The Daily REIT Beat Newsletter’s Post

📉 #REIT Headlines - August 5, 2024 📈 🔻 BofA Downgrades Public Storage to Neutral from Buy (price target maintained at $318) 🔻 BofA Downgrades Extra Space Storage to Underperform from Neutral (price target lowered by $17 to $155) 📈 RBC Upgrades EPR Properties to Outperform from Sector Perform (price target raised by $2 to $50) 🔻 RBC Downgrades Prologis to Sector Perform from Outperform (price target raised by $3 to $127) 📈 Compass Point Upgrades DiamondRock Hospitality to Buy from Neutral (price target maintained at $10) 🔻 Compass Point Downgrades RLJ Lodging Trust to Neutral from Buy (price target lowered by $8 to $10) 📊 Earnings Announcements: American Healthcare REIT, Apple Hospitality REIT, Inc., Innovative Industrial Properties, NSA Storage, Realty Income Corporation, Simon Property Group, Vornado Realty Trust to report after trading close 🏦 Broadstone Net Lease, Inc. Moody’s Update: BNL’s backed senior unsecured notes and issuer rating affirmed at “Baa2” with a stable outlook

🌟 In 2023, JWB achieved a remarkable milestone by signing over 1,400 new leases—a new company record! This achievement underscores our commitment to serving investors like you by minimizing maintenance and vacancy costs through tenant retention and relationship-building. 💼 Reflecting on just a few years ago, in 2019, we celebrated signing under a thousand new leases—a significant accomplishment at the time. But fast forward to 2023, and we've shattered our previous records, demonstrating our dedication to continuous improvement and excellence. 🏡 Our focus on treating residents like gold and nurturing strong relationships pays dividends when it comes time for lease renewals. By fostering loyalty and trust, we ensure that residents choose to stay with us, thereby maximizing returns on investment for our investors. 💡 These achievements are a testament to the daily, monthly, and annual efforts of the entire JWB team. Our relentless pursuit of excellence serves one purpose: to serve you better and to deliver exceptional results for your investment portfolio. Join us as we continue to set new standards of success in real estate investing! #JWBRealEstate #LeasingOperations #InvestmentSuccess #TenantRetention #RealEstateInvesting #JacksonvilleFL

📅 #REIT Headlines 6-24-2024 🏢 🏊 Pebblebrook Hotel Trust (NYSE: PEB) announced operating update saying May results were inline with expectations 📉 On Friday, Morningstar downgraded Public Storage to Hold from Buy and maintaining its $310 price target. 📜 On Friday, Safehold Inc. established a $750M unsecured commercial paper note program in the U.S. 🏢 On Friday, Alpine Income Property Trust's announced YTD 2024 activities: Acquired 101K sf retail property leased to Best Buy & Golf Galaxy and sold properties generating $6.6M. 📈 On Friday, Moody’s affirmed STAG Industrial, Inc.'s senior unsecured bank credit facility at “Baa3” and outlook revised to positive. 📉 On Friday, S&P downgraded Office Properties Income Trust's issuer credit rating to “SD”, Moody’s downgrades ratings while affirming others. 🏨 On Friday, Apple Hospitality REIT, Inc. acquired Embassy Suites by Hilton Madison Downtown for $79.5M plus sold SpringHill Suites in Greensboro for $7.1M.

📅 #REIT Headlines 6-24-2024 🏢 🏊 Pebblebrook Hotel Trust (NYSE: PEB) announced operating update saying May results were inline with expectations 📉 On Friday, Morningstar downgraded Public Storage to Hold from Buy and maintaining its $310 price target. 📜 On Friday, Safehold Inc. established a $750M unsecured commercial paper note program in the U.S. 🏢 On Friday, Alpine Income Property Trust's announced YTD 2024 activities: Acquired 101K sf retail property leased to Best Buy & Golf Galaxy and sold properties generating $6.6M. 📈 On Friday, Moody’s affirmed STAG Industrial, Inc.'s senior unsecured bank credit facility at “Baa3” and outlook revised to positive. 📉 On Friday, S&P downgraded Office Properties Income Trust's issuer credit rating to “SD”, Moody’s downgrades ratings while affirming others. 🏨 On Friday, Apple Hospitality REIT, Inc. acquired Embassy Suites by Hilton Madison Downtown for $79.5M plus sold SpringHill Suites in Greensboro for $7.1M.

🌟 In 2023, JWB achieved a remarkable milestone by signing over 1,400 new leases—a new company record! This achievement underscores our commitment to serving investors like you by minimizing maintenance and vacancy costs through tenant retention and relationship-building. 💼 Reflecting on just a few years ago, in 2019, we celebrated signing under a thousand new leases—a significant accomplishment at the time. But fast forward to 2023, and we've shattered our previous records, demonstrating our dedication to continuous improvement and excellence. 🏡 Our focus on treating residents like gold and nurturing strong relationships pays dividends when it comes time for lease renewals. By fostering loyalty and trust, we ensure that residents choose to stay with us, thereby maximizing returns on investment for our investors. 💡 These achievements are a testament to the daily, monthly, and annual efforts of the entire JWB team. Our relentless pursuit of excellence serves one purpose: to serve you better and to deliver exceptional results for your investment portfolio. Join us as we continue to set new standards of success in real estate investing! #JWBRealEstate #LeasingOperations #InvestmentSuccess #TenantRetention #RealEstateInvesting #JacksonvilleFL

Watch our 2023 Earnings Call and review the Kingston Properties Teams' performance in 2023 https://lnkd.in/gz4fjFs4

