The Daily REITBeat | Tuesday, May 27th, 2025

The Daily REITBeat is going on a break for a couple of weeks due to conferences and trips. Next daily publication will be Friday, June 6th

David Auerbach
May 27, 2025

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Futures at the time of this writing as talking heads

"Treasuries and the dollar advanced after Japan signaled changes to its debt sale plans, fueling speculation that demand for US bonds could rise. Stock futures gained.
The yield on 30-Treasuries fell six basis points to move below 5%. The dollar rose 0.3%, setting the currency on track for its biggest gain in more than two weeks. S&P 500 contracts strengthened 1.6%.
Bloomberg News reported Tuesday that Japan’s finance ministry asked market participants for their views on the appropriate amount of debt issuance. The move suggested it is looking to bring calm to a market where relentless selling had pushed yields to record highs and left demand for fresh supply floundering.
“That potential lower issuance is giving Treasuries a nice helping hand,” said Michael Brown, strategist at Pepperstone Group in London. “For those seeking to buy long-term debt, lower Japanese government-bond supply could force them into the Treasury complex.”"

Morgan Stanley downgrades NSA to Underweight from Equalweight (lower price target by $9 to $30)
On Friday, Morningstar upgraded VNO to Hold from Sell (maintain $31 price target)
On Friday, FCPT announced the acquisition via sale-leaseback of four Christian Brothers Automotive properties located across Ohio (2), Florida (1), and Nebraska (1)for $16.9 million noting that the sites are in strong retail corridors with high traffic and attractive demographics as the properties are each under a long-term lease guaranteed by the corporate entity and priced at a cap rate in range with previous FCPT transactions plus announced the acquisition of a Caliber Collision property located in a strong retail corridor in Wisconsin for $4.2 million noting that the property is corporate-operated under a long term, triple net lease with approximately 14 years of term remaining and priced at a 6.9% cap rate on rent as of the closing date and exclusive of transaction costs
On Friday, TRNO announced that it sold an industrial property located in Bellevue, WA for a sale price of approximately $17.5 million noting that the property consists of one industrial flex building containing approximately 39,000 square feet on 2.1 acres which is vacant and the unleveraged internal rate of return generated by the investment was 11.1%

	The Daily REITBeat 5-27-25.pdf652.81 KB • PDF File

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David Auerbach