...This report addresses capital ad equacy for both publicly and privately rated equity REITs, focusing on real estate and other assets on REITs balance sheets. These criteria center on the leverageability of different property ty pes, based on historical volatility data. In addition, this methodology addresses the fact that equity REITs have increasingly complicated balance sheets that feature pr ogressively larger components of joint ventures and intricate develo pment arrangements. While cert ain financial institutions such as banks and insurance companies receiv e regulatory oversight governing how they may be capitalized, REITs have no such regulatory limitations. Nevertheless, capital adequacy is a significant component of Fitch s ratings for REITs. During the past ## years, the equity REIT ma rket has transitioned from an emerging, new phenomenon to a known, studied sector. Data and performance observation have been accumulated over time, and th e investment community,...

Report Type: Criteria Report
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 Fitch Research
Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.