How do you analyze a reit?

Former RE IB guy now on the buyside working for an owner operator. I’ll share a few thoughts. I will admit I was patient but lucky to really start buying during COVID when REITs were at massive discounts to NAV. Do wish I had more time to spend analyzing these stocks but I also have a day job.

• NAV - what do research analysts think NAV is vs share price. Did some personal calc’d NAVs from my IB days so I had a rough idea of when things were at a discount / long term outlook. 
• What is the Div Yield - one of our funds is very cash on cash driven. I’ll look at what can I get on the stock market vs. what we would buy on the private market. Unless they are super risky, 6-7% is usually a good starting point to get my interest. 
• Bank Research - some guys are well known / respected so I’ll piggy back off their ideas 
• General Product type Outlook - certain food groups like retail and office are trading down while multi and industrial are on a tear. For my retail and office bets - what does their b/s look like. Are they positioned to make buys that are accretive to NAV? Can they weather the covid storm?