What You’ll Uncover in Wall Street Prep Real Estate (REIT) Modeling
This course is designed to show REIT modeling to college students and professionals pursuing a profession in finance, with a particular deal with analyzing REITs. First, we’ll be taught concerning the REIT business’s distinctive drivers and challenges. We are going to then construct REIT monetary and valuation fashions from scratch…
Wall Street Prep – Real Estate (REIT) Modeling
Perfect for funding banking, fairness analysis, and actual property professionals with a deal with REITs. Trainees construct monetary and valuation fashions for a REIT the way in which it’s carried out on the job.
Real Estate (REIT) Modeling
This course is designed to show REIT modeling to college students and professionals pursuing a profession in finance, with a particular deal with analyzing REITs. First, we’ll be taught concerning the REIT business’s distinctive drivers and challenges. We are going to then construct REIT monetary and valuation fashions from scratch, utilizing a step-by-step strategy for an precise firm, BRE Properties. Alongside the way in which, we’ll cowl modeling finest practices for similar retailer properties, acquisitions, developments, and tendencies. As well as, we’ll mannequin and deconstruct important REIT revenue metrics like FFO, AFFO, and CAD. The second a part of the course will contain valuation modeling, with a deal with the Internet Asset Worth (NAV) strategy.
Course Goal
At completion, trainees can have developed a complete REIT mannequin from scratch.
First, we’ll be taught concerning the REIT business’s distinctive drivers and challenges. We are going to then construct REIT monetary and valuation fashions from scratch, utilizing a step-by-step strategy for an precise firm, BRE Properties. Alongside the way in which, we’ll cowl modeling finest practices for similar retailer properties, acquisitions, developments, and tendencies. As well as, we mannequin and deconstruct important REIT revenue metrics like FFO, AFFO, and CAD. Half 2 dives into valuation modeling, with a deal with the Internet Asset Worth (NAV) strategy.
What You Will Study
- In-depth REIT business profile, drivers, terminology, tax benefits and construction (UPREIT’s and DOWNREIT’s)
- Section-stage modeling (similar retailer properties, acquisitions, developments, and tendencies)
- REIT sector-particular drivers and forecasting finest practices
- Frequent REIT valuation approaches together with Internet Asset Worth (NAV), comparable firm and transaction analyses, and discounted money circulation (DCF) evaluation
- Modeling REIT-particular metrics and ratios – funds from operations (FFO) and adjusted funds from operations (AFFO / CAD)
Course Highlights
Step-By-Step Modeling Instruction
Wall Street Prep’s Real Estate (REIT) Modeling Course delivers step-by-step classes via movies, readings, prepared-to-use restructuring monetary and valuation fashions and workouts utilizing an actual case examine.
Real World “On the Job” Funding Banking Coaching
The Real Estate (REIT) Modeling Self Research program bridges the hole between teachers and the actual world and equips trainees with the sensible monetary ability set wanted to succeed on the job. This system makes use of a case examine format, as college students observe their tutorial information alongside the Excel mannequin templates, and are directed to the suitable exterior paperwork (SEC filings, analysis stories, and so forth.) in an effort to construct advanced Real Estate (REIT) fashions the way in which they might on the job.
Help Heart
Upon enrollment, college students achieve 24-month free entry to Wall Street Prep’s On-line Help Heart, the place they obtain solutions to questions, free downloads, and necessary updates.
Macabacus Excel Plugin
Free entry to Macabacus, all-in-one suite of time-saving instruments designed for individuals who construct monetary fashions in Excel. Use keyboard shortcuts for frequent quantity codecs, to cycle quickly via totally different font and coloration schemes and to navigate a components’s inputs throughout worksheets and workbooks. Simply perceive lengthy formulation with the highly effective ‘Precedents’ and ‘Dependents’ Device, and way more. This 6-month free entry is for the complete model of Macabacus that additionally contains important instruments for Powerpoint and Phrase!
Conditions
This course doesn’t assume a previous background in Real Estate (REIT) Modeling. Nonetheless, those that enroll ought to have an introductory information of accounting (e.g. interplay of stability sheet, money circulation, and earnings assertion) and proficiency in Excel.
Course Agenda
REIT overview
- Business profile
- Business drivers and terminology
- Tax benefits of REIT’s
- REIT fundamentals
- The construction of REIT’s (UPREIT’s and DOWNREIT’s)
Modeling REIT monetary statements
- Step-by-step modeling: Internet Asset Worth (NAV)
- Frequent changes to NAV
- Arriving at implied cap charges
- Frequent NAV pitfalls and implicit assumptions
- The financials of REIT’s as in comparison with different corporations
- Working with press releases, monetary filings, and historic knowledge
- GAAP vs. Non-GAAP presentation of REIT monetary knowledge
- Sector-particular drivers and forecasting finest practices
- Forecasting Funds from operations (FFO), adjusted funds from operations (AFFO / CAD)Modeling similar retailer properties
- Affect of Modeling acquisitions, developments and tendencies on the three monetary statements
- Discontinued operations
- REIT stability sheet forecasting Accomplished properties, CIP and land below improvement
- Constructing a REIT money circulation assertion
NAV modeling
- Step-by-step modeling: Internet Asset Worth (NAV)
- Frequent changes to NAV
- Arriving at implied cap charges
- Frequent NAV pitfalls and implicit assumptions
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