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REIT Investing 101: Understanding Funds From Operations (FFO)

When it comes to REITs, "earnings" don’t tell the whole story.


[Updated: Aug 10, 2021 ] Aug 09, 2019 by Matt Frankel, CFP

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Item Amount
Net income $107.69 million
Depreciation (net) $203.05 million
Net gain on sale of real estate $0.02 million
Total FFO $310.76 million

Data source: Equity Residential. Figures may not add perfectly due to rounding.

Matt Frankel defines "Funds From Operations" on the Millionacres Podcast
 
Item Amount
FFO $310.76 million
Write-off of pursuit costs $1.45 million
Non-operating asset losses $0.23 million
Other miscellaneous items $1.58 million
Normalized FFO $314.01 million

Data source: Equity Residential. Numbers may not add perfectly due to rounding.

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