Inflation Cools β’ Fed Ahead β’ China Rate Cut CPI-ex-Shelter Index - arguably the most relevant inflation metric given the distortion from the lagged recognition of soaring rent growth in 2022 - showed an eleventh straight month of cooling in the year-over-year rate to justβ¦
June 13, 2023, 9:11 p.m.
June 13, 2023, 4:39 p.m.
CPI Ahead β’ Blackstone Buys Billboards β’ REIT Dividend Hike Billboard REITs were in focus today after asset manager Blackstone (BX) announced that itsΒ Tactical Opportunities fundΒ acquired a majority stake in a relatively small billboard owner, New Tradition Media, at aβ¦
June 12, 2023, 9:24 p.m.
June 12, 2023, 3:51 p.m.
June 12, 2023, 1:38 p.m.
The critical BLS nonfarm payrolls report showed that the U.S. economy added 339k jobs in May - well above expectations of 180k - marking the 29th straight month of positive job growth. Average hourly earnings, a key inflation indicator, increased less than expected while theβ¦
June 4, 2023, 2:53 p.m.
Softish Landing β’ Amazon Cellular β’ REITs Lead Rally The trio of cell tower REITs all advanced about 2% today on reports that e-commerce giant Amazon (AMZN) has been in talks with wireless carriers about offering low-cost or free nationwide mobile phone service to its Primeβ¦
June 2, 2023, 9:30 p.m.
Jobs Day Ahead β’ Data Center M&A β’ Blackstone Redemptions Asset manager Blackstone (BX)Β disclosed that it again had to limit withdrawals from its non-traded real estate platform in May - the seventh straight month that the firm's flagship fund limited redemptions. Investorsβ¦
June 1, 2023, 9:26 p.m.
Nareit reported earlier this year that nearly 50% of private real estate debt is priced based on variable rates compared to under 15% for public REITs. With the scars of the Great Financial Crisis still visible enough to be reminders of more dismal times, most public REITs haveβ¦
June 1, 2023, 2 p.m.
Property-level fundamentals are strong - office an exception - but some balance sheets are not. Many real estate portfolios - particularly private equity funds and non-traded REITs - were not prepared for anything besides a near-zero-rate environment. The tide is just beginningβ¦
June 1, 2023, 1:57 p.m.
Done Deal? β’ REIT M&A β’ Special REIT Dividend Arlington Asset (AAIC) rallied more than 45% today after fellow mREIT Ellington Financial (EFC) announced that it will acquire the small-cap REIT in a stock and cash deal at an implied price of $4.77 per share - a 73% premium toβ¦
May 30, 2023, 9:04 p.m.
Debt Deadline β’ Data Center Boom? β’ REIT Dividend Hike Both data center REITs - Digital Realty (DLR) and Equinix (EQIX) - rallied more than 5% today after chip maker Nvidia (NVDA) reported blowout first-quarter results driven by strength in its data center business. Americanβ¦
May 25, 2023, 8:42 p.m.
Hotel REITs: Pandemic Is Over - Now What? Despite lingering recession concerns, Hotel REITs are pacing for a second-straight year of outperformance after punishing early-pandemic declines, buoyed by steady post-pandemic operating improvement and the long-awaited return ofβ¦
May 24, 2023, 3:10 p.m.
Debt Impasse β’ NYC Office Lease β’ Hotel Updates Empire State Realty $ESRT gained more than 10% today after it announced that Flagstar Bank will assume the entire 313k square foot lease at 1400 Broadway, which was formerly leased to Signature Bank before its closure by federalβ¦
May 23, 2023, 9:07 p.m.
May 23, 2023, 12:22 a.m.
