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The role of debt in REIT equity issuance at a discount to net asset values

Soyeh, Kenneth; Kim, Dongshin; Gyamfi-Yeboah, Frank - In: Journal of real estate research : JRER ; a publication … 43 (2021) 2, pp. 226-247

Persistent link: https://www.econbiz.de/10012608625

Do REITs Manipulate Their Financial Results Around Seasoned Equity Offerings? Evidence from US Equity REITs

Zhu, Yuan Wei - 2010

This study addresses two questions: Is there earnings management in the REIT industry around seasoned equity offerings (SEO)? How is earnings management affected by financial and governance factors? Discretionary accruals methods are used to measure earnings management. In addition, the...

Persistent link: https://www.econbiz.de/10013147468

Does Size Matter? The Effects of Bid-Ask Spreads and Market Capitalization on Reit Returns

Cole, Rebel A. - 2010

The REIT industry has experienced tremendous growth in the 1990s, with its market capitalization quintupling from $9 billion to $58 billion. Over the same time period, REIT liquidity as measured by the percentage bid-ask spread declined significantly from 5.6% to 3.9% (Bhasin, Cole, and Kiely...

Persistent link: https://www.econbiz.de/10013147868

Market Value of REIT Liquidity

Hill, Matthew D. - 2010

We examine the relation between firm value and liquidity among REITs. Results show shareholders benefit from both cash and unused credit line capacity. The market values an additional dollar of cash at a premium and, as theory predicts, unused credit lines are significantly less valued than...

Persistent link: https://www.econbiz.de/10013147888

The Impact of Stock and Real Estate Returns on the Propensity of Households to Meet the Capital Accumulation Ratio Guideline

Letkiewicz, Jodi - 2014

The current study investigates the impact of substantial economic fluctuations on household portfolios and analyzes how the fluctuations influence households' propensities to meet the capital accumulation ratio threshold of 25%. The 1992 to 2007 Survey of Consumer Finances datasets were analyzed...

Persistent link: https://www.econbiz.de/10013060490

Are We Overestimating REIT Idiosyncratic Risk? Analysis of Pricing Effects and Persistence

Abugri, Benjamin A. - 2014

This study uses a multifactor REIT-specific model to estimate and compare REIT idiosyncratic volatility vis-à-vis the … same from the Fama-French three-factor model. Estimates of conditional idiosyncratic volatility and conditional betas … appear to be short-lived and seems to have a lasting impact on future idiosyncratic volatility. We also observe mild evidence …

Persistent link: https://www.econbiz.de/10013063688

Multifactor Asset Pricing Model Evidence From Hotel Stocks and Lodging Real Estate Investment Trusts

Almudhaf, Fahad - 2020

The main objective of this study is to examine the performance of hotel stocks and lodging real estate investment trusts (REITs) by estimating the recent Fama-French five-factor model (including investment and profitability factors) with an additional momentum factor during the 2000–2015...

Persistent link: https://www.econbiz.de/10012827915

Are Markets Adaptive? Evidence of Predictability and Market Efficiency of Lodging/Resort REITs

Almudhaf, Fahad - 2020

We investigate the degree of return predictability of lodging/resort real estate investment trusts (REITs) from January 1994 to May 2016. We test the Martingale hypothesis by using linear (automatic portmanteau and automatic variance ratio with rolling windows) and nonlinear tests (generalized...

Persistent link: https://www.econbiz.de/10012827928

Examining cross-border comovements of REITs around the world

Alhassan, Abdulrahman; Johnson, Mark A.; Naka, Atsuyuki - In: Journal of real estate research : JRER ; a publication … 43 (2021) 3, pp. 290-316

Persistent link: https://www.econbiz.de/10012696748

Do we need non-linear models to predict REIT returns?

Case, Bradford; Guidolin, Massimo; Yildirim, Yildiray - 2013

We investigate whether the favorable performance of a fairly simple multistate multivariate Markov regime switching model relative to even very complex multivariate GARCH specifications, recently reported in the literature using measures of in-sample prediction accuracy, extends to pseudo...

Persistent link: https://www.econbiz.de/10010206925