About the StockCentral REIT Data

The data utilized in the StockCentral REIT Center is provided by Morningstar for all North American publicly-traded Real Estate Investment Trusts (REITs).
 
Funds from Operations (FFO) is a non-GAAP measure, but is commonly used in REIT analysis and is generally considered a better way to understand a REIT's financial position. Since real estate typically does not depreciate in value, including a depreciation cost on property that is appreciating doesn’t provide an accurate snapshot of the company's finances.
 
FFO is calculated for all REITS according to the following formula: Net income + gain/loss (realized & unrealized) on investment securities + asset impairment charge + depreciation & amortization + gain/ loss on  sale of business & property plant & equipment. FFO/S is then calculated by dividing FFO by fully diluted shares outstanding. NOTE: FFO is calculated in the same way for all REITs in the coverage universe, and this may differ from the way that individual REITs calculate their own FFO.
 
Throughout the StockCentral website, Earnings per Share (EPS) is replaced by FFO/S, as is appropriate for REIT analysis. Price/Earnings Ratios are also calculated using FFO/S, so they effectively become P/FFO Ratios. Dividend Payout Ratios are calculated by comparing dividends to FFO/S, and ROE is calculated by comparing FFO earned in a year to the company’s total equity.
 
ITK files are available for SSG Plus users. Click the SSG button at the top of the company's REIT Report on the StockCentral website, and manually import the file into SSG Plus. In the SSG file, FFO/S replaces EPS throughout, though the data labels in the software program do not change. NOTE: It is recommended that REIT studies be locked in SSG Plus to prevent them from being overwritten when updating other companies in the user's Library. The stock study will then need to be updated manually each quarter and whenever the portfolio or study is reviewed to enter recently reported FFO/S. You can find quarterly and annual FFO/S in the table on the REIT Report page.