Fresh 6/29: Vach Polls (AVB/EQR, PLD/SGRO, Towers), NMRK report on new rate regime

研报英文原文证据摘录

Fresh 6/29: Vach Polls (AVB/EQR, PLD/SGRO, Towers), NMRK report on new rate regime

REITs

Apartments - Market Weight

Industrial - Market Weight

Mortgage REIT - Market Weight

Net Lease - Market Weight

Office - Market Weight

Fresh 6/29: Vach Polls (AVB/EQR, PLD/SGRO, Towers), June 29, 2026

NMRK report on new rate regime

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) Vach Polls (2) CRE returns in new rate regime (3) O 8K (4) GNL update (5) SpaceX and Charter have

discussed a consumer mobile partnership

●In Exhibits 1-3, we highlight last week's webcast polls.

○Majority respondents would be disappointed if the AVB/EQR merger deal fees is above $700M which we

believe ia a potential outcome.

○Respondents were split on PLD's bid for SEGRO being a sign of less domestic opportunity, where we point

to our latest CoStar data as a snapshot of the current U.S. industrial environment.

○Most respondents don't see the tower underperformance as an attractive entry point.

●A NMRK report highlights the impact on different REIT subsector of slower demographic growth and productivity-

led GDP.

We will not be hosting our Vach-22 webcast this week because of the holiday, we will resume next week. Please click

here to register. PLEASE NOTE: NEW REGISTRATION IS REQUIRED.

We are hosting In Person REITs & CRE Services Lunch Discussion on Thursday, July 9th 12:00-1:30pm ET at our

office in New York City.

We are hosting a Virtual REITs & CRE Services Lunch Discussion on Friday, July 10th 12:00-1:30pm ET. Let us know