1. Big Dawg REIT, a national office REIT, reported GAAP net income of $88,706,000 in 2023....

 

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1. Big Dawg REIT, a national office REIT, reported GAAP net income of $88,706,000 in 2023. It also reported the following items: Real estate depreciation $123.546,000 Gains on Sales of $4,250,000 Tenant Improvements of $3,100,100 Leasing Commissions of $6,300,000 Shares Outstanding of 12,500,000 OP units Outstanding of 3,000,000 Based on the above, show your calculations for the below: a). What was the REIT'S FFO for 2023? b) What was the REIT's FFO per share in 2023? c) Given that the REIT reported a net straight-line rent adjustment loss of $4,619,000 and capital expenditures of $17,500,000, what was the REIT'S AFFO in 2023? d) Given the above in c, what was the REIT'S AFFO per share in 2023? c) Given that the REIT paid out $143,826,000 in common stock dividends in 2021, what was its dividend/FFO ratio in that year? (1 point) d d). After all distributions, what percentage of the REIT'S AFFO was left over (for what the industry calls "plowing back into the business)? (1 point) F. e) By what percentage did Big Dawg REIT exceed its payout requirement? f) What was Big Dawg REIT's FFO payout ratio for 2023? g) What was Big Dawg REIT'S AFFO payout ratio for 2023? 2. An equity REIT with 400,000 shares outstanding owns property with a historic depreciable cost of $23,400,000. It depreciates its property on a 39-year straight-line basis. The company has $3,000,000 in annual gross income, and $1,100,000 in annual operating and general and administrative expenses. Show your calculations: a) The company's taxable income per share, assuming no dividend payout, is $ 2. An equity REIT with 400,000 shares outstanding owns property with a historic depreciable cost of $23,400,000. It depreciates its property on a 39-year straight-line basis. The company has $3,000,000 in annual gross income, and $1,100,000 in annual operating and general and administrative expenses. Show your calculations: a) The company's taxable income per share, assuming no dividend payout, is $ b) In order to maintain its REIT status, the minimum dividend the company must pay out is _ per share. $ c) The company's FFO per share is $ d) Assuming recurring capital expenses to maintain the REIT's properties are $500,000 per annum, the AFFO per share is $ 1. Big Dawg REIT, a national office REIT, reported GAAP net income of $88,706,000 in 2023. It also reported the following items: Real estate depreciation $123.546,000 Gains on Sales of $4,250,000 Tenant Improvements of $3,100,100 Leasing Commissions of $6,300,000 Shares Outstanding of 12,500,000 OP units Outstanding of 3,000,000 Based on the above, show your calculations for the below: a). What was the REIT'S FFO for 2023? b) What was the REIT's FFO per share in 2023? c) Given that the REIT reported a net straight-line rent adjustment loss of $4,619,000 and capital expenditures of $17,500,000, what was the REIT'S AFFO in 2023? d) Given the above in c, what was the REIT'S AFFO per share in 2023? c) Given that the REIT paid out $143,826,000 in common stock dividends in 2021, what was its dividend/FFO ratio in that year? (1 point) d d). After all distributions, what percentage of the REIT'S AFFO was left over (for what the industry calls "plowing back into the business)? (1 point) F. e) By what percentage did Big Dawg REIT exceed its payout requirement? f) What was Big Dawg REIT's FFO payout ratio for 2023? g) What was Big Dawg REIT'S AFFO payout ratio for 2023? 2. An equity REIT with 400,000 shares outstanding owns property with a historic depreciable cost of $23,400,000. It depreciates its property on a 39-year straight-line basis. The company has $3,000,000 in annual gross income, and $1,100,000 in annual operating and general and administrative expenses. Show your calculations: a) The company's taxable income per share, assuming no dividend payout, is $ 2. An equity REIT with 400,000 shares outstanding owns property with a historic depreciable cost of $23,400,000. It depreciates its property on a 39-year straight-line basis. The company has $3,000,000 in annual gross income, and $1,100,000 in annual operating and general and administrative expenses. Show your calculations: a) The company's taxable income per share, assuming no dividend payout, is $ b) In order to maintain its REIT status, the minimum dividend the company must pay out is _ per share. $ c) The company's FFO per share is $ d) Assuming recurring capital expenses to maintain the REIT's properties are $500,000 per annum, the AFFO per share is $