This article was written by

Follow

Analyst’s Disclosure: I/we have a beneficial long position in the shares of RIET, HOMZ, IRET, ALL HOLDINGS IN THE IREIT+HOYA PORTFOLIOS either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Hoya Capital Research & Index Innovations (“Hoya Capital”) is an affiliate of Hoya Capital Real Estate, a registered investment advisory firm based in Rowayton, Connecticut, that provides investment advisory services to ETFs, individuals, and institutions. Hoya Capital Research & Index Innovations provides non-advisory services, including market commentary, research, and index administration focused on publicly traded securities in the real estate industry. This published commentary is for informational and educational purposes only. Nothing on this site nor any commentary published by Hoya Capital is intended to be investment, tax, or legal advice or an offer to buy or sell securities. This commentary is impersonal and should not be considered a recommendation that any particular security, portfolio of securities, or investment strategy is suitable for any specific individual, nor should it be viewed as a solicitation or offer for any advisory service offered by Hoya Capital Real Estate. Please consult with your investment, tax, or legal adviser regarding your individual circumstances before investing. The views and opinions in all published commentary are as of the date of publication and are subject to change without notice. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Any market data quoted represents past performance, which is no guarantee of future results. There is no guarantee that any historical trend illustrated herein will be repeated in the future, and there is no way to predict precisely when such a trend will begin. There is no guarantee that any outlook made in this commentary will be realized. Readers should understand that investing involves risk, and loss of principal is possible. Investments in real estate companies and/or housing industry companies involve unique risks, as do investments in ETFs. The information presented does not reflect the performance of any fund or other account managed or serviced by Hoya Capital Real Estate. An investor cannot invest directly in an index, and index performance does not reflect the deduction of any fees, expenses, or taxes. Hoya Capital Real Estate and Hoya Capital Research & Index Innovations have no business relationship with any company discussed or mentioned and never receive compensation from any company discussed or mentioned. Hoya Capital Real Estate, its affiliates, and/or its clients and/or its employees may hold positions in securities or funds discussed on this website and in our published commentary. A complete list of holdings and additional important disclosures is available at www.HoyaCapital.com.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

The intake includes 44 new apprentices at Tata Steel’s operations in Wales

Tata Steel UK has welcomed its latest intake of apprentices across its operations, including 44 in Wales.

Some 24 apprentices joined Port Talbot, eight at Trostre, four at Llanwern, one at Catnic in Caerphilly and seven at Tata Steel’s Shotton operations.

The new recruits are starting careers across a range of disciplines, including mechanical and electrical engineering, fabrication and welding, machining and process control and automation, as well as mechanical and electrical degree apprenticeships.

They form part of a UK-wide intake of 55 apprentices joining Tata Steel with four also starting at Hartlepool and further seven due to join Steelpark and Corby later this month.

Secretary of State for Wales Stephen Kinnock said: “The UK Government is backing Welsh steelmaking and backing young people to build the skills they need to access the jobs of the future in our key industries.

“In the past week I have been to Tata Steel’s sites in Port Talbot and Llanwern and seen how the company is investing in its local workforce and in apprenticeships.

“The UK Government wants to see good jobs in every community and Tata is one of the companies helping to deliver that vision.”

Deputy Minister for Skills and Tertiary Education, Cefin Campbell, said: “I am delighted so many new apprentices are joining Tata Steel UK this September, including 44 right here in Wales.

“Apprenticeships are central to our future skills system, offering people the chance to build rewarding careers while helping to develop the skilled workforce Wales needs. It’s fantastic to see people starting out across such a wide range of disciplines showing the different pathways available.

“I want to wish all the new apprentices every success as they take this exciting step in their careers.”

Tata Steel in the UK has the ambition to produce net-zero steel by 2045 at the latest, and to have reduced 30% of its CO2 emissions by 2030.

However, its £1.25bn electric arc furnace at Port Talbot is now not scheduled to become operational until 2028. The project, which will make steel from scrap, was planned to open next year, but has been pushed back due to a delay by the National Grid in providing the required connection to the grid.

Since the ending of blast furnace primary steel making, and ahead of the arc furnace, Indian-owned Tata has been importing slab and hot rolled coil to support its downstream manufacturing and distribution operations.

