BHR - Here's Why My REITs Beat Your REITs

There are a few things that annoy me. One of those things is seeing investors focus on the wrong metrics. Unfortunately, that happens frequently. Let's talk about the absurd reliance on FFO multiples for equity REIT investors.

Are FFO multiples useful? Yes, they are useful.

Are they the cornerstone of your analysis? You should hope not.

Many investors fall for value traps. Those value traps are particularly common among the smaller REITs. To be clear, focusing on small REITs or high-dividend REITs does not produce superior returns.

We can demonstrate that with a chart we

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