The role of residential REITs in REIT portfolios

Graeme Newell, Franz Fischer

    Research output: Contribution to journalArticle

    Abstract

    Residential real estate in vestment trusts (REITs) make a significant contribution to the overall REIT market, accounting for 13.5% of the equity REIT market capitalization at December 2007. The current housing crisis in the United States has seen an increased focus on residential REITs. This paper assesses the significance of residential REITs in a REIT portfolio over Q1:1994-Q4:2007. In particular, their risk-adjusted performance and portfolio diversification benefits are compared with the other REIT sub-sectors and to stocks, bonds, and real estate. The ongoing effect of the current US. housing downturn on the future outlook for residential REITs is also assessed.
    Original languageEnglish
    Pages (from-to)129-139
    Number of pages11
    JournalJournal of Real Estate Portfolio Management
    Volume15
    Issue number2
    Publication statusPublished - 2009

    Keywords

    • United States
    • bonds
    • housing
    • portfolio diversification
    • portfolio management
    • real estate investment trusts
    • residential real estate
    • stocks

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