NO.PZ2018111302000032
问题如下：
The value per share of REIT A using property subsector average P/AFFO multiple method is closest to:
选项：
A.$49.53.
B.$61.42.
C.$78.24.
解释：
B is correct.
考点：REITs估值方法
解析：AFFO = FFO - Non cash rent - Recurring maintenance-type capital expenditures and leasing commissions = $396,400 – $56,782 - $78,600 = $261,018
AFFO/share = $261,018/73,500 = $3.55
Value per share = AFFO per share * P to AFFO multiple = $3.55 * 17.3x = $61.42
前面有道题公式是 FFO = AFFO + Non-cash (straight-line) rent + Recurring maintenance–type capital expenditures and leasing commissions ”'
那这里AFFO 应该等于 FFO-Non-cash (straight-line) rent + Recurring maintenance “ + ”TYPE capital expenditures and leasing commissions
但这里公式中又是 “—” type cap exp
