Institutional investors' preferences for REIT stocks
Ciochetti, B.A.
Institutional investors' preferences for REIT stocks - 2002 - Real Estate Economics 30(4) 2002, 567-593(14) .
This article investigates the determinants of real estate investment trusts (REIT) portfolio investment and institutional REIT ownership using multivariate Tobit regressions. Contends that many institutional investors take larger positions in more liquid assets like REIT stocks, as compared with private real estate equities, because of liquidity considerations. Consistent with this contention, finds that liquidity constraints are significantly related to REIT portfolio investment by institutional investors. Also finds that institutional investors have different preferences for REIT stocks than do other investors; they generally prefer larger, more liquid REIT stocks. [Taken from journal headnote].
REITS
REITS
EQUITIES
LIQUID ASSETS
PORTFOLIO INVESTMENT
INSTITUTIONAL INVESTORS
INVESTMENT VEHICLES
Institutional investors' preferences for REIT stocks - 2002 - Real Estate Economics 30(4) 2002, 567-593(14) .
This article investigates the determinants of real estate investment trusts (REIT) portfolio investment and institutional REIT ownership using multivariate Tobit regressions. Contends that many institutional investors take larger positions in more liquid assets like REIT stocks, as compared with private real estate equities, because of liquidity considerations. Consistent with this contention, finds that liquidity constraints are significantly related to REIT portfolio investment by institutional investors. Also finds that institutional investors have different preferences for REIT stocks than do other investors; they generally prefer larger, more liquid REIT stocks. [Taken from journal headnote].
REITS
REITS
EQUITIES
LIQUID ASSETS
PORTFOLIO INVESTMENT
INSTITUTIONAL INVESTORS
INVESTMENT VEHICLES