Intermediate
Debt maturity ladders and refinancing risk
A debt maturity schedule shows when a REIT must repay or refinance its borrowing. Liquidity depends on the timing of obligations as well as the total...
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REITs Investment Guide
Understand property businesses, read REIT financial results and assess the price of income. Follow eight stages from ownership and leases to valuation, portfolio construction and advanced research.
Start with What you own when you buy a REIT, then follow the next lesson links. Explore 32 lessons with worked examples, exercises and further reading.
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Debt and Capital Decisions · All lessons
Debt and Capital Decisions
Examine refinancing, share issuance, acquisitions and development funding.
Intermediate
Fixed rates, floating rates and interest coverage
Fixed and floating rate debt respond differently to interest rates. Coverage ratios and hedge details help explain how a rate move reaches shareholder cash flow.
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Intermediate
Share issuance, buybacks and dilution
New shares can finance growth while reducing each existing share's percentage ownership. The key question is what happens to value and earnings per share after the...
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Intermediate
Acquisitions, disposals and development risk
Acquisitions, property sales and construction change both the asset base and the risk profile. Evaluate the financing and timing of each decision, not just the announced...
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