Peer REIT means each of the business entities qualified as real estate investment trusts (“REITs”) that are part of the constituent companies contained in the FTSE NAREIT Index excluding all REITs classified as “hybrid REITs” and all REITs classified as “mortgage REITs” within that FTSE NAREIT Index. The Committee may in its sole and absolute discretion exclude from the group of Peer REITs any REIT (A) that is in bankruptcy at any point during the Performance Period or (B) that was added to or removed from the FTSE NAREIT Index during the Performance Period or otherwise was not part of the index for the full Performance Period. In lieu of excluding such Peer REIT altogether, the Committee may adjust the calculation of Total Return to the extent determined by the Committee in its reasonable discretion.

Peer REIT means each of the business entities qualified as real estate investment trusts (“REITs”) that are publicly-traded “equity REITs.” It is the current intention of the Committee to use the Peer REITs identified by the National Association of Real Estate Investment Trusts (“NAREIT”) to determine the Peer REIT Total Return for each Peer REIT. If the Committee determines that NAREIT no longer identifies Peer REITs, or that NAREIT’s identification of Peer REITs is no longer suitable for the purposes of this Agreement, then the Committee in its good faith reasonable discretion shall select Peer REITs identified by another reputable business organization for purposes of this Agreement. REITs classified as “mortgage REITs” are not included in the definition of Peer REIT. The Committee may in its sole and absolute discretion exclude from the group of Peer REITs designated as set forth above, any REIT (A) that is in bankruptcy at any point during the Performance Period or (B) that did not qualify as a Peer REIT during the entire Performance Period. In lieu of excluding such Peer REIT altogether, the Committee may adjust the calculation of Peer REIT Total Return for any REIT described in (A) or (B) of the preceding sentence, to the extent determined by the Committee in its reasonable discretion. The Committee does not have the discretion to adjust the Peer REIT Total Return for matters other than as described above.

Examples of Peer REIT in a sentence

By way of illustration, the foregoing would allow the Committee to provide for vesting to occur at a particular level if the Peer REIT Total Return of a number of Peer REITs is clustered within a narrow range such that the effect of the precise calculation of percentile rank would be that vesting would not occur or occur at a lower level.
For the avoidance of doubt, assuming no Change of Control (i.e. the last day of the Performance period is December 31, [2014]), the intent of this Section 4(a) is that (i) the Company’s Total Return will be calculated using as the first input the Share Price on December 31, [2013] and as the last input the Share Price on December 31, [2014], and (ii) each Peer REIT’s Total Return will be calculated in the same manner with respect to the common equity of each such Peer REIT.
Total stockholder return was measured by the compounded total annual return per share achieved by the shares of common stock of our Company or such Equity Peer REIT and assumed reinvestment of all dividends and distributions.
The percentile rank above shall be calculated using the following conventions: Percentile Rank = XYWhere:X = the number of Peer REITs with a Peer REIT Total Return lower than the Company’s Total Return during the Performance Period.Y = the total number of Peer REITs minus 1.
Total stockholder return will be measured by the compounded total annual return per share achieved by the shares of Common Stock of our Company or such Peer REIT and assumed reinvestment of all dividends and other distributions.

More Definitions of Peer REIT

Peer REIT means each of the following business entities qualified as real estate investment trusts (“REITs”) that are publicly traded, U.S.-based “equity REITs” and are categorized in the Nareit Index as “Mall” or “Shopping Center” REITs and which have a market cap at the start of the performance period of at least $600 million: Simon Property Group, Inc., Regency Centers Corporation, Federal Realty Investment Trust, Kimco Realty Corporation, Brixmor Property Group Inc., Retail Opportunity Investments Corp., Urban Edge Properties, Kite Realty Group Trust, Acadia Realty Trust, Tanger, Inc., Xxxx Centers, Inc., InvenTrust Properties Corp., CBL & Associates Properties, Inc., SITE Centers Corp. and Xxxxxxxx Xxxxxx & Company, Inc.; provided that such business entities must be publicly traded for the entire Cumulative Performance Period to constitute a Peer REIT; provided further that if any business entity is delisted due to bankruptcy during the Cumulative Performance Period it will remain a Peer REIT (such delisted business entities, “Delisted Peer REITs”).