WAUSAU, Wis. — U.S. Rep. Tom Tiffany, the Republican nominee for Wisconsin governor, said he is grateful to be alive after the small plane he was traveling in lost power and made an emergency landing in Lake Wausau on Saturday night, forcing him and his pilot to swim to safety as the aircraft sank beneath them.

Tiffany, 68, was returning home from the La Crosse County Lincoln Day Dinner in Onalaska when the single-engine, four-seat Beechcraft Bonanza he was aboard lost power while approaching Wausau Downtown Airport. The pilot, 73-year-old Leonard Boltz of Pearson, Wisconsin, was forced to bring the aircraft down in the water. The Marathon County Sheriff’s Office said the plane experienced a mechanical issue around 8:49 p.m. as it neared the airport.

Tiffany described the moments leading up to the crash during a news conference Sunday in Wausau, recalling the pilot’s warning just before impact. “As we went to our final approach, the plane lost power, and Len said to me: ‘We are going down. Pull your seat belt tight.’ That’s exactly what I did. I gave it a yank and pulled it good and tight,” Tiffany told reporters. “And it was probably about 10 seconds later. Not sure the exact timing, but probably about 10 seconds later, we hit the water. And after the plane settled, probably a couple seconds, we looked at each other. ‘Are you OK?’ And he said to me, ‘Are you OK?’ And like, ‘Yeah, doing fine.’”

Tiffany said the impact was forceful despite the short descent, comparing the sensation to a car crash. “We were down to 70, 80 miles an hour at that point, and so it was a fast-moving car crash, and all that happened to me was my head hit the dash in front of me, and that was the extent of the damage,” he said.

After the plane hit the water, Tiffany said he and Boltz called 911 and waited on top of the aircraft as it began to fill with water and sink, before ultimately swimming roughly 150 feet to reach a shallow area of the lake where they could stand and wait for rescuers. In a statement posted on social media platform X shortly after the incident, Tiffany wrote: “The plane I was traveling in lost power as we approached the Wausau Downtown Airport. The pilot made an emergency water landing in Lake Wausau. After landing, we called 911. As the plane began to submerge, we exited the aircraft and swam to a shallow area, where we waited until emergency responders reached us by boat.”

Emergency responders located both men in the water, described as “alert and conscious,” according to radio communications obtained by NBC News, and pulled them out at 9:05 p.m. via a Wausau Fire Department airboat. Both were transported to Aspirus Wausau Hospital for treatment. Tiffany suffered a laceration above his right eye that required 12 stitches, while Boltz, whom Tiffany described as a retired Air Force pilot, received four stitches for his injuries. Both men were described as having sustained only minor injuries overall.

Tiffany credited Boltz’s experience and quick thinking with helping them survive the crash, specifically pointing to the pilot’s decision to raise the aircraft’s landing gear before hitting the water. “He was savvy and quick enough to pull the landing gear up. He might have saved us as a result of that,” Tiffany said, growing emotional as he spoke.

In his social media statement, Tiffany expressed thanks to those who came to their aid. “I want to express my deepest gratitude to the pilot, the Wausau Fire Department, and all of the first responders who came to our aid so quickly,” he wrote, adding that the pair received “excellent care” at the hospital and that “both the pilot and I sustained only minor injuries.” He also credited a higher power for the outcome, writing separately, “God was watching over us tonight, and I am incredibly grateful to be here in the hospital with my wife, Chris, by my side. An experience like this reminds you just how precious life is.”

Tiffany’s Democratic opponent in the gubernatorial race, Milwaukee County Executive David Crowley, offered well wishes following the incident. “I’m grateful to God that Congressman Tiffany and no one else was hurt in this horrifying incident, which could have been a tragedy if not for the heroism of the pilot,” Crowley wrote on X. “I wish them and the Congressman a quick recovery and that they can find solace with their loved ones.”

The Marathon County Sheriff’s Office said the aircraft remained in Lake Wausau following the crash, with a no-wake buoy placed near the wreckage and boaters urged to avoid the marked area until crews could remove the plane. Recovery operations for the aircraft were expected to begin Monday.

Both the Federal Aviation Administration and the National Transportation Safety Board are investigating the cause of the plane’s sudden loss of power. Officials have said preliminary findings indicate the aircraft experienced a mechanical issue on its approach to the airport, though a full determination of the cause has not yet been released.

