Are some REITS and REIT Managers delusional on the stock market?

One of the most amusing thing I read last week, was the Business Times interview with Digital Core REIT CEO, John Steward when the REIT announced that it was planning to acquire two data centres in Frankfurt and Dallas. The latter commented that “if the markets don’t cooperate, then we’ll do the smaller deal”. Investors should take note that the “smaller deal” is far less DPU accretive by as much as 36% at only 2% despite some onerous assumptions. Do markets co-operate with REITs? Ever? Or are REITs misplaced in having their fortunes determined by the markets, more ever so, for a market looking at further interest rates hikes, expected to go up from another 100 bp, based on the Federal Reserve latest Dot-plot?