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Journal article
The REIT Industry's First 55 Years: Keys to Longevity
International journal of business, Vol.25(3), pp.215-229
2020
Web of Science ID: WOS:000562173500001
Abstract
On September 14, 2010, the REIT industry, created by Congress for individuals to invest in commercial real estate, celebrated its 50th Anniversary. In September 2016, Equity REITs and listed real estate companies were elevated with a new Global Industry Classification Standards (GICS) Real Estate sector. Only three REITs survived the first 55 years: Washington Real Estate Investment Trust, Pennsylvania Real Estate Investment Trust, and Winthrop Realty Trust. The research question is, "Do the three companies with the most longevity in the industry reveal any differences from other REITs that left the market?" Historical analysis from 1961 - 2015 utilized Compustat, SNL Financial, and hand-collected data. Financial analysis included REIT industry specific metrics, along with traditional financial ratios. Significant differences exist in the three surviving REITs and all other REITs that offers insight into long-term survival in real estate markets. Qualitative analysis provides further insight into possible contributors to REIT longevity.
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Details
- Title
- The REIT Industry's First 55 Years
- Publication Details
- International journal of business, Vol.25(3), pp.215-229
- Resource Type
- Journal article
- Publisher
- Premier Publishing, Inc
- Number of pages
- 15
- Identifiers
- WOS:000562173500001; 99381500493506600
- Academic Unit
- Lewis Bear Jr. College of Business; Accounting and Finance
- Language
- English