Guardian Pharmacy Services ( GRDN ) raised ~$186M by selling 6M Class A shares at $31 per share in an upsized public offering . Out of these 6M shares, ~4.98M will be sold by existing holders, while ~1.02M will be issued via a non-dilutive secondary-style offering. The underwriters have a 30-day option to buy up to 900K additional shares, as the offering is expected to close March 20, 2026. This o...
Guardian Pharmacy Services ( GRDN ) raised ~$186M by selling 6M Class A shares at $31 per share in an upsized public offering . Out of these 6M shares, ~4.98M will be sold by existing holders, while ~1.02M will be issued via a non-dilutive secondary-style offering. The underwriters have a 30-day option to buy up to 900K additional shares, as the offering is expected to close March 20, 2026. This offering is non-dilutive, as Guardian will use all net proceeds to repurchase 1.02M Class A shares at the public offering price (less discount), retain no proceeds, and keep outstanding shares unchanged. The repurchase closing is expected by March 24, 2026 (subject to the offering's closing). More on Guardian Pharmacy Services Guardian Pharmacy Services, Inc. (GRDN) Q4 2025 Earnings Call Transcript Guardian Pharmacy Services, Inc. (GRDN) Presents at 44th Annual J.P. Morgan Healthcare Conference - Slideshow Guardian Pharmacy Services, Inc. (GRDN) Presents at 44th Annual J.P. Morgan Healthcare Conference Transcript Guardian Pharmacy Services launches 5M share offering with non-dilutive structure Mid-Cap healthcare stocks ranked by quant ratings after earnings season
UK Chancellor of the Exchequer Rachel Reeves sits down with David Rubenstein for a wide-ranging conversation on the UK's economic outlook, including her efforts to repair public finances. She makes the case for Britain as a global hub for business and talent, highlighting plans to keep high-growth companies rooted in the UK and emphasizing the importance of central bank independence. This intervie...
UK Chancellor of the Exchequer Rachel Reeves sits down with David Rubenstein for a wide-ranging conversation on the UK's economic outlook, including her efforts to repair public finances. She makes the case for Britain as a global hub for business and talent, highlighting plans to keep high-growth companies rooted in the UK and emphasizing the importance of central bank independence. This interview was recorded January 21 at the World Economic Forum in Davos. (Source: Bloomberg)
Although the tech sector has led the stock market over the past decade or so, it's had a rough start this year. Through March 16, the S&P 500's tech sector is collectively down over 6%, and none of the "Magnificent Seven" stocks are up year to date. Regardless of the sluggish start, plenty of tech stocks are still great long-term investments. If you're looking to invest in tech stocks without taki...
Although the tech sector has led the stock market over the past decade or so, it's had a rough start this year. Through March 16, the S&P 500's tech sector is collectively down over 6%, and none of the "Magnificent Seven" stocks are up year to date. Regardless of the sluggish start, plenty of tech stocks are still great long-term investments. If you're looking to invest in tech stocks without taking on the risk that comes with individual stocks, a tech ETF is the way to go. There's no shortage of them, but a good go-to right now would be the Invesco Nasdaq 100 ETF (QQQM 1.41%). A $1,000 investment now could go a long way over time. Why investing in the Invesco Nasdaq 100 ETF is a smart move QQQM mirrors the Nasdaq-100, so it's not a pure-play tech ETF where every company is a tech company. However, tech stocks make up nearly 60% of the ETF, making it a good choice right now. You get exposure to many of the world's best tech companies while also owning stocks in other sectors to help hedge against any tech-specific rough patches (like we're going through now). Nine of QQQM's top 10 holdings are tech companies, with Walmart being the exception: Company Percentage of the ETF Nvidia 8.82% Apple 7.49% Microsoft 5.92% Amazon 4.44% Tesla 3.91% Meta Platforms 3.71% Alphabet (Class A) 3.50% Walmart 3.35% Alphabet (Class C) 3.25% Broadcom 3.14% A good example of why a hedge from other sectors could be beneficial is looking at returns so far this year. QQQM is still down year to date, but it's still outperforming the S&P 500's tech sector and pure-play tech ETFs like the Vanguard Information Technology ETF. A history of impressive returns QQQM has only been around since October 2020 (it's the newer -- and cheaper -- version of the more-popular Invesco QQQ ETF), but to see how lucrative the Nasdaq-100 has been, let's take a look at the past 30 years. In that span, the index has averaged 13% annual returns, slightly below the 13.8% QQQM has averaged since its inception. If it we...
