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Realty Income Corporation

Associate Director of Research

Salary
Competitive
Employment
Full Time
Real Estate Field
  • Asset / Portfolio Management
Location
San Diego
Region
CA
Postal Code
92130
Country
United States

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Description


Realty Income Corporation, The Monthly Dividend Company®, is one of San Diego’s four S&P 500 companies. Realty Income is looking for an individual who enjoys working with a team that values integrity, dedication, and professionalism. If working in a highly professional environment that rewards employees and values the balance between work and life resonates with you, please apply today.

We have an opening for an experienced Associate Director of Research who will provide management with information for Retail, Industrial and Other Real Estate asset classes that will be used in the acquisitions and portfolio management decision-making process. This role plays a key role in the future success of the Company by providing proactive research and well thought-out and substantiated conclusions in support of investment decisions.

Specifically, the Associate Director of Research will be responsible for:

Assist / Prepare financial review (Research Report) of prospective tenants.

  • The Research Report provides senior management with a report that outlines the financial condition of the prospective tenant which is used by the Investment Committee to review the subject opportunity and determine whether to proceed at a determined lease rate. In this report, the focus is in several areas, specifically:
    • Company Overview;
    • Corporate financial condition on a historical and present basis;
    • Store level P&Ls, if available at this juncture, are analyzed;
    • Pro forma projections are performed, specifically on a sensitivity basis, to assess cash flow, liquidity and debt service coverage changes;
    • Analyst Reports are reviewed;
    • Industry and competition are discussed (including some industry-specific ratio comparisons, if available);
    • Historical Standard & Poor’s Corporate Credit Rating or S&P Credit Model Score is reviewed (with comments on trends);
    • Research new industries (Strengths, Weaknesses, Opportunities, and Threats).

Present and defend investment thesis to Senior Executives & Board of Directors.

  • Communicate effectively, through both written and verbal communication, in order to support recommendations on various tenants and industries. This function is essential in maintaining the senior executives and Board of Directors’ confident in the Research Department’s investment analysis and fiduciary responsibility for the portfolio.

Perform financial and industry analysis and monitor financial condition of current tenants.

  • Daily review and summarization of relevant news publications and press releases to ensure the Research Department, Investment Committee and others within the company are aware of current events that may have an immediate or long term impact on the performance of our portfolio.
  • Maintain accurate internal financial records for existing tenants in order to appropriately assess the financial risk of individual tenants.
  • Monitoring the financial health of Realty Income’s portfolio by tracking a composite of various metrics and ratios to verify the credit worthiness and stability of the portfolio.
  • Participate in the updated financial analysis on the top 20 largest tenants (by rental revenue percentage) and compiling other portfolio data for the Executive Management Team in preparation for the quarterly earnings conference calls.
  • Analyze quarterly earnings reports for the top 20 tenants and other selected tenants, and provide summaries for senior management.

Due diligence trips to access current and future tenant’s operations and management team.

  • Attend due diligence trips along with Real Income senior executives to foster new and existing relationship with tenants and finial sponsors in order to garner additional transaction volume. The Due Diligence trips also provide a greater understanding of tenants and typically correspond with field visits to the tenants’ stores/facilities.

Performs other duties as assigned.

Education and Experience:

  • Bachelor’s Degree required, Graduate degree a plus.
  • 7+ years of experience of analyzing private or public company’s financials.
  • Experience writing detailed reports conveying one’s opinion on various companies and industries.
  • Excellent oral and written communication skills and presentation abilities including the ability to communicate complex ideas to large groups, including senior management.
  • Extensive knowledge of financial statement analysis.

Certificates, licenses or registrations:

  • In process of or holding a Charter Financial Analyst (CFA) designation a plus.

Knowledge, Skills, and Abilities:

  • Excellent oral and written communication skills and presentation abilities, including the ability to communicate complex ideas to large groups, senior management, and Board of Directors.
  • Extensive knowledge of financial statement analysis.
  • Strong background in Excel, along with PC skills (Outlook, Word and Power Point).
  • Ability to execute in ambiguous situations and take the lead without explicit instruction.
  • Attention to detail and work with minimal oversight.
  • Thirst for learning new concepts.

Job Functions


  • Research/Market Analysis
  • Underwriting
  • Due Diligence
 

Job Sectors


  • Industrial
  • Office
  • Retail
 

Experience


7+ to 10 years


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