Produced by the Knowledge Center, expert training from S&P Global Market Intelligence
REIT School™: Analyst Training in Real Estate Investment Trusts provides a comprehensive introduction to the sector through lectures, group discussions and case studies led by a diverse slate of active practitioners, with a unique opportunity to network with attendees from across the spectrum of REITs and REIT finance.
In the nearly two decades since the first REIT School™, we have covered everything from the nuts and bolts of Net Asset Value to the influence of the "REIT Mafia" on capital flows and REIT valuation. In addition to perennial sessions covering real estate finance, property analysis and a capstone valuation case study, topics include:
- Real estate market cycles, the state of the sector and the competitive and strategic issues going forward
- The sources of financial data necessary for evaluating a REIT’s economic health and risk-return profile
- How fixed income analysts look at REITs and the qualitative factors, quantitative measures and benchmarks underlying REIT credit analysis
- Strategies for accessing the capital markets and managing capital
- Methods of evaluating acquisitions and dispositions at the property and corporate levels
- Issues surrounding REIT M&A
- Methodologies for valuing companies and structuring deals
What you'll gain:
- A comprehensive picture of the REIT sector and an understanding of a company's position within it.
- An enhanced ability to communicate with professionals working on Wall Street or within REITs.
- An introduction to proven methodologies for evaluating REITs as targets, investments or competitors.
- An understanding of options for accessing capital and their effects on the balance sheet.
- Improved analysis and forecasting techniques through an understanding of the impact of leverage levels, re-equitization and transactions at both the property and corporate levels.
- Knowledge of the multiple approaches to valuation in the sector.
- This program presumes familiarity with basic accounting and corporate finance concepts as well as a basic understanding of the REIT financial structure. Prior to the program, participants will receive materials for the Investing in REITs case study as well as suggested reading for those new to the sector.