It's mid-March, which means two things: Your basketball bracket is already busted, and you've got some time to think about your portfolio instead. In my view, it's high time to pick up some Netflix (NFLX +0.39%) and/or Amazon (AMZN 2.47%) stock. Amazon is investing so much cash in AI-focused data center construction that it's making many investors nervous. Netflix's stock bounced back when it lost...
It's mid-March, which means two things: Your basketball bracket is already busted, and you've got some time to think about your portfolio instead. In my view, it's high time to pick up some Netflix (NFLX +0.39%) and/or Amazon (AMZN 2.47%) stock. Amazon is investing so much cash in AI-focused data center construction that it's making many investors nervous. Netflix's stock bounced back when it lost a high-stakes buyout battle. So both stocks are down by double-digit percentages from recent highs, but you can't argue with their long-term results. Amazon shares have gained 670% over the last decade while Netflix investors pocketed a gain of 845%. Short-term volatility has created entry points for patient investors willing to look past the noise. Let's take a closer look at these proven winners, before the tasty discounts disappear. Why Netflix shareholders are happy about losing Netflix just lost an $111 billion bidding war, and the stock went up. Welcome to 2026. As it turns out, Netflix investors weren't thrilled about the prospect of absorbing Warner Bros. Discovery's (WBD 0.96%) debt load and cable-era baggage. When Paramount Skydance (PSKY 2.49%) (with an assist from Oracle billionaire Larry Ellison's bulging wallet) swooped in with a higher bid, Netflix shareholders breathed a collective sigh of relief. Honestly, Netflix is doing fine on its own. KPop Demon Hunters broke records with a sequel on the way. The company just bought Ben Affleck's AI startup to make movies faster and cheaper. It's experimenting with live sports, gaming, and physical venues. Expand NASDAQ : NFLX Netflix Today's Change ( 0.39 %) $ 0.37 Current Price $ 94.73 Key Data Points Market Cap $400B Day's Range $ 93.63 - $ 95.33 52wk Range $ 75.01 - $ 134.12 Volume 2.2K Avg Vol 48M Gross Margin 48.59 % Free cash flow hit $9 billion last year. Revenue's growing at 17%. Oh, and Paramount Skydance sent over a $2.8 billion check to soothe Netflix's wounds from the canceled Warner Bros. takeover attemp...
Key Points The Invesco Nasdaq 100 ETF isn't a pure-play tech ETF, but tech accounts for nearly 60% of the fund. Holding non-tech stocks helps hedge against tech-specific downturns the market may experience. The Nasdaq-100 has averaged around a 13% annualized return over the past 30 years. 10 stocks we like better than Invesco NASDAQ 100 ETF › Although the tech sector has led the stock market over ...
Key Points The Invesco Nasdaq 100 ETF isn't a pure-play tech ETF, but tech accounts for nearly 60% of the fund. Holding non-tech stocks helps hedge against tech-specific downturns the market may experience. The Nasdaq-100 has averaged around a 13% annualized return over the past 30 years. 10 stocks we like better than Invesco NASDAQ 100 ETF › Although the tech sector has led the stock market over the past decade or so, it's had a rough start this year. Through March 16, the S&P 500's tech sector is collectively down over 6%, and none of the "Magnificent Seven" stocks are up year to date. Regardless of the sluggish start, plenty of tech stocks are still great long-term investments. If you're looking to invest in tech stocks without taking on the risk that comes with individual stocks, a tech ETF is the way to go. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » There's no shortage of them, but a good go-to right now would be the Invesco Nasdaq 100 ETF (NASDAQ: QQQM). A $1,000 investment now could go a long way over time. Why investing in the Invesco Nasdaq 100 ETF is a smart move QQQM mirrors the Nasdaq-100, so it's not a pure-play tech ETF where every company is a tech company. However, tech stocks make up nearly 60% of the ETF, making it a good choice right now. You get exposure to many of the world's best tech companies while also owning stocks in other sectors to help hedge against any tech-specific rough patches (like we're going through now). Nine of QQQM's top 10 holdings are tech companies, with Walmart being the exception: Company Percentage of the ETF Nvidia 8.82% Apple 7.49% Microsoft 5.92% Amazon 4.44% Tesla 3.91% Meta Platforms 3.71% Alphabet (Class A) 3.50% Walmart 3.35% Alphabet (Class C) 3.25% Broadcom 3.14% A good example of why a hedge from other sectors could be beneficial is look...
