Real Estate Fund:
Research
We believe successful investing in REITs and commercial real estate-oriented companies
depends upon access to reliable data and information paired with consistent,
methodological assessment of that information. Phocas Financial's REIT and
commercial real estate-oriented company research includes both proprietary,
quantitative valuation models and in-depth qualitative analysis of individual
REITs and commercial real estate-oriented companies.
- We gather public and published data from REIT organizations and other sources.
- We believe we have the experience and knowledge necessary to choose the best data available from the numerous sources available. In particular, we rely more on research into individual companies rather than on consensus numbers.
- We talk with management teams on an ongoing basis.
| Qualitative Criteria | Quantitative Criteria |
|
Strong, creative and experienced management teams that can create value and provide a competitive edge
Flexible balance sheets
Excellent asset quality and locations
Acceptable risk profiles
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Net Asset Value (NAV) analysis
Discounted cash flow growth analysis
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We analyze each REIT and commercial real estate-oriented
company from the bottom up, looking at past performance,
current prospects and strategy for the future. We seek the
management teams and strategies that we feel have the potential to deliver
the best
risk-adjusted returns to their shareholders, while maintaining
price and value disciplines.
Learn More...
Relative Multiples Analysis is the process of comparing the values of various multiples
against those values for other stocks or companies, and also against historical values
for the same company or companies.