Commercial Observer | By Brian Pascus and Mark Hallum

Micro- and macroeconomic trends collided at Commercial Observer’s annual Capital Markets and Opportunistic Strategies Forum on Nov. 28 at 22 Vanderbilt, a newly renovated mixed-use office property on the site of the old Biltmore Hotel next to Grand Central Terminal in Midtown Manhattan. 

After a few words from the building’s host, Damon Lopez-O’Dwyer from Milstein Properties (and there were also a few words from Adrienne Coyle of Starwood Solutions, one of the event’s sponsors), the morning opened with Ryan Severino, chief economist and head of research at investment firm BGO, holding court with Sam Chandan, founding director and professor at the C.H. Chen Institute for Global Real Estate Finance at the New York University Stern School of Business. 

Financial Advisor | By Christopher C. Williams

The companies driving the record surge in stocks might be peddling artificial intelligence products, but the impact they’re having on the market and investor sentiment is very real. The Standard & Poor’s 500 has soared past 5,000, and the supersonic performance of companies such as chipmaker Nvidia has financial advisors fielding calls from clients eager to jump on the next big tech thing.

“We really don’t get many calls from clients when the market’s plunging,” said Greg Halter, director of research at Carnegie Investment Counsel in Cleveland. “We get calls when the market is strong, and they’re like, ‘Why don’t you buy more of this stock?’ Nvidia. That kind of stuff.”

Halter’s advice to those pining for high-flying stocks: Curb your enthusiasm.

Fintech TV | By Jeremy Kasdin

Remy Blaire discusses the dynamics of the modern housing market with David Auerbach, Chief Investment Officer at Hoya Capital. As the price for purchasing a home or apartment increases, how is the market affected overall? 

MarketWatch | By Joy Wiltermuth

Top owners of high-quality office properties were among a batch of public real-estate investment trusts that raised nearly $2.5 billion in debt and equity in the past week.

BXP, Inc., formerly known as Boston Properties, borrowed $850 million in the corporate bond market, while Cousin Properties Inc. raised $500 million, according to BofA Global Data.

A total of $29 billion in fresh U.S. investment-grade corporate bonds were issued in the week through Thursday, per BofA Global, with trading levels narrowing about five basis points on average, indicating demand for the debt issuance.

Bloomberg | By Charlie Wells

What was supposed to be a year of clarity for the property market has instead given way to fresh uncertainty.

Stubbornly high mortgage rates are keeping buyers out of the house hunt. Potential sellers are staying put. Commercial property valuations, on the other hand, are still depressed amidst disagreements over the value of everything from office buildings to warehouse space.

Expectations were that September’s jumbo rate cut would shake the market loose, but no boom has emerged and mortgage rates have remained elevated. The election of Donald Trump brought mixed signals. Some in the real estate industry welcome his promises of deregulation and his real-estate background, while others fear the effects of an “America-first” policy on property — tariffs and an immigration crackdown — could lift costs for materials and labor. And all of that may feed through to rates.

MarketWatch | By Joy Wiltermuth

Top AAA-rated commercial property bonds have been tarnished by a defaulted office loan on a Blackstone Inc. building in New York City, which in May left investors with big losses.

While Blackstone ran into trouble on 1740 Broadway, a 26-story office building near Manhattan’s Columbus Circle, in the wake of the pandemic, it took several years to resolve its huge mortgage bill.

It wasn’t until recently that investors in the property deal received some of their money back after nearly a decade, albeit after taking a $190 million collective hit on their roughly $300 million investment, according to data from CrediQ.

Bloomberg | By Alix Steel and Paul Sweeney

Watch Alix and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Mandeep Singh, Bloomberg Intelligence Senior Tech Industry Analyst, discusses ASML lowering lowering guidance for 2025. Alison Williams, Bloomberg Intelligence Senior Analyst, Global Banks and Asset Managers, discusses U.S bank earnings. George Ferguson, Bloomberg Intelligence Senior Aerospace, Defense, & Airlines Analyst, talks about Boeing planning to raise as much as $25 billion to boost liquidity. Dan Pickering, Chief Investment Officer at Pickering Energy Partners, discusses the latest on the energy sector. David Auerbach, Chief Investment Officer at Hoya Capital, discusses the state of commercial real estate. Oliver Crook, Bloomberg Europe Correspondent, discusses the Bloomberg Big Take story: VW and Mercedes Are Getting Left in the Dust by China’s EVs Hosts: Paul Sweeney and Alix Steel

Bisnow | By Emily Wishingrad

Publicly traded property owners are suddenly back in favor after two years of Wall Street betting against the commercial real estate sector. 

Real estate stocks posted their best day of the year on Thursday and led all S&P 500 sectors in gains last week, with the overall real estate sector rising 4.41% and Nareit's index of REITs rising 4.62%. That momentum has continued this week, with the REIT index rising 1.1% on Tuesday. 

The Property Chronicle | By David Auerbach

Over 200 US REITs and homebuilders have reported first-quarter earnings results over the past four weeks, providing critical information on the state of the commercial and residential real estate industry. A microcosm of the past two years across REIT world, interest rate movements dictated the narrative and stock performance, overshadowing what was ultimately a relatively solid earnings season for the sector. Consistent with the “Rates Up, REITs Down” paradigm, REITs sold-off sharply in late April as the 10-year Yield jumped to six-month highs, but rebounded strongly in early May after the weak nonfarm payrolls report and subsequent dovish Fed commentary revived some hopes of multiple rate cuts later this year. Of the 99 REITs that provide guidance, 41 (41%) raised their full-year FFO outlook, 48 (48%) maintained, while 10 REITs (10%) lowered their guidance – a “raise rate” that is slightly above the historical first-quarter average of around 40%. Within this group, 80% of the guidance revisions were to the upside, while 20% were negative. By comparison, FactSet reports that, among the S&P 500 companies that updated their guidance, 52% raised their outlook, while 48% lowered their forecast.

