Ben-Shahar, Danny; Sulganik, Eyal; Tsang, Desmond - In: Journal of Real Estate Research 33 (2011) 3, pp. 415-442
While the Real Estate Investment Trusts (REITs) industry is traditionally viewed as a cash flow business, REIT investors have also relied on Funds from Operations (FFO) and net income to evaluate company performance. In this study, we compare FFO and net income by examining how well these two...