Characteristics of Institutional Investment in Real Estate Investment Trusts

Topics:
Regulatory Compliance
Tags:
Business Operations,
Finance,
Investment,
Real Estate,
REIT
Source:
University of North Carolina

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Overview: This paper tries to investigate whether the changing composition of institutional demand for real estate investment trust (REIT) stocks can partially explain changes in the relative prices of REIT shares over the period 1993 to 1998.It can be observed that institutional investors have a significant preference for REIT shares with greater market capitalization and greater liquidity. The paper also provides evidence suggesting that these preferences, combined with a tripling of their share of ownership of the REIT market from 1993 to 1998, induced significant changes in the relative prices of REIT shares and returns over this time period.

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Format: PDF | Size: 13KB | Date: Mar 2000 | Pages: 5


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