Isn't EBITDA useless since interest is such an immense expense for REITs and impacts how much they can pay for Divs? What is the relationship between EBITDA and NOI?
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Can't help you, just interested to know what you mean by NOI.
Google FFO my friend
Because even though REITs use NOI in their modeling, they report based on GAAP accounting which universally uses NI and EBITDA. You would need to calculate FFO. I believe its a SEC requirement and they have a standard format they must report just like the thousands of other companies that are publicly traded.
This. A lot of REITs will also release supplemental reports which include the non-GAAP metrics which are relevant to understanding their business/performance (some more standard like NOI or FFO, some more specific like lease rates or absorption).
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