Take advantage of this introductory training webinar developed as a pre-requisite program for SNL REIT School. You'll find it's also the perfect quick look at REITs for anyone new to the sector.

Recorded June 16, 2009

90 minutes

Background | Agenda | Instructors | Get log-in

Background

Analyzing a REIT differs from the analysis of other companies. For those new to the sector, this
90-minute training session provides a basic overview of the REIT sector, how a REIT operates
and the different methods used for REIT valuation.

Agenda

• REITs and their place in the commercial real estate sector

  • Market dynamics

  • U.S. vs. global public real estate markets

  REIT Legal,Tax and Governance Structures

  Types of REITs

  • Equity, mortgage, hybrids

  • Main property types, similarities/differences across property sectors, risk profiles, etc.

  • Traded vs. non-traded

  REIT Operating and Management Models

  REIT Financials and REIT Investing

  • How REITs differ from industrials, other financials, direct real-estate

  • Why invest in REITs?

  • REIT terminology

  Basics of REIT Financial Statements

  Valuation Methodologies

  • Historical Stock Trading

  • Comparable Companies

  • Discounted Cash Flow

  • Net Asset Value

Instructors

Ms. Abigail F. McCarthy, Vice President, Investment Affairs & Investor Education , NAREIT

Abigail McCarthy is vice president, Investment Affairs & Investor Education for the National Association of Real Estate Investment Trusts (NAREIT), the national, not-for-profit trade association of the real estate investment trust (REIT) and publicly traded real estate industry.

The objectives of NAREIT*s Investment Affairs & Investor Education Program are to communicate effectively the proposition of real estate investment through REITs to institutional and individual investors worldwide.   Ms. McCarthy is responsible for leading NAREIT's educational efforts targeted to both institutional and individual investors. Before joining NAREIT in August 1998, Ms. McCarthy worked for the U.S. House of Representatives on the House Budget Committee, under Chairman John Kasich. 

Ms. McCarthy is a graduate of the Saint Mary's College, Notre Dame, IN, where she earned her bachelor's of business administration degree and Johns Hopkins University where she earned a master*s of business administration.

Mr. Christopher G. Pappas, Managing Consultant, Global Realty Consulting

Christopher Pappas is the Managing Consultant for Global Realty Consulting (GRC), a New York based firm specializing in real estate and real estate securities consulting.  For GRC, Chris advises investors on real estate securities investments. He provides analysis of individual names and market outlook and valuation for the REIT industry as a whole.

Previously, Mr. Pappas was a portfolio manager of the Athos Real Estate Securities Fund (“Athos Fund”), a long/short real estate securities hedge fund sponsored by Caisse de Depot and the Praedium Group.  Chris was responsible for making investment decisions, analysis, and trading. The Athos Fund was nominated for “Fund of the Year” by Institutional Investor Real Estate Newsletter in 2004.   

Prior to joining Praedium, Mr. Pappas was the portfolio manager for Deutsche Bank's REIT fund. Chris holds a B.S. from Lehigh University and an MBA from Columbia University.

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