Seeking Alpha | By Jonathan Block

Hoya Capital Chief Investment Officer David Auerbach admits that while REITs are a "boring" investment, investors new to them would be wise to put 5%-10% of their assets in them.

"REITs are the tortoise in the tortoise-and-hare race," he said, adding that because the investments tend to be less volatile and have higher dividend yields than other equity investments, they provide less risk. He noted that they can be used as a way to hedge the risk of investing in more volatile areas, such as cannabis stocks.

REITs provide a "safety net to build that income base 15 to 20 years down the road."

Commercial Observer | By Brian Pascus

At the start of Citizen Kane, Orson Welles’s 1941 cinematic masterpiece, the opening shot pans up through a mix of fog and shadow to highlight Xanadu, an immense private estate that we’re told during a newsreel voiceover “is the costliest monument a man has built to himself … since the pyramids.” 

Boasting “the loot of the world,” “the biggest private zoo since Noah,” and “a collection of everything so big it can never be cataloged or appraised,” Xanadu is undoubtedly a fictional creation. That is until you visit East Rutherford, N.J. 

REF Experience | By Evangelos Antzoulis

David Auerbach is a REIT Industry Expert, Chief Investment Officer of Hoya Capital & Hoya ETFs Educating Investors about the REIT Industry.

Nareit | By Sarah Borchersen-Keto

David Auerbach, REIT industry expert and the chief investment officer of Hoya Capital & Hoya ETFs, was a guest on the latest episode of Nareit’s REIT Report podcast.

Auerbach said fundamentals for REITs have remained “very strong,” despite the Federal Reserve’s tighter monetary policy. “If you look at the last quarter, public REITs reported same store property level income about 10% above where they were pre-pandemic. Many of these REITs have been preparing for winter for a long period of time, cleaning up their balance sheets, focusing less on variable rate debt.”

He added that investors want management teams to do four things—grow revenues, grow profits, grow guidance, and grow dividends. “Pretty much by and large, that's been what's happening across the spectrum in the REIT industry.”

This Week in Coworking | By Hector Kolonas and Mike LaRosa

In this episode of ‘This Week in Coworking,’ hosts Hector Kolonas and Mike LaRosa are joined by REIT expert David Auerbach from Hoya Capital & The Daily REITBeat Newsletter.

They discuss the fundamentals of Real Estate Investment Trusts (REITs), including their structure, benefits, and impact on coworking spaces.

David explains how various types of REITs function and provides insights into the current real estate market trends.

The conversation also touches on the conversion of office spaces to multifaceted properties post-COVID and strategies for coworking operators and landlords to form successful partnerships.This Week in Coworking | By Hector Kolonas and Mike LaRosa

In this episode of ‘This Week in Coworking,’ hosts Hector Kolonas and Mike LaRosa are joined by REIT expert David Auerbach from Hoya Capital & The Daily REITBeat Newsletter.

They discuss the fundamentals of Real Estate Investment Trusts (REITs), including their structure, benefits, and impact on coworking spaces.

David explains how various types of REITs function and provides insights into the current real estate market trends.

The conversation also touches on the conversion of office spaces to multifaceted properties post-COVID and strategies for coworking operators and landlords to form successful partnerships.

NYU Schack | By Scott Robinson

We are pleased to present a new distinguished speaker webinar series exploring the REIT Investment management ecosystem. This series will explore investment styles, structures, and strategies with (3) distinct REIT investment management platforms. We also discuss broader market cyclical and secular trends facing the REIT sector and how these could impact fund manager strategies.

In this episode, we speak with David Auerbach, Chief Investment Officer at Hoya Capital.

The ETF Store | By Nate Geraci

Hoya Capital’s David Auerbach delves into the recent performance drivers of REIT ETFs and outlines key considerations for investing in the sector.  VettaFi’s Zeno Mercer highlights Tesla’s recent “We, Robot” event and offers perspective on the price of bitcoin moving forward.

Trepp | By Lonnie Hendry and Hayley Keen

In this special guest episode of The TreppWire Podcast, we are joined by David Auerbach, Chief Investment Officer at Hoya Capital to discuss the current state and future of the Real Estate Investment Trust (REIT) sector. David shares his journey into the REIT industry, insights on market trends, and the importance of long-term investment strategies. He emphasizes the significance of dividend growth and the need for investors to understand the underlying dynamics of the REIT market. David also goes over the current state of the REIT market, focusing on the single-family rental sector, the evolution of retail, and the importance of healthcare REITs. We wrap up with a discussion on the need for diversification in REIT investments and the outlook for the sector leading into 2025.

Hoya Capital

David Auerbach, Chief Investment Officer of Hoya Capital, joins Bloomberg TV to discuss the state of the U.S. REIT industry and the broader outlook for commercial real estate.

Gregory FCA | By Heather Crowell and Britni Ackrivo

How can understanding REITs transform your investment strategy? David Auerbach, Chief Investment Officer at Hoya Capital, joins Heather and Britni to discuss the essential role that education plays in successful REIT investing. With a deep commitment to demystifying the REIT market, David shares his insights on why understanding the fundamentals is crucial, especially in a landscape often dominated by misleading headlines. He discusses the importance of helping investors make informed decisions, navigating market volatility, and recognizing the true, long-term value of REITs. Tune in to hear how David’s passion for educating the market shapes his work and why he believes that well-informed investors are the cornerstone of the future for REITs.

Seeking Alpha | By Dainel Snyder

Alex Pettee, Brad Thomas and David Auerbach provide their outlook on what's to come for the REITs sector and share some stocks that they find favorable for the environment ahead.