Earning-Power-Value, reverse-DCF, and EV/EBITDA are hidden for this real-estate investment trust.
These frameworks capitalise GAAP operating earnings, but a REIT
runs on funds from operations (FFO/AFFO) — GAAP EBIT is depressed
by non-cash real-estate depreciation, and EV/EBITDA ignores the
mortgage debt that funds the property book. The trailing
multiples above (P/E, P/S, P/B, P/FCF) still render, but the
right lens for a REIT is P/FFO or P/AFFO and
dividend coverage — applied manually, outside this page.