REIT Valuation Model Excel — FFO/AFFO Based Valuation, Not P/E

Value REITs correctly using FFO and AFFO (Funds/Adjusted Funds From Operations), the industry-standard metrics — not P/E, which is distorted by depreciation. Calculates Price/FFO, Price/AFFO multiples, AFFO payout ratio, dividend yield, and cross-checks against a Net Asset Value (NAV) approach.