Key Points Netflix lost the Warner Bros. Discovery bidding war and its stock went up. Amazon is spending $200 billion on AI infrastructure in 2026, and investors are nervous. Short-term volatility has created entry points for patient long-term investors. 10 stocks we like better than Netflix › It's mid-March, which means two things: Your basketball bracket is already busted, and you've got some ti...
Key Points Netflix lost the Warner Bros. Discovery bidding war and its stock went up. Amazon is spending $200 billion on AI infrastructure in 2026, and investors are nervous. Short-term volatility has created entry points for patient long-term investors. 10 stocks we like better than Netflix › It's mid-March, which means two things: Your basketball bracket is already busted, and you've got some time to think about your portfolio instead. In my view, it's high time to pick up some Netflix (NASDAQ: NFLX) and/or Amazon (NASDAQ: AMZN) stock. Amazon is investing so much cash in AI-focused data center construction that it's making many investors nervous. Netflix's stock bounced back when it lost a high-stakes buyout battle. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » So both stocks are down by double-digit percentages from recent highs, but you can't argue with their long-term results. Amazon shares have gained 670% over the last decade while Netflix investors pocketed a gain of 845%. Short-term volatility has created entry points for patient investors willing to look past the noise. Let's take a closer look at these proven winners, before the tasty discounts disappear. Why Netflix shareholders are happy about losing Netflix just lost an $111 billion bidding war, and the stock went up. Welcome to 2026. As it turns out, Netflix investors weren't thrilled about the prospect of absorbing Warner Bros. Discovery's (NASDAQ: WBD) debt load and cable-era baggage. When Paramount Skydance (NASDAQ: PSKY) (with an assist from Oracle billionaire Larry Ellison's bulging wallet) swooped in with a higher bid, Netflix shareholders breathed a collective sigh of relief. Honestly, Netflix is doing fine on its own. KPop Demon Hunters broke records with a sequel on the way. The company just bought Ben Affleck's AI startu...
(RTTNews) - TG Therapeutics, Inc. (TGTX), a commercial stage biopharmaceutical company, Thursday announced that it has obtained a new five-year, $750 million senior secured credit facility with funds managed by Blue Owl Capital. The company has to repay its outstanding $250 million senior secured credit facility, resulting in a net raise of $500 million in non-dilutive capital. The new facility al...
(RTTNews) - TG Therapeutics, Inc. (TGTX), a commercial stage biopharmaceutical company, Thursday announced that it has obtained a new five-year, $750 million senior secured credit facility with funds managed by Blue Owl Capital. The company has to repay its outstanding $250 million senior secured credit facility, resulting in a net raise of $500 million in non-dilutive capital. The new facility also provides for up to an additional $250 million of incremental capital, for a total facility size of up to $1 billion, available at the mutual discretion of TG and Blue Owl, the biopharma firm said in a statement. In relation with this new facility, the company has been authorized to increase its share repurchase program from $100 million to $300 million. As of March 18, the pharma firm has repurchased around $38 million of common stock under its existing buyback program at an average price of $28.98 per share. In pre-market activity, TGTX shares were trading at $30.55, up 1.70% on the Nasdaq. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
(RTTNews) - Energy prices are soaring across the globe, as the Middle East conflict is getting to a new turn with strikes on key energy facilities in Qatar as well as Iran. LNG and helium supply were disrupted after missile attack on Qatar's Ras Laffan hub. President Trump has warned Iran against continued attack on Qatar and said he was not aware of Israel's earlier attack on Iran's South Pars ga...
