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房地产行业 — 财报质量筛查

共162只房地产股票经过18项财报排雷检查筛查

评级分布

F: 158
A1 — 优秀 — 几乎无异常
B1 — 良好 — 总体健康
C2 — 一般 — 存在部分异常
D0 — 较差 — 存在显著隐忧
F158 — 不及格 — 存在重大风险

房地产行业的财报质量特征

房地产公司——REITs、开发商和物业管理公司——使用FFO（运营资金）和NAV等与GAAP利润显著不同的专业指标。当物业价值在升值时，房地产资产的折旧在经济上往往没有意义，但它仍然导致GAAP报告亏损。开发项目的利息资本化推迟了融资成本，而物业组合的减值时点涉及大量管理层判断。我们的筛查框架识别REIT的现金分配是否由经营现金流可持续覆盖，以及资产负债表杠杆是否透明。

房地产行业常见异常信号

  • ⚠AFFO调整激进地排除经常性资本维护成本，高估可分配现金流
  • ⚠投机性开发项目的利息资本化掩盖了真实的杠杆成本
  • ⚠物业减值拖延至再融资事件迫使确认，导致NAV突然下降

全部162只房地产股票

A优秀 — 几乎无异常(1 只)

A
ORCOrchid Island Capital, Inc.

B良好 — 总体健康(1 只)

B
CURBCurbline Properties Corp.

C一般 — 存在部分异常(2 只)

C
CSGPCoStar Group, Inc.
C
IVRINVESCO MORTGAGE CAPITAL INC

F不及格 — 存在重大风险(158 只)

