The Daily REITBeat | Wednesday, April 16th, 2025

"Ups and Downs"

Author

David Auerbach
April 16, 2025

Good Morning!

Futures in the red at the time of this writing as talking heads focus on tech stocks and the impact on Nvidia’s restrictions on chip exports put in place by the Trump administration along with Chairman Powell speaking later this morning.

From Bloomberg

  • "Tech stocks led a slump in global equities after the Trump administration imposed new restrictions on Nvidia Corp.’s chip exports to China amid deepening trade tensions.

  • Nasdaq 100 futures fell 1.5%. Nvidia shares lost about 6% in premarket trading. ASML Holding NV sank more than 7% on lower-than-expected orders, citing weakness in the chip sector. In Europe, the Stoxx 600 Index lost 0.8%. The dollar weakened. Gold set a record high and the Swiss franc rallied.

  • Federal Reserve Chair Jerome Powell is expected to give a speech later in the day, and investors will be watching March retail sales data for a reading of consumer sentiment before the tariff turmoil.

  • Stocks pared some of the losses in the morning session on signs China may be open to negotiations with the US, sparking some optimism over the possibility of easing trade tensions."

In REIT News

  • PLD announced 1Q Core FFO of $1.42/share and affirms 2025 FFO guidance of $5.65-$5.81/share where CEO Hamid Moghadam commented “In the near term, policy uncertainty is making customers more cautious. But over the long term, limited new supply and high construction costs support continued rent growth. We're confident in the strength and resilience of our business."

  • STAG entered into a note purchase agreement to issue $550 million of fixed rate senior unsecured notes in a private placement offering with a weighted average fixed interest rate of 5.65% and a weighted average tenor of 6.5 years noting that the transaction consists of $350 million of 5.50% notes with a five-year term maturing on June 25, 2030; $100 million of 5.82% notes with an eight-year term maturing on June 25, 2033; and $100 million of 5.99% notes with a ten-year term maturing on June 25, 2035

  • SMA announced the acquisition of its 40th Canadian location with a state-of-the-art facility in Kelowna, British Columbia noting that the facility is a five-story Class A modern development featuring approximately 74,000 net rentable sf and approximately 800 climate-controlled units

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Have a great day!

David Auerbach