Firm Level Factors that Affect Returns to Real Estate Investment Trusts PDF Download

Author: William Bryan Strange
Publisher:
ISBN:
Category :
Languages : en
Pages : 146

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Author: Stephanie Krewson-Kelly
Publisher: John Wiley & Sons
ISBN: 1119708710
Category : Business & Economics
Languages : en
Pages : 304

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Book Description
Learn to invest in REITs with confidence and skill with this powerful resource Educated REIT Investing is the ultimate resource for investors, financial advisors, and students interested in learning how to invest in real estate investment trusts (REITs)—one of the only asset classes to significantly outperform the S&P 500 Index over the last 25 years. Written by Stephanie Krewson-Kelly and Glenn R. Mueller, PhD., both accomplished REIT authors and investors with six decades of accumulated industry experience between them, Educated REIT Investing provides all the basics and history, then blends pragmatic strategies and advice with a thorough exploration of the fundamentals and nuances of the REIT industry. Topics include: Basic information about REITs and the REITs industry Terminology specific to the REIT industry, explained in plain-English Historical REIT industry performance tables and trading perspectives Analysis and equations needed to calculate key metrics used to identify the suitability of companies for investment purposes, illustrated with simple examples This book is perfect for anyone looking for a straightforward, easy-to-understand resource to establish or improve their understanding and analysis of real-estate investment trusts.

Author: Su Han Chan
Publisher: Oxford University Press
ISBN: 0198035357
Category : Business & Economics
Languages : en
Pages : 318

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Book Description
The book offers broad understanding and unique insights into the REITs industry. Its scope is to analyze and synthesize the existing scholarly research on REITs in a way that will enable managers to improve their investments decisions and the operating performance of their REITs. It also provides up-to-date original research on REITs based on the authors' own database, which is the most extensive data base available on REITs that is free of suvivorship bias. This book helps investors evaluate REITs and identify those with the greatest investment potential. Finally, it provides the reader with a detailed discussion of likely future changes anticipated for this unique invetment vehicle.

Author: Su Han Chan
Publisher: Financial Management Association Survey and Synthesis
ISBN: 0195155343
Category : Business & Economics
Languages : en
Pages : 318

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Book Description
This work provides the investing public, real estate practitioners, regulators and real estate and finance academics with up-to-date information on what modern scholarly research tells us about Real Estate Investment Trusts (REITs). REITs are credited to allow institutional and individual investors to invest in real estate via a corporate entity. The increasing interest in REITs as indicated by their growth in market capitalization and institutional holdings in the United States and around the world suggests that REITs are becoming an increasingly important part of investors' diversified portfolio.

Author: Richard Imperiale
Publisher: John Wiley & Sons
ISBN: 0470046244
Category : Business & Economics
Languages : en
Pages : 256

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Book Description
EVERYTHING YOU NEED TO KNOW ABOUT REITS GETTING STARTED IN REAL ESTATE INVESTMENT TRUSTS Real Estate Investment Trusts (REITs) offer small investors the chance to participate in a broad range of real estate opportunities across most major property sectors and geographic locations. But to make the most out of this proven investment vehicle, you must first gain a firm understanding of it. Getting Started in Real Estate Investment Trusts provides an accessible introduction to the benefits and performance characteristics of REITs and examines the role they play in a well-diversified investment portfolio. Divided into three comprehensive parts, Getting Started in Real Estate Investment Trusts covers a wide variety of issues within this field, including: * The legal and financial history of REITs * How REITs behave as an investment class and how they are best integrated into an investor's portfolio * The fundamental economic issues that affect real estate and how they impact REITs * Specific methods for analyzing REITs as an investment * Different types of REITs: residential, office, industrial, retail property, and more Filled with in-depth insight and practical advice, Getting Started in Real Estate Investment Trusts is a valuable road map to an investment that can help stabilize and grow your portfolio for years to come.

Author: David Geltner
Publisher: South Western Educational Publishing
ISBN: 9781133108825
Category : Commercial real estate
Languages : en
Pages : 826

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Rev. ed. of: Commercial real estate analysis and investments / David M. Geltner ... [et al.]. Mason, Ohio: Thompson South-Western, c2007.

Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 175

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This thesis is a continuation to a large research agenda investigating how market frictions affect residential and commercial real estate markets and offers a more comprehensive study on two recent observations in U.S.: the foreclosure spillover effect in residential housing market and the increased Real Estate Investment Trusts (REITs) return volatility in commercial real estate market. Central to the concerns about the tremendous foreclosure wave since 2006 is that such incidents may impose negative externalities on neighborhood properties, and on the wider community. A large literature has documented that a foreclosed home depresses neighboring property prices. However, few studies attempt to explain why such a contagion effect exists. Utilizing a novel capital expenditure dataset and an improved test design, I demonstrate that foreclosures spread over through the following channels: (1) individual homeowners cut capital expenditures when home prices fall and the likelihood of foreclosure increases, which results in a lower neighborhood amenity; (2) the reduction in capital expenditure generates a negative externality by providing other homeowners a disincentive to spend money on home improvement; (3) under-investment deteriorates home quality and brings down home prices; and (4) the decline in property prices further worsens the under-investment problem and completes a feedback loop. To understand the exacerbated REITs return volatility, I use the following two new approaches. The first approach investigates the impact of asymmetric transaction costs on return dynamics in public and private real estate markets and validates model propositions with simulation and empirical tests. It proposes that trading volume moving from private market to listed market and more volatile underlying asset value at down time contribute to high volatility. The second approach studies the impact of firm level economic activities, financial leverage and market risk on REITs volatility, using U.S equity REITs data from 1995 to 2009. The findings uncover the following channels for recent increase in REIT return volatility: (1) REITs firms become more leveraged over time; (2) REITs' beta values and market return volatility increase in the crisis; (3) Economic activities, such as cash flow news and discount rate news, positively affect REIT return volatility. Among these factors, increasing beta is the most influential contributor.

Author: William A. Kelley
Publisher: ALI-ABA
ISBN: 9780831807894
Category : Business & Economics
Languages : en
Pages : 254

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Author: Greg N. Gregoriou
Publisher: John Wiley & Sons
ISBN: 0471730041
Category : Business & Economics
Languages : en
Pages : 178

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Introducing Data Envelopment Analysis (DEA) -- a quantitative approach to assess the performance of hedge funds, funds of hedge funds, and commmodity trading advisors. Steep yourself in this approach with this important new book by Greg Gregoriou and Joe Zhu. "This book steps beyond the traditional trade-off between single variables for risk and return in the determination of investment portfolios. For the first time, a comprehensive procedure is presented to compose portfolios using multiple measures of risk and return simultaneously. This approach represents a watershed in portfolio construction techniques and is especially useful for hedge fund and CTA offerings." -- Richard E. Oberuc, CEO, Burlington Hall Asset Management, Inc. Chairman, Foundation for Managed Derivatives Research Order your copy today!

Author: Stephanie Krewson-Kelly
Publisher: John Wiley & Sons
ISBN: 1119252768
Category : Business & Economics
Languages : en
Pages : 216

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Book Description
The go-to guide for smart REIT investing The Intelligent REIT Investor is the definitive guide to real estate investment trusts, providing a clear, concise resource for individual investors, financial planners, and analysts—anyone who prioritizes dividend income and risk management as major components to wealth-building. The REIT industry experienced a watershed event when Standard & Poors created a new Global Industry Classification Standard (GICS) sector called Real Estate. Publicly traded equity REITs have been removed from Financials, where they have been classified since their creation in 1960, and have begun trading as their own S&P Sector. This separation from banks and financial institutions has attracted new investors, but REITs require an industry-specific knowledge that is neither intuitive nor readily accessible to newcomers—until now. Using straightforward language and simple example to illustrate important concepts, this book will enable any reader to quickly learn and understand the lexicon and valuation techniques used in REIT investing, providing a wealth of practical resources that streamline the learning process. The discussion explains terminology, metrics, and other key points, while examples illustrate the calculations used to evaluate opportunities. A comprehensive list of publicly-traded REITs provides key reference, giving you access to an important resource most investors and stockbrokers lack. REITs are companies that own or finance commercial rental properties, such as malls and apartment buildings. Despite historically high total returns relative to other investments, such as the Nasdaq or S&P 500 index, most investors are unfamiliar with the REIT industry, and wary of investing without adequate background. This book gets you up to speed on the essentials of REIT investing so you can make more informed—and profitable—decisions. Understand REITs processes, mechanisms, and industry Calculate key metrics to identify suitable companies Access historical performance tables and industry-specific terminology Identify publicly-traded REITs quickly and easily REITs have consistently outperformed many more widely known investments. Over the past 15-year period, for example, REITs returned an average of 11% per year, better than all other asset classes. Since 2009, REITs have enjoyed positive returns; large cap stocks and cash are the only other classes that paralleled that record. Even in 2015, a 'year of fear' related to rising rates, REITs returned 2.4%, beating most all other asset classes. REITs have a long history (over fifty years) of performance, and have entered the big leagues. If you feel like you've been missing out, don't keep missing out. Prepare yourself, and your portfolio, to benefit from the demand for REITs that have followed the creation of a Real Estate GICS sector. The Intelligent REIT Investor gives you the information you need to invest wisely and manage your real estate risk effectively. By maintaining a tactical exposure in the brick and mortar asset class, investors should benefit from the information contained in The Intelligent REIT Investor. Join the REIT world and look forward to owning stocks that will help you to sleep well at night.