The Daily REITBeat | Wednesday, July 2nd, 2025

"Turning Up the Heat"

Author

David Auerbach
July 02, 2025

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Today’s Newsletter (July 2nd, 2025)

Futures mixed at the time of this writing as talking heads focus on two topics: jobs and trade talks. We have ADP jobs report and June Nonfarm Payrolls report over the next 24+ hours and one week until the trade tariff deadline hits as negotiations continue.

From Bloomberg

  • "US equity futures held firm as traders await June’s payrolls report on Thursday and navigate how trade talks develop ahead of the Trump administration’s July 9 deadline.

  • Contracts for the S&P 500 ticked higher 0.1% after the US benchmark paused its record-breaking rally during the previous session. Futures for the small-cap Russell 2000 rose 0.9% to outperform as Tuesday’s rotation out of high-momentum stocks extended. European stocks advanced 0.4%.

  • As the US continues talks with key trading partners, Trump has turned up pressure on Japan and reaffirmed he won’t delay his tariff deadline, now just a week away. While markets swung wildly on trade headlines in April, equity indexes are now signaling diminished concern with stocks near record highs."

In REIT News

  • Barclays initiates FRT ($106) and KIM ($25) with Overweight ratings

  • Barclays initiates PECO ($37), REG ($77), SKT ($33) and SPG ($170) with Equalweight ratings

  • Truist Securities upgrades NHI to Buy from Hold (maintain $77 price target)

  • Truist Securities downgrades CUZ ($31) and HIW ($32) to Hold from Buy

  • Wolfe Research downgrades IIPR to Peer Perform from Outperform

  • UMH announced 2Q’25 operating update noting that it converted 188 new homes from inventory to revenue generating rental homes plus July 2025 rental and related charges are up approximately 9.2% year over year while they issued 1.8 million shares of common stock under its ATM program raising gross proceeds of $31 million

  • STRW announced that it completed the acquisition of nine skilled nursing facilities, comprised of 686 beds, located in Missouri for $59,000,000 using cash on hand and the issuance of approximately $2.0 million in OP Units of Strawberry Fields REIT LP to the Seller

  • Yesterday morning, TRNO announced that it acquired an industrial property located in Long Island City, Queens, NY on June 30, 2025 for a purchase price of approximately $31.1 million noting that the vacant property consists of one industrial distribution building containing approximately 48,000 sf on 2.2 acres as the company will substantially renovate the building including new truck loading configuration, new office, new warehouse and exterior lighting, slab repair and possibly a roof raise as the renovated property, expected to be completed in 2026, is expected to have a total investment of approximately $40.2 million and the estimated stabilized cap rate is 5.5%

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Welcome your comments and feedback.

Have a great day!

David Auerbach