Tiffany, who represents Wisconsin’s 7th Congressional District and has been endorsed by President Donald Trump in the state’s gubernatorial race, said doctors have placed him on a temporary flight ban, which will force him to miss some scheduled campaign stops, including a planned trip to Washington, D.C. Despite the setback, Tiffany said the incident would not derail his campaign. “I signed up for this job, I’m going to finish the job,” he said, vowing to be back out campaigning as early as Monday.

The Wisconsin gubernatorial race, in which Tiffany faces Crowley, is scheduled for November 3.

Tom Zaunmayr speaks to Justin Fris about why Indigenous business-based acquisitions are on the rise in WA.

Plus: Cutifani leaves Woodside for Northern Star; House brick shortage biting; PolarBlue to exit WA for $1.5b Tasmanian facility. 

Sports hall, a historic hotel and a new shop

A trio of small but impactful projects are in the running for the Small Non-residential Scheme of the Year category in the 2026 ProCon Leicestershire property and construction awards.

A sports hall, a historic hotel and a new shop are the finalists in this award, which is sponsored by Merali Beedle and is one of seven in this year’s 23rd ProCon Leicestershire Awards.

The Small Non-residential Scheme of the Year finalists are:

Central Co-op – The Bluebell Inn, Desford

Submitted by Corporate Architecture

A new food shop was created for Central Co-op whilst safeguarding the long-term future of the adjoining Bluebell Inn in Desford.

The heritage-led project combined conservation, commercial viability and sustainable design by transforming a café and residential accommodation into a modern 4,000 square feet convenience store with new extensions.

Located in the Desford Conservation Area and adjacent to a Grade II* listed building, the project required a balanced approach that respected the historic environment and met the operational requirements of a contemporary retailer.

LGS Stoneygate New Sports Hall, Leicester

Submitted by Watson Batty Architects, LGS Stoneygate (Leicester Grammar School Trust), Addison Hunt, CPW, Curtins, Bailey Construction and YMD Boon

The new Sports Hall at Leicester Grammar School is a modern four-court facility that supports curriculum PE, sport, training, competition and wider community use.

The project links directly to the senior school building via a new entrance lobby, allowing existing changing, toilet and classroom facilities to be shared rather than duplicated.

The hall delivers a Sport England compliant, low-carbon facility with enhanced thermal performance, air source heat pump heating, acoustic control and durable sports finishes.

The Grand Hotel – Phase 1, Leicester

Submitted by Hickman & Smith Architects, The Grand Hotel and Leicester City Council

The restoration of Leicester’s Grand Hotel transformed the appearance of one of Leicester’s most prominent listed buildings. Over time, piecemeal alterations had eroded the architectural quality of the ground floor.

Oversized fascias, shallow aluminium shopfronts, roller shutters and fragmented frontages have been replaced by a Victorian composition of traditionally detailed timber shopfronts, polished granite, Portland stone, decorative ironwork, deep recessed entrances and coordinated signage.

The reinstated principal hotel entrance and canopy once again establish the building as a focal point, restoring its civic presence on Leicester’s principal route between the railway station and the city centre.

Amanda Rogowska, Partner at award sponsor Merali Beedle, said: “Merali Beedle is delighted to support the Small Non-Residential Award. The impressive breadth of submissions highlights the extraordinary creativity and passion shaping today’s built environment.”

The 2026 ProCon Awards are backed by two corporate sponsors: Salus and Unique Window Systems. The Leicester Mercury’s Business Live is the media partner.

The other six awards are:

• Rising Star of the Year, sponsored by Galliford Try
• Small Residential Scheme of the Year, sponsored by Fusion 360 Group
• Medium Residential Scheme of the Year, sponsored by Fusion 360 Group
• Medium Non-residential Scheme of the Year, sponsored by Knights
• Large Non-residential Scheme of the Year, sponsored by Procure Partnerships Framework
• Regeneration Project of the Year, sponsored by NJC Surveys and AR Demolition

All the contenders will be in the spotlight at a Finalist Showcase at the 2025 winner Jewry Wall in Leicester from 6pm on Wednesday October 7.