(RTTNews) - Energy prices are soaring across the globe, as the Middle East conflict is getting to a new turn with strikes on key energy facilities in Qatar as well as Iran. LNG and helium supply were disrupted after missile attack on Qatar's Ras Laffan hub. President Trump has warned Iran against continued attack on Qatar and said he was not aware of Israel's earlier attack on Iran's South Pars gas field. President said if Iran fails to comply, the U.S. would "massively blow up the entirety of the South Pars Gas Field" Brent crude price spiked more than 6 percent above $114 a barrel. The dollar strengthened against other major currencies. Gold extended losses and was down over 1 percent at $4,752 on ounce. Early trends from the U.S. Futures Index suggest that Wall Street might open lower. As of 7.35 am ET, the Dow futures were losing 170.00 points, the S&P 500 futures were down 25.00 points and the Nasdaq 100 futures were sliding 133.00 points. The U.S. major averages ended Wednesday lower. The Dow plunged 768.11 points or 1.6 percent to 46,225.15, the Nasdaq tumbled 327.11 points or 1.5 percent to 22,152.42 and the S&P 500 slumped 91.39 points or 1.4 percent to 6,624.70. On the economic front, the Labor Department's Jobless Claims for the week will be issued at 8.30 am ET. The consensus is 215K, while it was up 213K in the prior week. The Philadelphia Fed Manufacturing Index for March will be published at 8.30 am ET. The consensus is 5.5, while it was up 16.3 in the prior month. The New Home Sales for January is scheduled at 10.00 am ET. The consensus is 728K, while it was up 745K in the prior month. The Business Inventories for Janaury will be released at 10.00 am ET. In the prior month, the manufacturing Inventories were up 0.1 percent, while retail inventories were up 0.1 percent. Wholesale inventories were up 0.2 percent. The delayed Wholesale Inventories (Preliminary) for January will be revealed at 10.00 am ET. In the prior month, the inventories were up 0.2 ...
Futures for the Dow Jones Industrial Average and other major stock indexes traded lower ahead of Thursday's market open, threatening to add to Wednesday's losses, as oil prices jumped. Meanwhile, Micron Technology was an early loser on the stock market today.
Futures for the Dow Jones Industrial Average and other major stock indexes traded lower ahead of Thursday's market open, threatening to add to Wednesday's losses, as oil prices jumped. Meanwhile, Micron Technology was an early loser on the stock market today.
China Natural Resources ( CHNR ) has signed a preliminary (non-binding) deal with its main shareholder, Feishang Group, to buy a company that will give it a 59.79% stake in HooRii Technology. Pursuant to the LOI, the acquisition's total consideration is estimated to range between $37 million and $40 million through a combination of cash and stock issuance. CHNR +73.03% premarket to $5.71. Source: ...
China Natural Resources ( CHNR ) has signed a preliminary (non-binding) deal with its main shareholder, Feishang Group, to buy a company that will give it a 59.79% stake in HooRii Technology. Pursuant to the LOI, the acquisition's total consideration is estimated to range between $37 million and $40 million through a combination of cash and stock issuance. CHNR +73.03% premarket to $5.71. Source: Press Release More on China Natural Resources Financial information for China Natural Resources
He also alleged that some of the government's "key decision makers" had limited access to Trump in the lead up to the Iran war and that there had been no "robust debate" ahead of the strikes.
He also alleged that some of the government's "key decision makers" had limited access to Trump in the lead up to the Iran war and that there had been no "robust debate" ahead of the strikes.
Josh Toussaint-Strauss discovers that great restaurants are disappearing on Google Maps, despite having lots of reviews and high ratings, so he sets out to get to the bottom of it and finds out that what Google Maps shows us isn't necessarily what we want to see. Josh discusses the issue with Lauren Leek, a social data scientist, who grew so frustrated with Google's results that she decided to bui...
Josh Toussaint-Strauss discovers that great restaurants are disappearing on Google Maps, despite having lots of reviews and high ratings, so he sets out to get to the bottom of it and finds out that what Google Maps shows us isn't necessarily what we want to see. Josh discusses the issue with Lauren Leek, a social data scientist, who grew so frustrated with Google's results that she decided to build her own map of London's restaurants. You can check out Lauren's alternative map here Continue reading...
Tejon Ranch press release ( TRC ): Q4 GAAP EPS of $0.06. Revenue of $23.3M (+7.9% Y/Y). More on Tejon Ranch Tejon Ranch: A Free Option For Mixed-Use Californian Developments Seeking Alpha’s Quant Rating on Tejon Ranch Historical earnings data for Tejon Ranch Financial information for Tejon Ranch
Tejon Ranch press release ( TRC ): Q4 GAAP EPS of $0.06. Revenue of $23.3M (+7.9% Y/Y). More on Tejon Ranch Tejon Ranch: A Free Option For Mixed-Use Californian Developments Seeking Alpha’s Quant Rating on Tejon Ranch Historical earnings data for Tejon Ranch Financial information for Tejon Ranch
Maritime traffic through the Strait of Hormuz — a vital route for exports of oil, gas and other commodities from the Persian Gulf — remains at a near-standstill weeks after the US and Israel launched strikes against Iran. Iran sits above the strategic waterway and has effectively closed it to all but approved vessels. Oil and gas prices have surged amid the collapse in Hormuz transits, attacks on ...
