代写 SSUD12-202  Property Trusts, Finance & Taxation

SSUD12-202

Property Trusts, Finance & Taxation

 

Major Assignment v1

 
Objectives:
 

1. Understand &evaluate REIT performance
2. Understand and calculate net asset value (NAV)
3. Understand the principles of portfolio theory in property investment
4. Understand the concepts of alternative finance structures
5. Understand the principles of risk assessment and volatility in listed property securities (LPT’s)

 
Assessment:Weighting 30%
 
 
Due Date:  Due week 12 at 4pm. Hand in as per guidelines for the Faculty of Society and Design. You must include a copy of a signed assignment coversheet even if submitting electronically. Only assignments submitted via TurnItIn on iLearn will be marked.
 
Format:   This assessment incorporates areport either as an individual or as a group of 2.Compile a written report with a clearly defined introduction and conclusion.  The body of the assignment must use sub-headings to address specific issues.
 
Word Range:   2000 – 3000 words for individuals
                     3000 – 4000 words for groups of 2
 
Task:  Submit a written report.

代写 SSUD12-202  Property Trusts, Finance & Taxation
 
Investigate and compile a report analysing two ASX listed A-REIT funds. You will need to access information about the funds from various sources which may include:
 
a.    The fund website
b.    Analysts reports from brokers or banks
c.    Annual reports and financial information of the fund
d.    Product Disclosure Statements (PDS)
e.    ASX announcements for the fund
f.      Reports from research houses
 
1.    Choose two REIT’s to Investigate and compile a report analysing the trusts against the A-REIT ASX 200 (or 300) index. The components of this index can be found at the following website: http://www.investing.com/indices/s-p-asx200-a-reit-components 
 
2.    Your choosen REIT’s may be either closely related competitors or in different property sectors. ONLY ONE ASSIGNMENT MAY USE ANY ONE PAIRING OF REITS. First in best dressed and I will update the REIT’s chosen on iLearn. Graph the share/unit price of your chosen funds against the A-REIT ASX200 index and the ASX 200 index in Excel for a period of 5 financial years through to June 30^th, 2015. I will provide a data file with the daily share price movements of the A-REITS that are permitted to be chosen for the assignment as well as the A-REIT 200 index.
 
3.    Review the assets within the portfolio of your chosen A-REIT’s and comment on in relation to:
 
a.    Trust structure and composition
b.    Characteristic and type of real estate assets held
c.    Geographic distribution
d.    Number of assets held and value of fund
e.    Diversification
 
4.    Determine the financial performance of your chosen REIT’s:
 
a.    Net tangible assets over the analysis period
b.    Discount/premium to NTA/ per unit over analysis period
 
5.    Calculate the Holding Period Return(HPR) of an investor investing $100,000 over a 1, 3, and 5 yr time frames (to 30^th June 2015) including share/unit price and distributions.This is from the perspective of a unit holder.
 
6.    Give a market commentary on the key economic indicators that will influence the commercial property market in Australia over the next few years as well as thespecific property types of your chosen REIT’s. (Ie Commercial, Retail or Industrial)
 
7.    Analyse and comment on the financial performance of your chosen REIT’s over the last 3 years.
 
a.    Annual profit
b.    Return on equity
c.    Average gearing Level
d.    Market capitalisation
e.    WALE
f.      Interest cover
g.    Any other measure you believe to be important
 
8.    Comment on theforward outlook for the REIT sector and whether your chosen REIT’s and/or the Listed Property Market (A-REIT) index present a good opportunity to buy. (Comment on value)
9.    Give an assessment and comparison of your two chosen REIT’s and which (if any) would make a better investment.
 
10. Outline any key risks you see to investing in your chosen REIT’s and investing in the AREIT’s as an asset class.
 
 
 
 
Late submissions - the following adjustments will be made to the maximum marks available:
 
·         Up to 1 days late = minus 10% (maximum 90%)
·         Up to 2 days late = minus 20% (maximum 80%)
·         Up to 3 days late = minus 30% (maximum 70%)
·         Up to 4 -5 days late = minus 50% (maximum 50%)
·         After 5 days then no marks will be awarded
 
Marks
 
The grading system follows the University standard:
 
•     pass grades :   HD  high distinction (85% and over);
 
                     D    distinction (75% to 84%);
 
                     C     credit  (65% to 74%);
 
                     P     pass (50% to 64%).
 
•     fail grade :              N    49% and below.


代写 SSUD12-202  Property Trusts, Finance & Taxation