Ciochetti, Brian A.; Craft, Timothy M.; Shilling, James D. - In: Real Estate Economics 30 (2002) 4, pp. 567-593
This article investigates the determinants of real estate investment trusts (REIT) portfolio investment and institutional REIT ownership using multivariate Tobit regressions. We contend that many institutional investors take larger positions in more liquid assets like REIT stocks, as compared...