The Daily REITBeat | Tuesday, September 23rd, 2025

"Striking Gold?"

Author

David Auerbach
September 23, 2025

Today’s Newsletter (September 23rd, 2025)

Futures mixed at the time of this writing as talking heads focus on movements in commodities along with today’s economic calendar as several Fed speakers are on the slate highlighting last week’s interest rate cut and future outlook.

From Bloomberg

  • "Gold’s unprecedented rally pushed higher on efforts by China to bolster its role in global bullion markets. Stocks paused an advance that lifted the S&P 500 to yet another record.

  • Bullion powered beyond $3,780 an ounce, putting the metal on track for its best month since 2020. The rally gained fresh momentum on Tuesday after Bloomberg reported that the People’s Bank of China is looking to be a custodian of sovereign reserves, courting friendly countries to buy bullion and store it within its borders.

  • US stock futures traded indecisively early on, repeating a pattern of the past two sessions that gave way to extended rallies. Nvidia Corp. slipped 0.7% premarket after Monday’s jump. 

  • Europe’s Stoxx 600 rose 0.2% after data showed the euro area’s private sector expanded at the fastest pace in 16 months. US Treasuries climbed across the curve, with the 10-year yield slipping one basis point to 4.13%. The dollar steadied.

  • Investors are rushing to gold as the prospect of rapid US interest rate cuts enhances the appeal of non-interest-bearing assets. The metal is also drawing haven demand amid geopolitical upheaval and pressure on the Federal Reserve from the Trump administration to lower rates, stocking fears about inflation."

In REIT News

  • BMO initiates ARE with an Outperform rating ($100 price target)

  • Wells Fargo initiates SILA with an Equalweight rating ($27 price target)

  • JPM downgrades COLD to Underweight from Neutral (lower price target by $2 to $15)

  • NHI priced $350 million of 5.35% senior notes due 2033 and intends to use the net proceeds to reduce borrowings outstanding under its Revolving Credit Facility, with any remaining amounts being used for working capital and for general corporate purposes, including, but not limited to, the funding of acquisitions of additional properties or businesses, investments in mortgages and the repayment of short-term and long-term debt

  • LAMR priced $400 million of 5.375% senior notes due 2033 in a private placement offering on behalf of its operating partnership and intends to use the net proceeds to repay indebtedness outstanding under the revolving portion of its senior credit facility and Accounts Receivable Securitization Program

  • VRE released its 2024 Sustainability Report which demonstrates how strategic sustainability investments continue to generate measurable returns while strengthening the Company's competitive position in the multifamily market

  • Yesterday morning, VNO announced that Five Iron Golf opened its newest home at 1290 Avenue of the Americas in Midtown Manhattan as the 20K sf space focuses on wellness, performance, and social play

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Welcome your comments and feedback.

Have a great day!

David Auerbach