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David Auerbach — research hub

David Auerbach · Hoya Capital Real Estate (REIT research, RIET / HOMZ ETFs); REIT sector specialist.
Sections: stock index · overall thesis · the product · transcripts. Last updated 2026-SEP-16.

Stock & name index

▲ Positive

TickerNameCurrent thesisResearchSeen inTotal $k
ADCAgree RealtyOne of the stronger net-lease platforms: high-quality retail tenants, disciplined underwriting, monthly dividend, earnings +7% and raised investment guidance; watch cost of capital and overpaying for growth.QT · SA · STK · FA2026-SEP-16
AMTAmerican TowerThe contrarian bucket: the 800-lb gorilla tower franchise in an out-of-favor sector — a good holding to own while nobody wants it; watch FX, carrier consolidation, leverage.QT · SA · STK · FA2026-SEP-16
APLEApple Hospitality REITA Hoya pick: select-service hotels with very low leverage for lodging; every hotel REIT raised guidance after Q2, so lodging moves into position for 2027.QT · SA · STK · FA2026-SEP-16
EGPEastGroup PropertiesCore holding: infill shallow-bay industrial in high-growth markets, ~13% dividend hike — but rich, and the Sun Belt concentration is the real risk.QT · SA · STK · FA2026-SEP-16
EQIXEquinixMission-critical interconnection/data-center platform with an Nvidia tie-in — great business, but valuation after a big run is the biggest drawback.QT · SA · STK · FA2026-SEP-16
EXRExtra Space StorageSuggested add: self-storage as a complement to residential REIT holdings.QT · SA · STK · FA2026-SEP-16
HOMZHoya Capital Housing ETFHoya's housing ETF — the housing-scarcity / elevated-mortgage-rate thesis (owns Invitation Homes).QT · SA · STK2026-SEP-16
INVHInvitation HomesLeading single-family-rental platform as a housing-scarcity solution; ~97% occupied, regulatory scrutiny behind it; owned in Hoya's HOMZ.QT · SA · STK · FA2026-SEP-16
LAMRLamar AdvertisingDuopoly billboard franchise — unbuildable assets, digital conversion in its favor; an income play with recession and leverage risk.QT · SA · STK · FA2026-SEP-16
MAAMid-America Apartment CommunitiesTop-quality Sun Belt apartments working through the supply glut — “the worst is behind us”; Hoya holds it for 2027 tailwinds.QT · SA · STK · FA2026-SEP-16
PLDPrologisThe benchmark industrial REIT — A-rated balance sheet, embedded rent growth, growing data-center platform; “absolutely a core holding” despite a premium.QT · SA · STK · FA2026-SEP-16
PSAPublic StorageSuggested add alongside Extra Space for self-storage exposure.QT · SA · STK · FA2026-SEP-16
REGRegency CentersThe premier grocery-anchored shopping-center REIT (occupancy ~97%, cash spreads +10%) — core holding, but at a premium, so a watch-list add.QT · SA · STK · FA2026-SEP-16
RIETHoya Capital High Dividend Yield ETFHis own ~100-name REIT ETF — the diversified alternative to anchoring on a single REIT, catching each subsector's place in the cycle.QT · SA · STK2026-SEP-16
SUISun CommunitiesOne to watch: simplifying into a US manufactured-housing story after exiting the UK; RV cyclicality and new-management credibility to prove.QT · SA · STK · FA2026-SEP-16
VTRVentasSuggested add: senior-housing/healthcare exposure to diversify a REIT book overweight residential and industrial.QT · SA · STK · FA2026-SEP-16
WELLWelltowerSuggested add alongside Ventas for senior-housing/healthcare exposure.QT · SA · STK · FA2026-SEP-16

► Neutral / referenced

TickerNameCurrent thesisResearchSeen inTotal $k
AVBAvalonBay CommunitiesContext: the Equity Residential–AvalonBay deal behind Sun Communities' CFO hire.QT · SA · STK · FA2026-SEP-16
BRK.BBerkshire HathawayContext: a former Lamar holder — “boring is good.”QT · SA · STK · FA2026-SEP-16
BRXBrixmor Property GroupShopping-center peer in the anchor-backfill discussion; no current warning signs.QT · SA · STK · FA2026-SEP-16
EQREquity ResidentialContext: its former CFO joined Sun Communities after the AvalonBay deal closed.QT · SA · STK · FA2026-SEP-16
KIMKimco RealtyGrocery-anchored peer; anchor-backfill risk is perennial but not showing up now.QT · SA · STK · FA2026-SEP-16
MARMarriott InternationalContext: the flag on APLE's hotels — brand capital requirements can lean on the REIT's margins.QT · SA · STK · FA2026-SEP-16
NVDANvidiaContext: Jensen Huang keynoted Equinix's investor day — the Nvidia relationship behind the data-center story.QT · SA · STK · FA2026-SEP-16
ORealty IncomeThe concentration cautionary tale: the advisor's default REIT — relying on one name leaves sector and geographic exposure on the table.QT · SA · STK · FA2026-SEP-16
PECOPhillips Edison & Co.Grocery-anchored peer (Phillips Edison) in the anchor-backfill discussion; no current warning signs.QT · SA · STK · FA2026-SEP-16

▼ Negative

TickerNameCurrent thesisResearchSeen inTotal $k

Overall thesis

In one line: REITs have stopped trading as bond proxies — they held up in a rising-10-year year with 18 of 20+ subsectors green, healthy dividend coverage and a construction slowdown improving future supply — so own a diversified, quality-first REIT book built in three buckets and capped by property type.

The product — Hoya Capital

What it is: Hoya Capital Real Estate — a REIT research platform that "covers the entire universe" (property fundamentals, dividends, leverage, valuation, capital markets, supply/demand, management, macro) to form sector views and short-list balanced portfolios, plus two ETFs (RIET, ~100 REITs across subsectors, and the housing ETF HOMZ), Auerbach's daily REIT-headlines newsletter The REIT Beat and the REIT TV channel, with a presence across social media. His own framing: "Our job is to educate … I don't care if people buy our ETFs or not" — and he'll point investors to other REIT ETF issuers if Hoya's isn't the fit.

Grounded in his own description on 2026-SEP-16.

OfferingWhat it isHow he runs itSeen in the index
Research platformREIT coverage across all 20+ subsectors.Top-down/bottom-up, macro and micro; three-bucket portfolio construction with sector (20–25%) and position (8–12%) caps; Hoya "picks" (e.g. APLE).APLE, MAA, PLD, REG, EGP
REIT ETF (RIET)~100 REITs, diversified coast to coast across subsectors.The diversified alternative to a single-REIT anchor, catching each subsector's place in the cycle.RIET
Housing ETF (HOMZ)Housing-sector ETF.Built around the housing-scarcity thesis; owns single-family-rental names.HOMZ, INVH
The REIT Beat / REIT TVDaily REIT-headlines newsletter and video channel.Free education and daily news flow on the REIT industry.

How it serves retail investors:

Transcripts

One dated page per appearance — each has its stock table (when securities are named), talking points, and the saved transcript. Newest first.

DateTitle / analysis pageShowLinkTranscriptActionable insights
2026-SEP-16 I Exposed My Entire REIT Portfolio… Then Asked an Expert to Roast It Dividend Stockpile ▶ YouTube transcript insights

To process — backlog

Appearances not yet processed — newest first. None queued yet.


For personal study — not investment advice. Source material © Dividend Stockpile / Hoya Capital.