Produced by the Knowledge Center, expert training from S&P Global Market Intelligence
REIT Valuation is an intensive, hands-on program dedicated to the intricacies of valuing REITs in today's environment. This course is a graduate-level specialization, building on the foundation established at our REIT School.
Valuing REITs has always required a specialized approach. REITs have a language of their own – EPS and P/E are foreign words in conversations about NOI, FFO, and cap rates. This was challenging enough before REITs expanded beyond traditional office, retail, hotel, and industrial properties. The impact industries like healthcare, correctional facilities, and those of other specialty REITs can have on valuation drivers are as complex as they are diverse.
This seminar uses lectures, case studies and exercises to deconstruct the REIT valuation process. Seminar participants gain practical, hands-on experience in modeling and valuing REITs in a case study environment. Led by Christopher Haley, a top-ranked REIT equity analyst and long-time Knowledge Center instructor, REIT Valuation is the premier course on valuation for finance professionals who cover or work in the REIT sector.
After completing this seminar, you should be able to:
- Effectively use NAV, comparable analysis, DCF, and DDM to value REITs
- Identify key operating levers and evaluate earnings quality
- Build an earnings model and forecast future free cash flows and AFFO
- Understand the likely impact on valuation (public REITs) of reported REIT financial results
- Objectively understand sell-side research methodologies and how to better interpret research calls