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REITs and the Fallacy of FFO

NAREIT communicates about FFO, but you can also found REIT's Net Asset Value from independant research companies.
In France, all REITs communicates NAV (= Actif Net Réévalué) and Free Cash Flow (which is near FFO).
NAV, FFO, Loan To Value, and 10 years bund / dividend spread are valuable tools to give an idea about an REIT. FFO alone is a nosense.