Private Real Estate Investment Trust (REIT) Analyst. I have been a private REIT & Real Estate Operating Company (REOC) analyst since 1977. I have been trading real estate stocks since 1978 for my own account. My trading philosophy is very simple but disciplined. Its roots are based on each company's NAV, but relies on deep accounting analysis. My philosophy is that over time all companies will trade to their NAV. I mostly trade common stocks in REIT's and REOC's. In 1982 I had a short career as a real estate stock analyst at a boutique stock brokerage firm. I follow about 40 different publicly traded company's from a library of about 300 different REITand REOC files.