https://www.investopedia.com/terms/f/fundsfromoperation.asp would recommend that site for other explanations they are pretty good at explaining stuff

I don't know what this means, I'm sorry 😞

Non GAAP accounting version of p/e multiple basically.

20 or less is typical for most REITs since *most* don't don't too ahead of themselves.

You are correct, and it showed me why PLYM was so great.  Up so much.

AFFO is even better since depreciation isn't a bad thing for owning property.

https://alreits.com see the score/ranking system to have an idea, know what each REIT invest, keep track of results, compare etc.

Read books: The Intelligent REIT Investor, Educated REIT Investing.

I will try to make a very simple guide for you (the basics), because it can be very complex if you want it to be (modelling 20 years cash flows, risk analysis, etc.)

  
1) I use this site for information about REITs:  [alreits | REIT Screener](https://alreits.com/screener) 

2) For diversification purposes I try to have around 10-20 REITs in my portfolio (for risk reduction), with some different sectors (for example: data center, offices, residential, etc.)

3) For each sector, I will try to choose the best REIT in that specific sector. For that, you can do analysis of some indicators you think are important. For example: 

\- Price / FFO: Funds from operations (FFO) its used approximately as cash flow. When you compare the price you pay versus the FFO per share, you have a idea of the potential yield this investment can offer you. 

\- How many properties and the occupancy this REIT have? Its safer to invest in larger REITs, with more assets, because you have less dependency of some 

I want to invest in real estate. I feel like I can wrap my head around looking for a deal locally on a property, saving 20%, trying to work out my cash flow and estimate equity that I can gain, etc. I understand this is an big oversimplification and there is still tremendous risk involved. However, I see other information all the time that REITs can actually out perform owning real estate by 4-5% each year. Yet when it comes to REITs I really struggle knowing which one to pick and how to feel comfortable. It's not like an index fund or target date fund I can ultimately trust to do the right thing. How have you all gone about your investments? Thank you very much for taking the time to read and respond if so, I truly appreciate it.

- a noob

How do you analyze REITs?