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REITs Improve Investment Incentives
A trio of economists—Michael Highfield of Mississippi State University, Kenneth Roskelley of Louisiana Tech University and Fang Zhao of Siena College—asked what motivates the decisions that REITs make with respect to issuing short or long-term debt.
[September/October 2008] |
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Various Risk-Adjusted Performance Measures are Equally Effective for REIT Analysis
As REITs become more accepted as an alternative asset class, issues surrounding their performance take on more importance for investors of all types.
[May/June 2008]
Investors Should Allocate Holdings to Global and U.S. REITs
The increased scrutiny on publicly traded real estate companies in North America because of the increased securitization of direct real estate investments has led to gradual efficiency gains that contributed to the out-performance of historical real estate returns.
[January/February 2008]
REITS Bring Geographic Diversification to Direct Investors
Eliminating the diversifiable risk of real estate portfolios requires investing in many different metropolitan statistical areas (MSAs) and a large number of properties.
[November/December 2007]
Smaller REIT Sectors Enhance Portfolio Diversification Power
Institutional investors have traditionally concentrated on low-risk core real estate portfolios of office, retail and industrial properties.
[September/October 2007]
When Should You Buy? Economists Say Twists and Turns in the Long Upward REIT Trend Are Predictable
From "Duration Dependence in Real Estate Investment Trusts," by James E. Payne and Thomas W. Zuehlke, published in Applied Financial Economics, March 2006.
[May/June 2007]
Further Proof: Investment in REITs Diversifies Portfolios, Hedges Against Inflation
“The results let us conclude that almost no evidence exists for a tight long-term relationship between real estate securities and the development of broader stock markets.
[March/April 2007]
A Quick Study
Professors from the University of Wisconsin and University of Iowa business schools found that REITs provide an important hedging function, noting that REITs "deliver portfolio gains when consumption growth is low and/or volatile, i.e., when investors really care for such benefits."
[January/February 2007]
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