This course is intended to teach REIT modeling to professionals and students who are interested in a career as a financial analyst. First, we will learn about the REIT industry’s unique drivers and challenges. Then, we will create REIT valuation and financial models from scratch…
Wall Street Prep – Real Estate (REIT) Modeling
This course is ideal for equity research, investment banking, and real-estate professionals who are interested in REITs. Trainees build financial and valuation models for a REIT the way it’s done on the job.
Real Estate (REIT) Modeling
This course is intended to teach REIT modeling to professionals and students who are interested in a career as a financial analyst. First, we will learn about the REIT industry’s unique drivers and challenges. Then, we will build REIT valuation and financial models using a step-by-step approach.-By-Step-by-step approach for BRE Properties. We will be covering best practices for modeling the same store properties, acquisitions as well development and disposition. Additionally, we will deconstruct and model key REIT profit metrics, such as FFO and AFFO. The second section of the course will focus on valuation modeling with a particular emphasis on the Net Asset Valu (NAV) approach.
Course Objective
After completion, trainees will have created a complete REIT model from scratch.
First, we will learn about the REIT industry’s unique drivers and challenges. Then, we will build REIT valuation and financial models using a step-by-step approach.-By-Step-by-step approach for BRE Properties. We’ll also discuss best practices for modeling the same store properties, acquisitions as well development and disposition. Additionally, we will model and deconstruct important REIT profit metrics, such as FFO (Financial Operating Income), AFFO (and CAD). Part 2 focuses on valuation modeling with a particular focus on the Net Asset Valu (NAV) approach.
What you will learn
- In-depth REIT industry profile, drivers, terminology, tax advantages and structure (UPREIT’s and DOWNREIT’s)
- Segment-Level modeling (same store properties and acquisitions, development, and dispositions).
- Sector REIT-Forecasting and specific drivers
- Common REIT valuation techniques include Net Asset Valu (NAV), comparable company analysis and transaction analysis, and discounted cashflow (DCF) analysis
- Modeling REIT-Specific metrics and ratios – funds of operations (FFO), adjusted funds from operation (AFFO /CAD)
Highlights of the Course
Step-By-Step Modeling Instruction
Wall Street Prep’s Real Estate (REIT) Modeling Course delivers step-By-Step lessons via videos, readings and ready-To-Use real-world case studies to illustrate how you can use valuation and restructuring models.
Real World “On the Job” Training in Investment Banking
The Real Estate (REIT) Modeling The Self Study program bridges academic and real-world differences and provides trainees with practical financial skills that will allow them to succeed in the workplace. Students follow a case study format. They use the tutorial guide and Excel templates to navigate to the relevant external documents (SEC filings, research report, etc.). Complex projects can be built by following these steps: Real Estate (REIT), models are exactly the same as they would be on the job.
Support Center
Upon enrollment, students gain 24-Access to the Internet for a month without any fees Wall Street Prep’s Online Support Center, where they receive answers to questions, free downloads, and important updates.
Macabacus Excel Plug-In
All Macabacus users have free access-In-One suite of time-These tools are designed to save Excel users who use Excel to build financial models. Use keyboard shortcuts for common number formats, to cycle rapidly through different font and color schemes and to navigate a formula’s inputs across worksheets and workbooks. Use the powerful keyboard shortcuts to quickly understand complex formulas. ‘Precedents’ And ‘Dependents’ Tool, and much more. This 6-Macabacus includes a full version that includes Powerpoint and Word, which is available for a month of free access!
Prerequisites
This course does NOT require any previous background. Real Estate (REIT) Modeling. Participants should be familiar with basic accounting concepts (e.g. interaction of balance sheet and cash flow and income statement) as well as proficiency in Excel.
Course Agenda
Overview of REIT
- Profile of the industry
- Industry terminology and drivers
- Tax advantages of REIT’s
- REIT basics
- The structure of REIT’s (UPREIT’s and DOWNREIT’s)
Modeling REIT financial statements
- Step-By-Step modeling: Net Asset Value (NAV).
- Common adjustments to NAV
- Implied cap rates
- Common NAV mistakes and implicit assumptions
- The financials of REIT’s as compared to other companies
- Use press releases, financial filings, or historical data to assist you
- GAAP vs. GAAP vs.-GAAP presentation for financial data from REITs
- Sector-Forecasting and specific drivers
- Forecasting Funds from Operations (FFO), adjusted money from operations (AFFO/CAD).Modeling same store properties
- Impact Modeling Acquisitions, developments, and dispositions in the three financial statements
- Operation ceased
- Forecasting of REIT’s balance sheet: Properties, CIP and land under construction
- Building a cash flow statement for REITs
NAV modeling
- Step-By-Step modeling: Net asset value (NAV).
- Common adjustments to NAV
- Implied cap rates
- Common NAV mistakes and implicit assumptions
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Course Features
- Lectures 0
- Quizzes 0
- Duration Lifetime access
- Skill level All levels
- Students 119
- Assessments Yes