The Daily REITBeat | Wednesday, February 26th, 2025

"The Main Event!"

Author

David Auerbach
February 26, 2025

Good Morning!

Futures in the green at the time of this writing as talking heads set the stage for Nvidia’s earnings report after the close of trading and the magnitude of the impact across Wall Street/AI/Data Centers and other sectors from its results.

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From Bloomberg

  • "US stock futures pointed to a strong open on Wall Street ahead of key earnings from Nvidia Corp. that could help reignite the artificial intelligence-driven rally.

  • Shares in Nvidia, the top provider of chips used in new AI computers, rose as much as 3% in US premarket trading. Contracts on the Nasdaq 100 rose about 0.7% while those on the S&P 500 gained 0.5%.  

  • The Nvidia report, due after the US market close, could fuel market moves of 8.5% in either direction, options data imply. It will come after a period of underperformance for the shares, following two years of blistering gains, as recent months showed AI computing adoption won’t be a straight path. 

  • The concerns have rippled across the US technology sector, pushing the Magnificent Seven group of bellwether tech megacaps into correction territory on Tuesday. The stocks ticked higher in Wednesday’s premarket.

  • “The reality is, we need a good set of numbers from Nvidia to keep this bull track in place in the US,” said Guy Miller, chief market strategist at Zurich Insurance Co. “It will be important that the numbers are good and the outlook is good. If it’s a really disappointing reading the market will be vulnerable to a further setback.”"

In REIT News

  • Evercore ISI downgrades VRE to Inline from Outperform (lower price target by $2 to $18)

  • AHT, CLDT, DHC, EXR, LINE, NHI, OUT, RLJ, SILA announced quarterly earnings

  • BHR, EPR, HHH, INVH, NSA, PEB, PLYM, PSTL, SUI, SVC, UMH announce earnings after the close of trading while MAC, MPW, SITC announce tomorrow morning before the open

  • GNL entered into a binding agreement to sell its multi-tenant portfolio of 100 non-core properties to a subsidiary of RCG Ventures Holdings, LLC for approximately $1.8 billion at an 8.4% cash cap rate plus on February 20, 2025, the Board of Directors authorized a share repurchase program for up to an aggregate amount of $300 million of the Company's outstanding shares of common stock

  • In an NT 10-K filing, CCI announced that it will be late on its Annual Report on Form 10-K for the year ended December 31st, 2024 due to significant demands related to its strategic review and notes that it “expects to record an impairment charge of approximately $5.0 billion related to the goodwill associated with its Fiber segment, which represents a reporting unit for purposes of evaluating goodwill, which would result in no goodwill remaining for the Fiber reporting unit.”

  • INVH announced the promotion of Timothy J. Lobner to Executive Vice President and Chief Operating Officer effective March 2nd and noted that Charles D. Young will continue in the role of President

  • FRT announced the acquisition of Del Monte Shopping Center, a premier 674,000 sf, 47-acre, grocery-anchored lifestyle center in Monterey, CA from AAT for approximately $123.5 million

  • AHT extended its mortgage loan secured by the 141-room Hotel Indigo Atlanta Midtown in Atlanta, GA as the loan extension provides for an initial maturity in February of 2026 and a one-year extension option, subject to the satisfaction of certain conditions, with a final maturity date in February 2027 and the loan has a current balance of $12.3 million

  • S&P raised REG’s ratings, including the issuer credit rating, to “A-“ from “BBB+”, with a stable outlook

  • Yesterday morning, SPG announced a revolutionary collaboration with Shopify, the world's leading commerce platform, and Leap, the leading platform for physical retail as the three industry leaders will offer comprehensive solutions for e-commerce brands to expedite their go-to-market strategy and seamlessly open brick-and-mortar locations across the Simon portfolio

  • Yesterday morning, CBL announced several promotions including one promotion to Senior Vice President and five new Vice Presidents

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Welcome your comments and feedback.

Have a great day!

David Auerbach