The Retail REITs industry consists of companies that invest in retail properties and rent the space in those properties to retail tenants looking to set up shopping malls, restaurants, entertainment centers, boutiques, grocery-anchored shopping centers that feature big-box retailers, among others. Below is current consensus forecast data on revenue drivers, such as total square feet, portfolio occupancy rate, acquisition and disposition total volume; and financial metrics, such as total rent revenue and net operating income. These key retail REITs metrics aid market participants in identifying retail REITs trends and future performance of companies, including Realty Income Corp, Regency Centers Corporations, CT REIT and more. View All Retail REITs Resources >
What are the most important retail REITs KPIs?
Key performance indicators (KPIs) are the most important business metrics for a particular industry and are where investors should look to find an investment edge. When understanding market expectations for retail REITs, whether at a company or industry level, here are some of the retail REITs KPIs to consider:
- Total Square Feet
- Portfolio Occupancy Rate
- Acquisition Total Volume
- Disposition Total Volume
- Total Rent Revenue
- Net Operating Income
- Funds From Operations per Share
- Dividend per Share
What questions do these key retail REITs metrics answer?
Here are some questions you can answer with Visible Alpha’s restaurant forecast data:
- Which retail REITs have the biggest portfolio?
- Which retail REITs have the highest occupancy levels?
- Which retail REITs have the highest acquisition activity?
- Which retail REITs have the highest disposition activity?
- Which retail REITs have the highest rental revenue?
- Which retail REITs have the highest funds from operations per share?
How can this data be used?
By opening up forecast data on key retail REITs KPIs, Visible Alpha is enabling institutional investors, retail investors, business reporters, students and more to quantify and compare market expectations for companies across the retail REITs industry.
How do I attribute Visible Alpha?
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This guide highlights the key performance indicators for the retail industry and where investors should look to find an investment edge, including:
- Retail Industry Business Model & Diagram
- Key Retail Metrics PLUS Visible Alpha’s Standardized Industry Metrics
- Available Comp Tables
- Industry KPI Terms & Definitions
Portfolio Occupancy Rate
Portfolio occupancy rate measures the occupancy rate or the percentage area of a REIT’s property that has been leased. It is calculated as leased space divided by total leasable area. Portfolio occupancy rate is a measure of success that a REIT has had in attracting tenants and leasing the space it owns. The higher the occupancy rate for a REIT over time (compared to its peers), the better.
Same-store Net Operating Income (NIO) Growth (%)
Same-store net operating income (NIO) growth is a key measure of profitability for a retail REIT. It is growth that excludes certain non-cash and non-comparable items. Same-store NOI is calculated as same-store revenues minus same-store operating expenses, including property taxes.
Acquisition rate refers to the yield that is generated from an acquired property
Acquisition volume refers to the additions to a retail REIT’s portfolio of investment properties. This may take the form of transactions in real estate.
Development rate refers to yield that is generated from a property in development.
Development volume is a measure of a new construction or previously agreed upon re-developments.
Disposition rate refers to yield that is generated from a disposed property.
Disposition volume refers to the sale of real estate holdings by retail REITs.
Capitalization Rate (%)
Capitalization rate, or cap rate, is the initial yield on a real estate investment. Cap rate is computed by dividing the cash flow in year 1 by either the acquisition/disposition price or the total expected development cost.
Total Square Feet (K)
Total square feet (K) is the total amount of floor space available for rent to retail tenants.
Square Feet of Expiring Lease (K)
Square feet to expiring lease (K) is the number of square feet of lease which is expiring in a period.
Expiring Rent Per Square Feet
Expiring rent per square foot is the rent per square foot at the time of expiration of the lease.
New Rent Per Square Feet
New rent per square foot is the rent per square foot at the time of the new lease.
Total Potential Roll-Up/Down Per Square Feet
Total potential roll-up/down per square feet is the difference between rent per square foot at the time of a new lease vs an expiring lease.
Average Lease Term (Years)
Average lease term (years) measures the average period during which all leases in a retail REIT’s property or portfolio will expire.
Average Cost of Debt (%)
Average cost of debt (%) is a measure of the average interest rate paid to fund a retail business. It is calculated as interest expense paid divided by average debt (secured and unsecured loans and revolving credit facilities)
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