Demystify real estate investment trusts with this masterful guide from an industry expert. In The Intelligent REIT Investor Guide , author Brad Thomas walks you through both basic and advanced topics in the profitable, sustainable world of real estate investment trusts. From historical industry performance to the equations needed to calculate key metrics in REIT stocks, this book covers the history, vocabulary, principles, and analysis you’ll need to invest wisely in this growing asset class. Find out how you can strengthen your investment decisions and conclusions with publicly traded REITs in the short- and long-terms alike. With this book you’ Perfect for personal and professional investors alike, The Intelligent REIT Investor Guide is an invaluable guide to a crucial asset class that is often overlooked or poorly understood despite its undeniable impact on portfolios over the past 60 years.
Just completed The Intelligent REIT Investor by Brad Thomas. Sorry I didn't get to it sooner.
Thomas has written a book that combines the thinking of two legendary investors: 1) Ben Graham - author of Security Analysis, The Interpretation of Financial Statements and the INTELLIGENT INVESTOR and the Columbia Business Professor who mentored Warren Buffett, and 2) Ralph L. Block - longtime proponent of REITs (real estate investment trusts) and author of Investing in REITs
Ben Graham revolutionized the investment industry by suggesting long-term investors take a business approach when assessing the value and potential growth of stock and bond securities. For him, that meant paying attention to fundamentals like earnings and earnings growth, purchase price and a number of profitability ratios.
Graham never addressed REITs in his classic investing book because they're a more recent phenomena (i.e. modern REIT legislation was established in the 1990s). Henry Block wrote his definitive book on REITS in 2002. In his book, “Investing in REITs,” Block introduced readers to REIT structures, types of REITs (residential, industrial, etc.) and how to decipher the balance sheet (why do we use FFO to gage REIT performance vs. Net Income?). That book was written two decades ago.
Thomas' book does a wonderful job of combining the wisdom of both these authors and updating readers with more recent trends. For instance, technology has radically changed the nature of home and office properties over the past twenty years and Thomas does a commendable job of leading the reader through the changes.
Highly recommended for long term, buy and hold investors.
The book provides a general overview of what REITs are, the various kinds of REITs, as well as the pros and cons of said kinds. It enlists all publicly traded REITs in the US, as well as some corporations that deal with statistics and analysis regarding REITs. The most useful part of the book are chapters 7 and 8 where the author gives concise information regarding valuing different REITs through their quarterly/annual reports against each other by different metrics. I would say the book gives pretty good overall understanding on the topic for novice investors, as well as for people already in the trade.
A phenomenal overview in plain language for the REIT investor, prospective investor or money manager. Up to date for Covid, the information is comprehensive but easily accessible to a typical investor. Covering one of the best ways to invest in real estate, this book is a must read.