Peer REIT means each of the business entities qualified as real estate investment trusts (“REITs”) that are publicly-traded, U.S.-based “equity REITs” and are categorized in the National Association of Real Estate Investment Trusts (“NAREIT”) Index as “Mall” or “Shopping Center” REITs; provided that such business entities must be publicly-traded for the entire Performance Period to constitute a Peer REIT; provided further that if any business entity is delisted due to bankruptcy during the Performance Period it will remain a Peer REIT (such delisted business entities, “Delisted Peer REITs”). If the Committee determines that NAREIT no longer identifies Peer REITs, or that NAREIT’s identification of Peer REITs is no longer suitable for the purposes of this Agreement, then the Committee in its good faith reasonable discretion shall select Peer REITs identified by another reputable business organization for purposes of this Agreement. The Committee does not have the discretion to adjust the Peer REIT Total Return for matters other than as described above.

Peer REIT means each of the following business entities qualified as real estate investment trusts (“REITs”) that are publicly-traded, U.S.-based “equity REITs” and are categorized in the Nareit Index as “Mall” or “Shopping Center” REITs: Simon Property Group, Inc., Brookfield Property REIT Inc., Regency Centers Corporation, Federal Realty Investment Trust, Kimco Realty Corporation, Brixmor Property Group Inc., Weingarten Realty Investors, SITE Centers Corp. Retail Opportunity Investments Corp., Retail Properties of America, Inc., Urban Edge Properties, Kite Realty Group Trust, Acadia Realty Trust, American Finance Trust, Inc., Tanger Factory Outlet Centers, Inc., Saul Centers, Inc., RPT Realty, Urstadt Biddle Properties Inc., Whitestone REIT, Retail Value Inc., Cedar Realty Trust, Inc.; provided that such business entities must be publicly-traded for the entire Cumulative Performance Period to constitute a Peer REIT; provided further that if any business entity is delisted due to bankruptcy

Peer REIT means each of the business entities qualified as real estate investment trusts (“REITs”) that are part of the constituent companies contained in the FTSE NAREIT ALL EQUITY REITs Index, which excludes REITs classified as “hybrid REITs” and all REITs classified as “mortgage REITs” included in the FTSE NAREIT Index. The Committee may in its sole and absolute discretion exclude from the group of Peer REITs any REIT

Peer REIT means each of the business entities qualified as real estate investment trusts ("REITs") listed on Schedule B hereto, and any successors to the businesses or assets of such REITs as determined by the Committee in its sole and absolute discretion. If a REIT listed on Schedule B (A) ceases to exist during the term of this Agreement and the Committee determines that there is no successor to the business or assets of such REIT or (B) the common shares of a Peer REIT are no longer publicly traded, then such REIT will cease to be treated as a member of the group of Peer REITs to the extent and for the periods determined by the Committee in its reasonable discretion. Notwithstanding the foregoing, from time to time the Committee may remove from or add to the list set forth on Schedule B such business entities, including non-REITs, as appropriate in its reasonable discretion to make the Total Return comparisons required by Section 4 hereof meaningful and consistent across the relevant measurement periods.

Peer REIT means each of the following business entities qualified as real estate investment trusts (“REITs”) that are publicly-traded, U.S.-based “equity REITs” and are categorized in the Nareit Index as “Mall” or “Shopping Center” REITs: Simon Property Group, Inc., Brookfield Property REIT Inc., Regency Centers Corporation, Federal Realty Investment Trust, Kimco Realty Corporation, Brixmor Property Group Inc., Xxxxxxxxxx Realty Investors, SITE Centers Corp. Retail Opportunity Investments Corp., Retail Properties of America, Inc., Urban Edge Properties, Kite Realty Group Trust, Acadia Realty Trust, American Finance Trust, Inc., Tanger Factory Outlet Centers, Inc., Xxxx Centers, Inc., RPT Realty, Urstadt Xxxxxx Properties Inc., Whitestone REIT, Retail Value Inc., Cedar Realty Trust, Inc.; provided that such business entities must be publicly-traded for the entire Cumulative Performance Period to constitute a Peer REIT; provided further that if any business entity is delisted due to bankruptcy during the Cumulative Performance Period it will remain a Peer REIT (such delisted business entities, “Delisted Peer REITs”).

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