A Preliminary Analysis for Measuring Operating Performance of Real Estate Investment Trusts in Taiwan: Net Income vs. Operation Funds

Preliminary and Incomplete Deviations between Stock Price and Fundamental Value for Real Estate Investment Trusts

We document that real estate investment trust (REIT) stock prices deviate from net asset values (NAV), as measured by Green Street Advisors, a buy-side research firm. Using REIT data since 1990, we find large positive excess returns to a strategy of buying stocks that trade at a discount to NAV, and shorting stocks trading at a premium to NAV. Estimated alphas are between 1.2% and 1.8% per mont...

CROSS LISTING OF REAL ESTATE INVESTMENT TRUSTS (REITs)

The Financial Rewards of Sustainability: A Global Performance Study of Real Estate Investment Trusts

This study shows for the first time, that investing comprehensively in sustainability as measured by the GRESB rating) pays off for REITs by enhancing operational performance and lowering risk exposure and volatility. Analyzing a sample of REITs from North America, Asia and Europe for the 2011-14 time period, it also appears that there is a great deal of untapped potential, particularly in the ...

Questioni Di Economia E Finanza Italian Real Estate Investment Funds: Market Structure and Risk Measurement Questioni Di Economia E Finanza Italian Real Estate Investment Funds: Market Structure and Risk Measurement Italian Real Estate Investment Funds: Market Structure and Risk Measurement

This paper describes the Italian real estate investment funds industry, providing an overview of the distinctive features and risk factors of this sector. By using accounting and supervisory data, we: (1) compute the returns of the real estate assets in the portfolio of these funds; (2) construct a price index and a total return index of the real estate assets held by the Italian funds; (3) def...

A knowledge-based decision support system for measuring the performance of government real estate investment

This paper describes a knowledge-based decision support system for measuring the performance of government real estate investment using DEA models. We propose an evaluation framework for real estate investment, including a database, a model base, and a knowledge base, to create a tool that a government can use to deal with decision-making problems via the Internet. This decision support system ...