Intermediate
Price to FFO and the quality of growth
A price to FFO multiple only becomes meaningful after the earnings definition, share count and growth quality are aligned. A lower multiple can reflect weaker economics.
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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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Multiples · All lessons
Valuation and Returns
Compare income yields, property values and the price paid for growth.