Maritime traffic through the Strait of Hormuz — a vital route for exports of oil, gas and other commodities from the Persian Gulf — remains at a near-standstill weeks after the US and Israel launched strikes against Iran. Iran sits above the strategic waterway and has effectively closed it to all but approved vessels. Oil and gas prices have surged amid the collapse in Hormuz transits, attacks on Middle Eastern energy infrastructure, and cuts to Gulf crude production as storage tanks fill up. The US is considering naval escorts to try to restore shipping activity. President Donald Trump has tried to recruit partners in Europe and Asia to help reopen the waterway, but allies are wary of being dragged into the wider war. What’s the significance of the Strait of Hormuz? Situated between Iran to its north and the United Arab Emirates and Oman to its south, the Strait of Hormuz connects the Persian Gulf to the Indian Ocean. It’s around 100 miles (161 kilometers) long and 24 miles wide at its narrowest point. The shipping lanes in each direction are just two miles wide. The strait is an essential passage for the oil market, handling about a quarter of the world’s seaborne oil trade. Saudi Arabia, Iraq, Iran, Kuwait, Bahrain, Qatar and the UAE all ship crude through Hormuz and the majority of their cargoes go to Asia. Gulf countries are also home to refineries that produce large volumes of diesel, naphtha — used to make plastics and gasoline — and other petroleum products that are exported globally via the strait. The waterway is crucial for the liquefied natural gas market, too. Around a fifth of the world’s LNG supply — mostly from Qatar — passed through this channel last year. Asian countries buy most of the super-chilled fuel shipped from the Middle East. Beyond energy, the Strait of Hormuz is a choke point for products including aluminum and fertilizer . Explainer: How the Iran War Is Disrupting Global Oil and Gas Supply Hormuz Reopening Looks Unlikely Without a Truce...
US auto safety regulators escalated an investigation of Tesla Inc. ’s partially automated driving system marketed as “Full-Self Driving,” citing additional crashes pointing to potential flaws in the technology’s ability to handle driving conditions with reduced visibility. A review of the incidents raised concern that the system fails to detect and warn drivers appropriately when the visibility of...
US auto safety regulators escalated an investigation of Tesla Inc. ’s partially automated driving system marketed as “Full-Self Driving,” citing additional crashes pointing to potential flaws in the technology’s ability to handle driving conditions with reduced visibility. A review of the incidents raised concern that the system fails to detect and warn drivers appropriately when the visibility of the vehicle’s cameras is degraded, the National Highway Traffic Safety Administration said in a memo posted to its website. The agency this week upgraded its probe, started in 2024 , to what it calls an engineering analysis. Read More: Fatal Tesla Crash Shows Dangers of Full Self-Driving Tesla didn’t immediately respond to a request for comment from Bloomberg News. The move, which could provide the basis for NHTSA to eventually seek a recall, heightens scrutiny of technology that underpins Tesla’s future ambitions around autonomous driving and robotaxi operations. Chief Executive Officer Elon Musk has said the automaker’s ability to develop autonomous-vehicle technology ultimately will determine whether the company is worth lots of money, or “ basically zero .” The new NHTSA memo disclosing the probe identified nine crashes involving the automated system, up from four when it first began investigating in 2024. In crashes the agency reviewed, “the FSD system did not detect common roadway conditions that impaired its visibility and/or provide alerts when camera performance had deteriorated until immediately before the crash occurred.” NHTSA also said Tesla cited company “data and labeling limitations” when seeking to identify additional similar incidents, which the agency said could have led to an under-reporting of crashes during some time periods.
Grammy-nominated rapper Afroman won a defamation lawsuit filed by seven Ohio sheriff’s deputies who sued him over music videos in which he used home security footage to mock their raid of his home. “We did it, America! Yeah, we did it! Freedom of speech! Right on! Right on!” the 51-year-old rapper, born Joseph Foreman, shouted outside the courthouse after the Wednesday evening verdict. He later po...
