This year’s FORE Competition will focus on selecting one (1) publicly traded REIT and improving their profitability and stature in the public eye. Your group will act as the new Chief Executive Officer (CEO) of a public REIT that you chose. Your assignment is to study that REIT and suggest ways in which you can improve your company and its shareholder value, profitability and image.

Some suggestions as to ways to possibly improve the REIT might be:

• Become more focused on sustainability

• Improve the mix of their Board of Directors

• How to increase EBITDA/NOI+FFO 

• Reduce costs of operations

• Improving how properties are managed

• Improving vendor relations and costs

• Streamline acquisitions and/or dispositions policies

• DEI and/or other commitment to public service

• Reducing, streamlining and improving current debt load/terms  

• Improving image with employees and/or brokerage community

• Changing their investment strategies

• Implementing a better and more streamlined acquisitions policy

• Determine how your REIT could capitalize on or overcome new legislation that might improve their performance

We know that you won’t know everything about REITs and the issues they face so we’ve brought in several industry advisors to support you.  

What The Winning Case Competitor’s Presentations Will Have…

Winning case competitions will have the following elements:

• • Specific citations as to problems that exist in the REIT you have chosen with concrete solutions to those problems. In short, identify real challenges (and where you found out about these challenges) that the REIT is having and subsequently identify and develop a plan for specific ways  to solve those  problems.

  • While you can (and should) provide a brief overview of the REIT you have chosen, it's strengths/accomplishments/stock performance, the focus of your presentation should be on solving problems that the REIT currently faces. 

Example of Problem Facing A CEO Of A REIT: An article has come out about ABC REIT that claims it is not focused on buying sustainable properties but only interested in profitability. Investors have been staying away from buying this REIT stock because sustainability is important to many of them. Public perception of ABC REIT is sliding.

Solution: The CEO appoints a Director Of Sustainability to improve the image of ABC REIT in this area. Web site changes are made to convey to investors and analysts that ABC REIT is committed to purchasing sustainable properties and/or using sustainable materials in the construction/renovation of their properties. A public relations campaign is launched to improve the image of the REIT in this area by highlighting a recent acquisition  that is a sustainable investment.

Additional Elements Of An Award Winning Presentation

An award winning presentation that will win a top prize in this year’s FORE competition will include (in addition to the elements noted above):

• Eye catching written presentation

• Specific solutions to the problems presented

• Excellent verbal presentation by your team (good eye contact and command of presentation)

• Strong answers to any questions presented to your group by judges

Sources For An Award Winning Presentation 

Possible sources/documents to review:

• Review 10K, 10Qs (EDGAR/SEC.gov) and Annual Report of your chosen REIT

• Finviz.com 

• Articles about your REIT 

• Web site of your REIT

• NAREIT articles and website (reit.com) 

• Commercial brokerage house reports 

• Any other market data that you can find and obtain through interviews and/or other investigations

A panel of judges will review each of your digital submissions, and five (5) finalists will be selected.  The judges will hear each finalist's presentation on Tuesday, November 19th, and reconvene to select a winner based on the combined digital submission and presentation scores.  There are a total of 50 points that will be awarded for your digital submissions. The finalists will be determined by the highest score. The Weiser Center for Real Estate will provide a selection of the judge's feedback to all participants after the case competition is completed. 

1. Identifying your chosen REIT, its niche in the market and their strengths (up to 10 points)

2. Clearly identifying challenges/problems/opportunities the REIT has (up to 10 points)

3. Citations/sources for the above topics/issues (up to 10 points)

4. Specific solutions to dealing with their problems/challenges/opportunities (up to 10 points)

5. Action plan, implementation and feasibility of your solutions (up to 10 points)