We previously wrote about a very important pair of REIT metrics, funds from operations (FFO) and adjusted funds from operations (AFFO). REITs report AFFO as a measure of cash available for dividends to unitholders. The definitions of these two measures are: FFO = Net Income + Depreciation + Amortization + Gains/Losses on Property SalesAFFO = FFO – Recurring Capital … [Read more...] about Free Cash Flow and Enterprise Value
American Tower REIT
Overview American Tower (AMT) is the biggest American REIT. This infrastructure REIT specializes in the ownership and operation of telecommunications towers and other structures that it rents out to telecom companies and broadcasters. It has worldwide visibility in the red-hot data consumption market with its ever-expanding demand for towers, rooftop spires and similar … [Read more...] about American Tower REIT
Public Storage REIT
Overview Public Storage (PSA) is one of America’s largest REITs, a far cry from its first self-storage facility built in 1972. Principally, PSA acquires, develops, owns and operates self-storage facilities and is headquartered in Glendale CA. The company owns and operates thousands of facilities throughout the United States and Europe, occupying more than 142M sq. ft. of net … [Read more...] about Public Storage REIT
Simon Property Group REIT
Overview Simon Property Group (NYSE: SPG) is America’s largest retail REIT and shopping mall operation, it owns, develops and manages premier shopping, entertainment, dining, and mixed-use destinations, specializing in upscale properties of five types: Premium Outlet centers Regional malls The Mills Community/lifestyle centers International properties SPG owns five … [Read more...] about Simon Property Group REIT
Minto Apartment REIT
Minto Properties, Inc. (MPI), a Greenberg family real estate company with more than 60 years’ experience, is preparing to launch the Minto Apartment REIT with an initial raise of $200M. The REIT is unincorporated and open-ended, registered in Ontario. The REIT plans to concentrate on urban areas in Canada. MPI will retain majority ownership of the REIT and will provide certain … [Read more...] about Minto Apartment REIT