Grammy-nominated rapper Afroman won a defamation lawsuit filed by seven Ohio sheriff’s deputies who sued him over music videos in which he used home security footage to mock their raid of his home. “We did it, America! Yeah, we did it! Freedom of speech! Right on! Right on!” the 51-year-old rapper, born Joseph Foreman, shouted outside the courthouse after the Wednesday evening verdict. He later posted the clip to social media. The case tested the limits of parody and the license artists can take in social commentary directed at public figures. The deputies, collectively, sought nearly US$4 million in damages. Advertisement “No reasonable person would expect a police officer not to be criticised. They’ve been called names before,” defence lawyer David Osborne said in closing arguments for the rapper and comedian, known for his breakout 2000 hit “Because I Got High”. A screengrab from CCTV footage shows deputies raiding Joseph Foreman’s home in 2022. Photo: Afroman The Adams County deputies said they were publicly harassed over the viral videos, which were viewed more than 3 million times on YouTube.
The US boss of PricewaterhouseCoopers has warned that partners who do not get to grips with AI have no future at the consulting firm. Paul Griggs said senior staff who were not “paranoid about being AI-first” would probably be replaced by others who were ready to embrace the technology. “I don’t think anyone gets a free pass here. Anyone,” Griggs told the Financial Times. An employee who thinks th...
The US boss of PricewaterhouseCoopers has warned that partners who do not get to grips with AI have no future at the consulting firm. Paul Griggs said senior staff who were not “paranoid about being AI-first” would probably be replaced by others who were ready to embrace the technology. “I don’t think anyone gets a free pass here. Anyone,” Griggs told the Financial Times. An employee who thinks they have the “opportunity to opt out” of AI is “not going to be here that long”, Griggs added. Consulting is one of many white-collar industries that experts believe are in the firing line of advances in AI, owing to the technology’s ability to automate work related to such tasks as accounting, research and analysing business problems. However, data also shows that big consulting groups like PwC, Accenture and McKinsey are benefiting from clients seeking help in implementing AI across their businesses. K2 Consulting Research, which monitors the industry, has said global consulting grew 5.5% in 2025, a doubling of the previous year’s growth rate. Griggs said PwC’s employment strategy had changed as AI altered its working practices, but the firm remained “a net acquirer of talent at this point of time”. “Am I recruiting the same number of accountants and traditional consultants vis-a-vis engineers, on a proportionate basis, that I was three years ago? No,” he said. Griggs added that PwC was hiring more data specialists. Last year the firm cut staff numbers by 5,600, taking its number of global employees to fewer than 365,000. Griggs told the FT that PwC would change some tax and consulting services into AI-powered automated tools that could be paid for with an annual subscription. Traditionally, consultancies bill clients based on the number of hours worked on their projects. The new tax and consulting tools could be accessed “without a PwC person in the loop”, Griggs said. PwC is launching “PwC One”, an AI platform that offers six automated services for clients, including an ...
A version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight to your inbox. Barely four years after investo...
A version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight to your inbox. Barely four years after investors fled commercial real estate funds, due to fast-rising interest rates, some are now piling back in, as they rotate out of the once-hot private credit play . Investments in non-traded, publicly registered REITs went from $33.2 billion in 2022 to $5.7 billion in 2025, but gains in just the last few months are indicative of a turnaround. These REITs raised $593 million from investors in January, an increase from $467 million in December and $416 million in November, according to tracking from Stanger Investment Banking. Additional data from CoStar shows investments in non-traded REITs have seen gains over the third and fourth quarters of last year. Some expect that as more money comes out of private credit, it will end up in real estate. "We believe that will happen," said Kevin Gannon, chairman and CEO of Stanger. "We're starting to see signs of it in the fundraising starting to increase on the real estate side. It's slower, but starting to increase. And the redemptions on the real estate side have subsided, and what's going on now is there's a rotation of capital." When asked recently on CNBC's "Squawk on the Street" if investment advisors might be taking clients out of Blackstone Private Credit (BCRED) and putting them into Blackstone Real Estate Income Trust (BREIT), the company's President and Chief Operating Officer, Jonathan Gray, said, "I don't know if that's happening dollar for dollar, but when they get concerned about something, they may pause. I will tell you, interestingly, here in the first quarter, BREIT had its best inflows since 2022." Commercial real estate...