REIT Market Analysis offers Green Street’s data, built from 20+ years of proprietary analysis. The time series data includes key valuation metrics such as implied cap rates, adjusted funds from operations (AFFO) yield on REITs, NAV premiums, unleveraged asset value premiums, net operating income (NOI) growth, occupancy, REIT value per unit and implied value per unit. This powerful tool helps investors assess the fair value of REITs vs. other benchmarks and determine the relative attractiveness of sectors.

Green Street’s mall database provides an interactive collection of information and insights for over 1,300 regional malls and other retail properties across the U.S. The database offers Green Street’s proprietary data on cap rates and quality grades per mall using a multivariate grading framework capturing: productivity (sales per square foot), merchandise mix (inline tenant quality and anchor quality), competitive location (demographic and macroeconomic factors), and curb appeal. New Trade Area Power ("TAP") scores measure trade area strength with one metric that can be compared across properties and markets. The database can be used to generate customized reports by owner, metropolitan area, or retail property type, provide property snapshots; and create tailored maps.
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The Net Asset Value (NAV) modeling tool provides an in-depth look at the components of our NAV estimate for each REIT—the first building block in Green Street’s core valuation model. Investors can incorporate their own assumptions and test sensitivity to the assumptions employed by our analysts.

Property Market Valuation offers Green Street’s proprietary valuation estimates for 13 different property sectors, drawing on 20+ years of Green Street insights. This tool uses interactive, downloadable graphs and data for analyzing the real estate value in the private and public markets. It provides investors with a meaningful understanding of cap rates, return expectations and spreads across property sectors.

Green Street’s Strip Center Database provides detailed and proprietary data and analysis for over 2,100 REIT-owned strip center properties across the U.S. The database offers key metrics for determining strip center quality such as average base rent, surrounding demographics, and occupancy. New Trade Area Power ("TAP") scores measure trade area strength with one metric that can be compared across properties and markets. It includes extensive tenant lists and proprietary cap rates by market. Database users can generate custom reports by REIT owner, market, tenant, and strip center property type, download up-to-date competitive profiles; and map property locations for assessing a property’s quality and outlook.
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Company Comparisons offers a variety of side-by-side and graphical comparisons of key valuation metrics, including cap rates, implied cap rate spreads, and observed premiums/discounts to gross asset value. Investors can customize the tool to help uncover investment opportunities by revealing meaningful pricing discrepancies across companies.

Green Street’s Commercial Property Price Index is a monthly time series of unleveraged U.S. commercial property values that captures the prices at which commercial real estate transactions are currently being negotiated and contracted. Features that differentiate this index are its timeliness, its emphasis on high-quality properties, and its ability to capture changes in the aggregate value of the commercial property sector.

Live corporate governance scores based on 10 key variables from our Corporate Governance Model, including board make-up, anti-takeover devices, potential conflicts of interest, and past actions. Charts compare results to those of sector and industry peers. We also provide compensation data and analysis for each company in our coverage universe, with graphs comparing results to sector peers and industry averages. These charts assess the appropriateness of pay packages, given adjustments for size and returns.

The REITrader is designed to spot pricing anomalies that sometimes arise in markets. Based on the premise that the pricing of companies owning similar property portfolios should be tightly linked, it generates a signal when those linkages break down. A "cheap" / "expensive" REIT is one where the current implied cap rate, relative to that of its peers, is unusually high/low relative to historic norms.

Green Street's Earnings Season Surprise Indices seek to provide near-instant transmission of the news conveyed in quarterly earnings. Numerical scores ranging from -10 to +10 are assigned to each REIT the day earnings are reported on each of three indices.

• Company Surprise Index – Assesses likely impact on warranted share value emanating from news conveyed in the press release/call.
• Sector Surprise Index – Assesses likely impact on levered property values across sector based on news conveyed in a given earnings report.
• Earnings Surprise Index – Assesses magnitude of earnings misses/beats vs. consensus and guidance changes.

Certain traits have long been associated with outperformance by REITs. Our Factor Tracker affords the ability to measure the relationship between 15 different factors and subsequent total returns. Reverse momentum, low cap rates, low leverage, small size, and low dividend yield are factors that have been strongly associated with excess returns.

The new REIT Portfolio Search tool allows users to easily explore and analyze REIT portfolios through Atlas, an interactive mapping and analytics platform. Access proprietary REIT portfolio grades, cap rates, square footage for more than 15,000 REIT-owned property locations across seven sectors.

The Net Asset Value (NAV) modelling tool provides an in-depth look at the components of our NAV estimate for each REIT—the first building block in Green Street’s core valuation model. Clients can incorporate their own assumptions and test sensitivity to the assumptions employed by our analysts.

Company Comparisons offers a variety of side-by-side and graphical comparisons of key valuation metrics, including Net Initial Yields, Implied Net Initial Yields, and observed premiums/discounts to gross asset value. Investors can customise the tool to help uncover investment opportunities by revealing meaningful pricing discrepancies across companies.

This tool uses interactive, downloadable graphs and data for analyzing Pan-European real estate. It provides clients with historical data and benchmarks to understand valuations, the relative attractiveness of the listed and direct markets, and other pricing indicators.

Green Street’s Pan-European Shopping Centre database covers over 500 retail properties with an estimated spot value well above €100bn across 16 countries. The database offers proprietary valuation measures and quality grades, custom reporting and property mapping.

The REITrader is designed to spot pricing anomalies that sometimes arise in markets. Based on the premise that the pricing of companies owning similar property portfolios should be tightly linked, it generates a signal when those linkages break down. A "cheap" / "expensive" REIT is one where the current implied cap rate, relative to that of its peers, is unusually high/low relative to historic norms.

Green Street's Earnings Season Surprise Indices seek to provide near-instant transmission of the news conveyed in quarterly earnings. Numerical scores ranging from -10 to +10 are assigned to each REIT the day earnings are reported on each of three indices.

• Company Surprise Index – Assesses likely impact on warranted share value emanating from news conveyed in the press release/call.
• Sector Surprise Index – Assesses likely impact on levered property values across sector based on news conveyed in a given earnings report.
• Earnings Surprise Index – Assesses magnitude of earnings misses/beats vs. consensus and guidance changes.

Our take-out odds are designed to address the chance, based on prevailing share values, that a given company in our coverage universe will be acquired or will be a target of activism over the course of the next eighteen months.