Ali, Ijaz - In: Cogent business & management 9 (2022) 1, pp. 1-28
examine the earnings/return association at the firm- and aggregate-level using a dataset of all publicly listed US REITs from …-level data, specifically REITs. We fail to find an inverse relationship between aggregate earnings changes and concurrent stock … returns in REITs; yet, our data support the notion that aggregate level accounting income is relatively more predictable than …