National Storage Affiliates Trust (NYSE:NSA) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

RDOG, the ALPS REIT Dividend Dogs ETF, gained 22.1% year to date through July 17, helped by M&A, credit upgrades and refinancings in its holdings. National Storage Affiliates jumped 66.2% after Public Storage agreed to buy it in March. Other contributors included FrontView, Postal Realty and RLJ Lodging. Nareit reported 8 REIT mergers and privatizations worth $57.7B through June.

NVIDIA is investing in both proprietary and open-source AI models, including a $90M Series B round for Nous Research, valuing it at $1.5B. Nous claims its Hermes 4.3 model outperforms GPT-4o in key metrics, but lacks independent verification. The company aims to compete with lower pricing, offering $0.30 per million tokens compared to competitors' higher rates. NVIDIA's strategy ensures its hardware remains central to AI infrastructure regardless of the winning model architecture.

Piper Sandler initiated coverage of LCNB Corp. with a Neutral rating and $20 price target, citing its lower-cost funding, revenue diversity, and regional scarcity. The target is based on 11x 2027 EPS, a premium to peers. LCNB has a P/E of 10.98, a 4.71% dividend yield, and steady loan growth prospects of 2% in 2027, according to Piper Sandler.

Biohaven (BHVN) has licensed its IgG degrader portfolio to Ono Pharma for Asian markets, including Japan and South Korea. The deal includes up to $100M in payments, with Biohaven retaining rights outside these regions. The portfolio, led by BHV-1300 in Phase 3 trials for Graves' disease, aims to treat autoimmune disorders. Biohaven's stock closed at $11.88, up 1.18% in pre-market trading.

NASA plans to invest $359 million more in Boeing's Starliner capsule for ISS missions, despite technical issues. The agency aims to send an unmanned Starliner to the ISS by late 2027, with a manned mission possible in 2028. The ISS is set to retire by 2030. SpaceX's Dragon Crew is noted as a cheaper, more reliable alternative. NASA insists on having two providers for ISS missions. Dr. Ken Kremer, a space expert, highlights the high stakes of maintaining a presence in low Earth orbit.

HSBC downgraded Constellation Brands (STZ) from Buy to Hold, lowering its price target to $135.00 from $192.00. The stock is down 15% over the past year. HSBC cited weak performance in the company's top two brands despite a boost from the FIFA World Cup. The stock trades at a P/E ratio of 11.25, which some analysts consider undervalued.