Finalists and winners will be celebrated at a ceremony on November 12 at Leicester City’s King Power Stadium. Details of all the awards finalists are at: procon-leicestershire.co.uk/procon-awards/2026

Companies keen to attend the Finalist Showcase, the ceremony or to enquire about sponsorship opportunities can contact Allyson Jeffrey on 0116 278 1443 or via email: info@procon-leicestershire.co.uk

The Prime Minister is set to pitch the government as a partner for growth to top chiefs on Monday

Andy Burnham will call for a “culture shift” in how Britain does business as he meets senior executives from the likes of Aviva, Rolls Royce and Revolut UK on Monday.

The Prime Minister is set to position the government as a partner for growth to business leaders at a reception at Downing Street today. Burnham is expected to tell his guests that the government’s devolution plans will enable infrastructure to be delivered more swiftly, draw in greater investment and generate more opportunities in communities throughout Britain.

Speaking ahead of the event, Burnham said: “If we’re going to unlock this country’s full potential, we need a culture shift in how Britain does business.

“That means putting government firmly on the side of the people who take risks, start companies, create jobs and bring new ideas to life. It means ensuring ambition is rewarded, making it easier to start and grow a business, and giving people the confidence that if they have a great idea, they’ll get all the support they need to bring it to life.”

The gathering will follow numerous industries urging the government to cut taxes and reduce the cost of doing business as Chancellor John Healey begins drafting the Autumn Budget, due to be delivered on October 28.

Some economists have predicted that the £22bn in fiscal headroom left by former Chancellor Rachel Reeves in her 2025 Budget could be reduced by as much as half following a spike in gilt yields during a recent bond sell-off,

reports City AM.

Analysts have cautioned that Healey has little scope for additional borrowing and will be compelled to raise taxes in order to remain within the fiscal rules, which stipulate that day-to-day expenditure must be matched by receipts by 2030.

The heads of Britain’s largest industry groups launched their campaigns ahead of the Budget last week with demands to cut costs and kickstart economic growth.

A number of revenue-generating measures have been rumoured to be under consideration by Healey, including levies on banks, an increase to capital gains tax and the introduction of a contentious exit tax.

Prior to the main reception, Burnham will also chair a roundtable with many of the nation’s leading entrepreneurs, including Octopus Energy, Oxford Quantum Circuits, and Oaknorth.

Founders have been amongst the most outspoken critics regarding a proposed exit levy, which would be imposed on business owners should they relocate abroad. Several executives previously told City AM that speculation alone was already prompting some founders to contemplate moving overseas.

The County Durham detection technology firm saw a fall in profitability but says it has ‘positive momentum’ for the year ahead

Detection technology company Kromek has hailed a year of “strong operational and commercial progress” despite seeing a fall in profitability.

The County Durham firm has released final results for the year to the end of April which show that its revenues rose slightly to £27.1m. But operating profits fell in the same period, going from £4.7m a year earlier to £2.9m.

2025 had been a breakthrough year for the NETPark company as it turned years of leading-edge science into profit for the first time. The company has maintained profitability and said it had seen particular growth in its advanced imaging and CBRN (chemical, biological, radiation and nuclear) detection divisions.

Around half the group’s revenues came in North America, but it saw growth in the UK, Europe and Asia.

CEO Dr Arnab Basu said: “FY 2026 was a year of strong operational and commercial progress for Kromek. We delivered increased revenue, with significant underlying growth in Advanced Imaging and further growth in CBRN Detection, reflecting increased delivery on long-term customer programmes, new order wins and the continued expansion of our international distributor network.

“We also made further progress with major OEMs in next-generation medical imaging, secured an initial order under the UK Government’s Radiological Nuclear Detection Framework, and continued to invest in manufacturing capability, automation and our intellectual property portfolio.

“We enter FY 2027 with positive momentum, supported by a healthy order book, an encouraging commercial pipeline and strong engagement with customers across both divisions.

“As demand develops for our Advanced Imaging technologies and government and security customers continue to invest in CBRN detection capabilities, we expect to deliver results in line with market expectations, including significant revenue growth in both divisions, while maintaining disciplined cost control and investment in key growth opportunities. Accordingly, the board continues to look forward to the year ahead with confidence.”

The company, which has manufacturing operations in the UK and the US after spinning out of research at Durham University, has been recognised for its commitment to innovation, and now holds more than 190 patents globally. As well as contracts with global Governments and defence organisations, it is working with Newcastle Upon Tyne Hospitals NHS Foundation Trust, Newcastle University and University College London on new technology to better detect breast cancer.