We examine primary and secondary market returns for REIT initial public offerings (IPOs). Consistent with theories regarding compensation for information production during the roadshow, we find offer-to-open returns are directly related to partial adjustment and are significantly lower for REITs...

This research uses the maturity of incremental bond issues and the weighted-average maturity of all outstanding debt and tests various theories from the corporate debt maturity literature to discover if real estate investment trust (REIT) debt maturity is influenced by liquidity risk, asymmetric...