📅 #REIT Headlines -- October 16, 2024 🌟 📈 Lucid Capital Markets Initiates Buy Ratings * City Office REIT (NYSE: CIO): $9 price target * CTO Realty Growth, Inc.: $23 price target * Farmland Partners Inc.: $12.50 price target * Alpine Income Property Trust: $22 price target * UMH Properties, Inc.: $22 price target * Whitestone REIT: $17 price target ⚖️ Lucid Capital Markets Neutral Ratings Initiated * Gladstone Commercial Corporation: $17 price target * Gladstone Land Corporation: $15 price target 📊 Earnings Announcements * Prologis: 3Q earnings released * Crown Castle, First Industrial Realty Trust, Rexford Industrial, SL Green Realty Corp. announce earnings after market close 🏨 Service Properties Trust Leverage Reduction Initiatives * Reduced the regular quarterly cash distribution on its common shares from $0.20 per common share ($0.80 per share per year) to $0.01 per common share ($0.04 per share per year) * Plans to sell 114 focused service hotels in 2025 managed by Sonesta International Hotels Corporation with an aggregate of 14,925 keys and an aggregate net carrying value of $850.0 million and use the net sales proceeds to repay debt 🔄 Ashford Hospitality Trust Reverse Stock Split Approved * Unanimous Board approval for a 1-for-10 reverse split * Effective: October 25, 2024 * Trading on NYSE to commence on a split-adjusted basis: October 28, 2024 🌪️ NexPoint Residential Trust Inc Hurricane Milton Update * No material damage reported to properties

📅 #REIT Headlines -- October 16, 2024 🌟 📈 Lucid Capital Markets Initiates Buy Ratings * City Office REIT (NYSE: CIO): $9 price target * CTO Realty Growth, Inc.: $23 price target * Farmland Partners Inc.: $12.50 price target * Alpine Income Property Trust: $22 price target * UMH Properties, Inc.: $22 price target * Whitestone REIT: $17 price target ⚖️ Lucid Capital Markets Neutral Ratings Initiated * Gladstone Commercial Corporation: $17 price target * Gladstone Land Corporation: $15 price target 📊 Earnings Announcements * Prologis: 3Q earnings released * Crown Castle, First Industrial Realty Trust, Rexford Industrial, SL Green Realty Corp. announce earnings after market close 🏨 Service Properties Trust Leverage Reduction Initiatives * Reduced the regular quarterly cash distribution on its common shares from $0.20 per common share ($0.80 per share per year) to $0.01 per common share ($0.04 per share per year) * Plans to sell 114 focused service hotels in 2025 managed by Sonesta International Hotels Corporation with an aggregate of 14,925 keys and an aggregate net carrying value of $850.0 million and use the net sales proceeds to repay debt 🔄 Ashford Hospitality Trust Reverse Stock Split Approved * Unanimous Board approval for a 1-for-10 reverse split * Effective: October 25, 2024 * Trading on NYSE to commence on a split-adjusted basis: October 28, 2024 🌪️ NexPoint Residential Trust Inc Hurricane Milton Update * No material damage reported to properties

#REIT Headlines | October 25, 2024 🌟 📈 KeyBanc initiates Regency Centers with an Overweight rating setting an $80 price target 🔽 RBC downgrades Alexandria Real Estate Equities, Inc. to Sector Perform from Outperform and lowers price target by $5 to $25 🔽 Scotiabank downgrades Rexford Industrial to Sector Perform from Sector Outperform and lowers price target bY $7 to $48 💼 Earnings Reports: Companies reporting include Alexander & Baldwin, CTO Realty Growth, Inc., Cousins Properties, Digital Realty, Healthpeak Properties, Inc., Gaming and Leisure Properties, Inc., Piedmont Office Realty Trust, Phillips Edison & Company, Weyerhaeuser 💰 Agree Realty Corporation prices an upsized public offering of 4,400,000 shares at $74/share raising gross proceeds of $325.6 million * Uses: Funding acquisitions, development, and debt repayment 🌱 Equity Residential publishes its 2024 Corporate Responsibility Report * Focus Areas: Sustainability, employee development, customer engagement, community service, and governance 📊 UDR - Opening Doors to your future releases its 6th Annual ESG Report which highlights achievements and progress towards enhanced ESG goals in 2023 🏢 Empire State Realty Trust New Lease Announcement: * ESRT welcomes Bloomsbury Publishing, Inc. with a new lease for 24,209 sf at 1359 Broadway

🏢 #REIT Headlines - July 24, 2024 📅 📈 Deutsche Bank upgrades Invitation Homes to Buy from Hold and raisse price target by $6 to $41 📉 Wedbush downgrades Alexandria Real Estate Equities, Inc. to Neutral from Outperform and lowers price target by $10 to $130 💼 Agree Realty Corporation, Brandywine Realty Trust, EastGroup Properties Inc, Highwoods Properties, Retail Opportunity Investments Corp. announced earnings 🕔 Essential Properties Realty Trust, Inc. (NYSE: EPRT), Empire State Realty Trust, Getty Realty Corp., Invitation Homes, Pebblebrook Hotel Trust (NYSE: PEB), Veris Residential announce earnings after the close of trading 💵 Sila Realty Trust, Inc. completes $50M Dutch Auction tender offer: * 4,670,381 shares tendered * 2,212,389 shares accepted at $22.60/share 🌟 Fitch Ratings affirms MAA: * Long-Term Issuer Default Rating: A- * Preferred stock: BBB * Stable outlook