F
AATAmerican Assets Trust, Inc.
F
ABRArbor Realty Trust
F
ACRACRES Commercial Realty Corp.
F
ACREAres Commercial Real Estate Cor
F
ADAMAdamas Trust, Inc.
F
AHRAmerican Healthcare REIT, Inc.
F
AHRTAH Realty Trust, Inc.
F
AKRAcadia Realty Trust
F
ALXAlexander's, Inc.
F
AMTAmerican Tower Corporation (REI
F
AOMRAngel Oak Mortgage REIT, Inc.
F
APLEApple Hospitality REIT, Inc.
F
AREAlexandria Real Estate Equities
F
ARIApollo Commercial Real Estate F
F
ARLAmerican Realty Investors, Inc.
F
ARRARMOUR Residential REIT, Inc.
F
AVBAvalonBay Communities, Inc.
F
BDNBrandywine Realty Trust
F
BFSSaul Centers, Inc.
F
BHRBraemar Hotels & Resorts Inc.
F
BNLBroadstone Net Lease, Inc.
F
BRSPBrightSpire Capital, Inc.
F
BRTBRT Apartments Corp. (MD)
F
BXMTBlackstone Mortgage Trust, Inc.
F
BXPBXP, Inc.
F
CBLCBL & Associates Properties, In
F
CBRECBRE Group Inc
F
CCICrown Castle Inc.
F
CCSCentury Communities, Inc.
F
CDPCOPT Defense Properties
F
CHCTCommunity Healthcare Trust Inco
F
CIMChimera Investment Corporation
F
CLDTChatham Lodging Trust (REIT)
F
CLPRClipper Realty Inc.
F
CMTGClaros Mortgage Trust, Inc.
F
COMPCompass, Inc.
F
CPTCamden Property Trust
F
CSRD/B/A Centerspace
F
CTOCTO Realty Growth, Inc.
F
CTRECareTrust REIT, Inc.
F
CWKCushman & Wakefield Ltd.
F
DEAEasterly Government Properties,
F
DEIDouglas Emmett, Inc.
F
DHCDiversified Healthcare Trust
F
DLRDigital Realty Trust, Inc.
F
DOCHealthpeak Properties, Inc.
F
DOUGDouglas Elliman Inc.
F
DRHDiamondrock Hospitality Company
F
DXDynex Capital, Inc.
F
EFCEllington Financial Inc.
F
EPRTEssential Properties Realty Tru
F
EQIXEquinix, Inc.
F
EQREquity Residential
F
ESRTEmpire State Realty Trust, Inc.
F
ESSEssex Property Trust, Inc.
F
EXPIeXp World Holdings, Inc.
F
EXRExtra Space Storage Inc
F
FBRTFranklin BSP Realty Trust, Inc.
F
FCPTFour Corners Property Trust, In
F
FORForestar Group Inc
F
FPIFarmland Partners Inc.
F
FRPHFRP Holdings, Inc.
F
FRTFederal Realty Investment Trust
F
FSPFranklin Street Properties Corp
F
FVRFrontView REIT, Inc.
F
GNLGlobal Net Lease, Inc.
F
GOODGladstone Commercial Corporatio
F
GTYGetty Realty Corporation
F
HPPHudson Pacific Properties, Inc.
F
HSTHost Hotels & Resorts, Inc.
F
IIPRInnovative Industrial Propertie
F
ILPTIndustrial Logistics Properties
F
INNSummit Hotel Properties, Inc.
F
INVHInvitation Homes Inc.
F
IRMIron Mountain Incorporated (Del
F
IRTIndependence Realty Trust, Inc.
F
IVTInvenTrust Properties Corp.
F
JBGSJBG SMITH Properties
F
JOESt. Joe Company (The)
F
KIMKimco Realty Corporation (HC)
F
KREFKKR Real Estate Finance Trust I
F
KRGKite Realty Group Trust
F
KWKennedy-Wilson Holdings Inc.
F
LADRLadder Capital Corp
F
LANDGladstone Land Corporation
F
LFTLument Finance Trust, Inc.
F
LTCLTC Properties, Inc.
F
LXPLXP Industrial Trust
F
MAAMid-America Apartment Communiti
F
MACMacerich Company (The)
F
MDVModiv Industrial, Inc.
F
MFAMFA Financial, Inc.
F
MITTTPG Mortgage Investment Trust,
F
MLPMaui Land & Pineapple Company,
F
MMIMarcus & Millichap, Inc.
F
NHINational Health Investors, Inc.
F
NLOPNet Lease Office Properties
F
NMRKNewmark Group, Inc.
F
NREFNexPoint Real Estate Finance, I
F
NTSTNetSTREIT Corp.
F
NXDTNexPoint Diversified Real Estat
F
NXRTNexPoint Residential Trust, Inc
F
ORealty Income Corporation
F
OLPOne Liberty Properties, Inc.
F
OUTOUTFRONT Media Inc.
F
PDMPiedmont Realty Trust, Inc.
F
PEBPebblebrook Hotel Trust
F
PECOPhillips Edison & Company, Inc.
F
PINEAlpine Income Property Trust, I
F
PKSTPeakstone Realty Trust
F
PLDPrologis, Inc.
F
PMTPennyMac Mortgage Investment Tr
F
PSAPublic Storage
F
PSTLPostal Realty Trust, Inc.
F
RCReady Capital Corporation
F
REAXThe Real Brokerage, Inc.
F
REFIChicago Atlantic Real Estate Fi
F
REGRegency Centers Corporation
F
RHPRyman Hospitality Properties, I
F
RLJRLJ Lodging Trust
F
RMAXRE/MAX Holdings, Inc.
F
RMRThe RMR Group Inc.
F
RPTRithm Property Trust Inc.
F
RWTRedwood Trust, Inc.
F
SAFESafehold Inc. New
F
SBACSBA Communications Corporation
F
SBRASabra Health Care REIT, Inc.
F
SEGSeaport Entertainment Group Inc
F
SEVNSeven Hills Realty Trust
F
SHOSunstone Hotel Investors, Inc.
F
SILASila Realty Trust, Inc.
F
SITCSITE Centers Corp.
F
SKTTanger Inc.
F
SKYHSky Harbour Group Corporation
F
SLGSL Green Realty Corp
F
SMASmartStop Self Storage REIT, In
F
SPGSimon Property Group, Inc.
F
STRSStratus Properties Inc.
F
STRWStrawberry Fields REIT, Inc.
F
SUNSSunrise Realty Trust, Inc.
F
SVCService Properties Trust - Shar
F
TCITranscontinental Realty Investo
F
TRNOTerreno Realty Corporation
F
TRTXTPG RE Finance Trust, Inc.
F
TWOTwo Harbors Investment Corp
F
UDRUDR, Inc.
F
UEUrban Edge Properties
F
UHTUniversal Health Realty Income
F
UMHUMH Properties, Inc.
F
UNITUniti Group Inc.
F
VICIVICI Properties Inc.
F
VREVeris Residential, Inc.
F
VTRVentas, Inc.
F
WELLWelltower Inc.
F
WSRWhitestone REIT
F
WYWeyerhaeuser Company
F
XHRXenia Hotels & Resorts, Inc.
F
XRNChiron Real Estate Inc.

了解我们的方法论

每只股票经过18项基于唐朝投资框架的系统化检查，包括Beneish M-Score和Altman Z-Score量化模型。

查看完整方法论 →

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