Finance, Investment, and Investment Performance: Evidence From the REIT Sector
- Tags:
- Business Operations,
- Finance,
- Investment,
- Performance,
- Real Estate,
- REIT,
- University Of Wisconsin
- Source:
- University of Wisconsin
FREE Registration is required
Overview: The paper examines financing, investment, and investment performance in the equity REIT sector over the 1981-1999 time period. Analysis reveals significant differences between the old-REIT (1981-1992) and new-REIT (1993-1999) eras. The sector experienced rapid growth in the new-REIT era, primarily from firm-level investment as opposed to new entry. Firm-level investment was largely financed by equity and long-term debt, with little reliance on retained earnings. Investment policy stabilized in the new- REIT era, and capital structures became more complex.
(Is this item miscategorized? Does it need more tags? Let us know.)
Format: PDF | Size: 539KB | Date: Oct 2004 | Pages: 47




