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Contribution to Book
REITs: Structure and Performance
Articles and Chapters
  • Walter I. Boudry, Cornell University School of Hotel Administration
  • Jarl G. Kallberg, Washington State University
Publication Date
9-8-2014
Disciplines
Abstract

[Excerpt] REITs are attractive to investors, particularly institutional investors, due to their high dividend payouts and ability to provide more liquidity to the underlying market for direct real estate investment. This chapter analyzes the performance of real estate investment trusts (REITs). It compares the returns on REITs with those on more traditional asset classes, specifically bonds and mid-cap equities, and surveys the academic literature dealing with the diverse issues related to valuation. The chapter also examines the linkages between REIT performance and the behavior of the underlying real estate market. Because the chapter takes the perspective of a U.S.-based investor, it does not directly address the broader issues of global REITs.

Comments

Required Publisher Statement
© Oxford University Press. Final version published as: Boudry, W. I., & Kallberg, J. G. (2016). REITs: Structure and performance. In H. K. Baker & P. Chinloy (Eds.), Public real estate markets and investments (pp. 195-212). New York, NY: Oxford University Press. Reprinted with permission. All rights reserved.

Citation Information

Boudry, W. I., & Kallberg, J. G. (2016). REITs: Structure and performance [Electronic version]. Retrieved [insert date], from Cornell University, SHA School site: http://scholarship.sha.cornell.edu/articles/888