REIT-TIREMENT - REITs Investing & Personal Finance

A blog about REITs investment & personal finance

Friday, February 01, 2019

How to Create Your Own Basic REITs Screener

Updated: 24 March 2019
The yahoo finance formula somehow does not work on previous copy, so I have created a new copy and updated with latest data, link here. Make a copy to customized your own screener and avoid any "loading" or "N/A" problem.

Before I start, I would like to share that there are already a few useful websites for REITs screening purpose. Please refer below links:
The Fifth Person
My Stocks Investing Journey
PropertyInvestSG
YieldSavvy
REITScreener

In this case, you may ask why still bother to make our own REIT Screener? To me, first reason would be information verification and second would be customization. Why information verification? Nobody would guarantee on total accuracy and completeness of their data. You could find in all websites above, they have disclaimer stated that there are no warranties to accuracy & completeness on information provided. I could not find disclaimer in REIT Screener website though, I may also have missed out their terms and conditions, if you find it please help to share it.
This blog has disclaimer too, don't scold me please
So now, back to the topic, how do we start ? I have created a basic template which include real estate business trust as well. Note that business trust is not required to distribute 90% of taxable income to shareholders. Refer link here:
I've found one annoying problem for google sheet import function, in which it sometime show #N/A or loading... for a long time. This happened when:
- More than 1 user access a shared google sheet at same time
- Access multiple google sheet with import function at the same time
- Refresh too often in short time.
So, to avoid these issue, make a copy of this template and keep to your own use. A quick solution to #N/A is delete the formula then undo it, work "most" of the time.
If you find any solution to import function, please share
Back to the template, Market Price, Market Cap 52 Weeks High Low are direct imported from Yahoo Finance. Day changes are calculated from previous close, I hide this column as I find it not useful to display. For Price/NAV and Dividend Yield, some REITs data from Yahoo Finance are less accurate, so I've decided to create columns which use formula to calculate from manual entry data.

What you have to do to complete it is to key in data in 3 green columns, which I have done it for this time round. For gearing and NAV per unit, you could get it from latest quarter financial report from each REITs website. As for past 12 months DPU, you would have to look for past 4 quarters financial report and total up yourself. Own research take times, but it is how you ensure accuracy of data and also learning at the same time.
Do your own due diligence for your investment 
Feel free to modify the template to suit your need, you can add more columns for other data like occupancy, interest cover ratio, debt maturity etc. Here is link for example from Financial Horse blog. Note that all REITs (besides Fortune REIT) publish their result quarterly, so do update promptly to have latest information. Once you completed the above data collection, say kudos to your hardwork, now you have your very own version of REITs screener. You could then shortlist REITs from it and do in-depth analysis.

Before I end, let me share one website - SGinvestors.io which consolidate brokerages recommended target price for SREITs. Different brokerages have different target price, you could read their analysis for reference, but do not buy solely based on their recommendation. If even analysts couldn't come in common conclusion for a same REIT, how could we blindly follow anyone of their call ?Leave a comment or contact me if you need any help or would like to share your ideas.

11 comments:

  1. Thank you for your hard work.

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  2. Hi thanks for the great effort!

    I'm unsure what I'm doing incorrectly. But when I download the data in excel format, and click "enable editing", the "price" column will automatically changed to 1.4 for all shares. I believe it's to do with the direct import from Yahoo Finance function, but I have no idea how to change it.

    Pls advise is there a way to rectify this?

    ReplyDelete
    Replies
    1. The import function won't work in excel, it can will only work with online google sheet. Why don't you click file->make a copy to save it to your google drive ? So you could access it easily, can do it with your smartphone too.

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    2. Welcome. Thanks for your support too

      Delete
  3. Hi Vince,

    I attended probutterfly’s (Tam Ging Wien) "The Essential REITs Toolkit Webinar" and was introduced to their reitscreener. In the session, he kept emphasizing it is free.

    True to a certain extend that it is free sign up and some basic info available but when I click on the “Price to Book Ratio” that he kept referring to in the session and “TTM dividend yield”, it brought me to the premium US$99 sign up page. I thought fair enough to pay for his efforts and after sign-up, it tried to up-sell me another US$199 add on that I wasn’t introduced to before. I thought a common upselling tactic.

    When I try to click on “Price to Book Ratio” and “TTM dividend yield” again, it prompted now that I need to buy the $199 add-on! This type of upselling tactic is no different to scamming people by withholding information on the actual costs. How do one know that there won’t be another package that we need to sign up again....

    Sharing here so no one else will get scammed by reitscreener.com

    I thought he has a good reputation in stock analysis, wonder why he has to resort to such tactics. :(​​​

    ReplyDelete
    Replies
    1. Sharing here so no-one else get scammed by reitscreener.com and Probutterfly. It is better to do our own research which u shared above.

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    2. My blog has not much reader seriously, so I don't think ur message can pass far.

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  4. Besides probutterfly, there are many others doing the same thing. Always started from free preview of small fee. If you do not have time, or not willing to do ur own analysis, then can consider for sign up. Else a lot of information are available online.

    ReplyDelete