Fresh 5/14: CCI/DISH PV, Industrial Rents/REXR, CUBE NYC Deck, HIW/JBGS Ests

研报英文原文证据摘录

Fresh 5/14: CCI/DISH PV, Industrial Rents/REXR, CUBE NYC Deck, HIW/JBGS Ests

REITs

Apartments - Market Weight

CRE Services - Market Weight

Net Lease - Market Weight

Retail - Market Weight

Technology - Market Underweight

Fresh 5/14: CCI/DISH PV, Industrial Rents/REXR, CUBE May 14, 2026

NYC Deck, HIW/JBGS Ests

The Wolfe Byte

The Wolfe Research daily or "Fresh" as we like to call it provides analysis on names in our sectors that we find

stock impacting, estimate updates, and earnings reports. We also include daily news on a real time basis that we

think moves stocks. Enjoy!

We highlight (1) Tenant news (2) PV of DISH termination fee for CCI (3) Industrial CoStar rents and vacancy (4) CRE

services deals (5) 1Q investment sales report (6) LinkedIn planning to lay off 5% of staff (7) Related moving forward on

a long-delayed office building (8) Supply in Northeast apartments (9) CUBE deck (10) BXDC IPO (11) SBAC setback

in take private negotiations (12) JBGS/HIW estimates

●Exhibit 1 outlines potential CCI recoveries from DISH termination fees across different discount rates on $3.5B

+ of estimated obligations. The SATS escrow account appears small relative to potential claims, and may imply

a more modest settlement for CCI.

●In Exhibits 2 and 3 below, we show the latest CoStar industrial daily rents and vacancy through 2QTD. There

are signs of optimism, as daily asking rents have been flat/rising for most names and vacancy has shown

improvements across the board from 1Q, with vacancy either slightly down or flat QTD. An exception to this trend

was REXR where rents continued to fall. Market level data available upon request.

●CUBE released a new NYC portfolio presentation, highlighting the long-term value they see for the company in the