Brounen, Dirk; Huij, Joop; Marquering, Wessel - European Real Estate Society - ERES - 2006
In this paper we analyze the persistence of US REITs over the period 1990-2005. By employing a novel methodological approach we shed new light on whether investors can pick winners by simply looking at past performance. The private real estate industry is notorious for its lack of informational...