Mail - To X - с 1 Homework: REITs and RE Investment Performance Assignment i 5 points eBook Print L Lu Appraisa X Homewo X M Question X M Sign In X ✰ ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%25 References TOSHIBA Panel B. Balance Sheet Summary Assets Cash Rents receivable Properties @ cost Less: Accumulated depreciation Properties-net Total net assets Short term Mortgage debt* Total Shareholder equityt annotate X Liabilities Total liabilities and equity *At 8% interest only. 110,000,000 shares outstanding. vo. VOID Vou VOIL Required A Required B NAV Type here to search Required: National Property Trust with other REITs. a. Develop a set of financial ratios that will provide Blue Street Advisors with useful information in the evaluation and comparison of b. Your research also indicates that the shares of comparable REITs specializing in warehouse acquisitions in the same regions are this suggest for National shares? selling at dividend yields in the range of 8 percent. Price multiples for these REITS are about 12 current FFO. What price range does properties owned by Blue Street Advisors? c. What is the NAV for National Property Trust assuming that a blended capitalization rate of 10 percent would be applicable for the Complete this question by entering your answers in the tabs below. P OID V Required C the properties owned by Blue Street Advisors? (Round your answer to 2 decimal places.) What is the NAV for National Property Trust assuming that a blended capitalization rate of 10 percent would be applicable for $ 53,400,000 4,400,000 890,000,000 469,000,000 421,000,000 $ 478,800,000 per share $ 167,800,000 80,000,000 < Required B 247,800,000 231,000,000 $ 478,800,000. 81 Required C > H X Saved Prev N 1 of 7 Adrian V X Next > W 7z/nail-To X → C 1 5 points Lu X Homework: REITs and RE Investment Performance Assignment eBook Appraisal ✰ ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A Print References Me Problem 21-1 TOSHIBA You have been presented with the following set of financial statements for National Property Trust, a REIT that is about to make an initial stock offering to the public. This REIT specializes in the acquisition and management of warehouses. Your firm, Blue Street asked to prepare a financial analysis of the REIT. Advisors, is an investment management company that is considering the purchase of National Property Trust shares. You have been National Property Trust Panel A. Operating Statement Summary Net revenue Less: annotate XL Homewo X M Question X M Sign In X Interest expense* Net income (loss) *At 8% interest only. Operating expenses Depreciation and amortization General and administrative expenses Management expense Income from operations Less: vo. DID VOID OID VO Panel B. Balance Sheet Summary Assets Cash Rents receivable Properties @ cost Less: Accumulated depreciation Properties-net Total net assets Short term Mortgage debt* Total Shareholder equityt Type here to search Liabilities Total liabilities and equity "At 8% interest only. 110,000,000 shares outstanding. VOILL $ 119,000,000 Al 47,600,000 41,000,000 7,900,000 4,900,000 17,600,000 6,400,000 $ 11, 200,000 $ 53,400,000 4,400,000 890,000,000 469,000,000 421,000,000 $ 478,800,000 Required: National Property Trust with other REITS. a. Develop a set of financial ratios that will provide Blue Street Advisors with useful information in the evaluation and d comparison of b. Your research also indicates that the shares of comparable REITS specializing in warehouse acquisitions in the same regions are selling at dividend yields in the range of 8 percent. Price multiples for these REITS are about 12 current FFO. What price range does Prev 1 of 7 $ 167,800,000 80,000,000 247,800,000 231,000,000 $ 478,800,000 Saved N Adrian V Next > W 72

Fig: 1

Fig: 2