4 Real Estate Investment Trusts

Adams, Gunnar

doi:10.1515/9783110402780.33

Cited by 17 publications

(1 citation statement)

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“…Crow and Krisbergh (2010) propose that REITs are more transparent due to the real-time pricing mechanisms that are used to determine the real market value. Bhuyan et al (2015) discover that REITs offer better diversification to common stocks, yet Asteriou and Bogiazi (2013) suggest a positive correlation between REITs returns and the general stock market.…”

Section: Literature Reviewmentioning

confidence: 99%

The Evaluation of the Impact of Macroeconomic Indicators on the Performance of Listed Real Estate Companies and Reits

Cohen

Burinskas

2020

ECO

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Using quarterly data from 2006:Q1 to 2019:Q3 (55 observations), this paper examines 18 Eurozone macroeconomic variables that represent monetary policy, external and construction sectors’ performance, economic growth, investment, households’ earnings, inflation and assesses their impact on the performance of the European listed real estate companies and REITs. Empirical results demonstrate that the European listed real estate market is strongly influenced by the supply side: the construction sector and the inflation of producers’ prices; while the demand side is strongly affected by the expansionary monetary policy of ECB. Furthermore, some primary findings propose that US expansionary monetary policy shocks have an effect on the European listed real estate market. This conclusion demands further thorough research.

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Section: Literature Reviewmentioning

confidence: 99%

The Evaluation of the Impact of Macroeconomic Indicators on the Performance of Listed Real Estate Companies and Reits

Cohen

Burinskas

2020

ECO

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Effects of the 2003 Dividend Tax Cut: Evidence from Real Estate Investment Trusts

Edgerton

2010

SSRN Journal

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Recent literature has estimated that the 2003 dividend tax cut caused a large increase in aggregate dividend payouts, which would imply that dividend taxation creates large efficiency costs relative to the amount of revenue raised. I document that dividend payouts by real estate investment trusts also rose sharply following the tax cut, even though REIT dividends did not qualify for the cut. Using REITs as a control group in a simple difference-in-differences framework produces small and statistically insignificant estimates of the effect of the tax cut on aggregate dividend payouts. I further document that the ratio of dividend payouts to corporate earnings changed little after the tax cut, and that the ratio of dividend payouts to share repurchases fell dramatically. These facts suggest that contemporaneous increases in earnings and investor demand for payouts drove the observed increases in aggregate dividend payouts, with at most a modest role for the tax cut.JEL Codes: H24, G35.

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Hedge Funds and the US Real Estate Bubble: Evidence from NYSE Real Estate Firms

Hardouvelis

Stamatiou

2011

SSRN Journal

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4 Real Estate Investment Trusts

Cited by 17 publications

References 0 publications

The Evaluation of the Impact of Macroeconomic Indicators on the Performance of Listed Real Estate Companies and Reits

The Evaluation of the Impact of Macroeconomic Indicators on the Performance of Listed Real Estate Companies and Reits

Effects of the 2003 Dividend Tax Cut: Evidence from Real Estate Investment Trusts

Hedge Funds and the US Real Estate Bubble: Evidence from NYSE Real Estate Firms

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