Institutional investors' preferences for REIT stocks
Series: Real Estate Economics ; 30(4) 2002, 567-593(14)Publication details: 2002Subject(s): Summary: 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].| Item type | Current library | Call number | Copy number | Status | Date due | Barcode | |
|---|---|---|---|---|---|---|---|
| Journal article | London Journal article | ABS66358 (Browse shelf(Opens below)) | 1 | Available | 121296-1001 |
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].