Relative Performance of Real Estate Exchange-Traded Funds

2021 ◽  
pp. 1-10
Author(s):  
Kimberly R. Goodwin ◽  
Srinidhi Kanuri ◽  
Robert W. McLeod
Keyword(s):  
Real Estate ◽  
Relative Performance ◽  
Exchange Traded Funds

scholarly journals Indirect investment and financial performance of the real estate sector in Nairobi county Kenya

2019 ◽  
Vol 1 (4) ◽  
pp. 09-18
Author(s):  
William Suley Menges ◽  
Kevin Getii Moranga
Keyword(s):  
Real Estate ◽  
Secondary Data ◽  
Target Population ◽  
Exchange Traded Funds ◽  
Trust Fund ◽  
The Real ◽  
The Real Estate ◽  
Investment Trust ◽  
Real Estate Sector ◽  
Online Sources

The purpose of this study was to assess the effect of indirect investment on the performance of real estate in Nairobi County Kenya. The independent variables for indirect investment were: investment trusts, exchange-traded funds, commingled funds, and infrastructure funds. The dependent variable was the performance of real estate in Nairobi County Kenya. Secondary data was collected from the real estate’s online sources and some from the company offices and analyzed using multiple regression analysis. Both descriptive statistics and inferential statistics were determined. The study was only able to collect secondary data from 45 real estate companies out of the target population of 69 registered by KPDA in 2015 as it was hard to get data of the rest either from online sources or from the company offices. With the aid of STATA 12.0 software and Excel software, quantitative results were tabulated and presented in the form of charts, bar graphs, and narratives. The study found an existing relationship between the performance of the real estate sector and the Investment Trust Fund, the Exchange Trust Fund, the Commingled Fund, Infrastructure Fund. The study concludes that most of the coefficients were significant. The study also concludes that there is a relationship between the performance of the real estate sector and the Investment Trust Fund, Exchange Trust Fund, Commingled Fund, Infrastructure Fund when these components are considered together, they affect Performance.

scholarly journals The Relative Performance of Real Estate Marketing Platforms: MLS versus FSBOMadison.com

2009 ◽  
Vol 99 (5) ◽  
pp. 1878-1898 ◽  
Author(s):  
Igal Hendel ◽  
Aviv Nevo ◽  
François Ortalo-Magné
Keyword(s):  
Real Estate ◽  
Direct Evidence ◽  
Network Size ◽  
Relative Performance ◽  
Listing Service ◽  
Platform Competition ◽  
Real Estate Marketing ◽  
Multiple Listing Service ◽  
Two Sided Markets

We compare house sales on a For-Sale-By-Owner (FSBO) platform to Multiple Listing Service (MLS) sales and find that FSBO precommission prices are no lower, but that FSBO is less effective in terms of time to sell and probability of a sale. We do not find direct evidence of the importance of network size as a reason for the lower effectiveness of FSBO. We do find evidence of endogenous platform differentiation: patient sellers use FSBO while patient buyers transact more often on the MLS (where they avoid patient sellers). We discuss the implications for platform competition, two-sided markets, and welfare. (JEL L85, M31, R31)

Study of REIT ETF beta

2016 ◽  
Vol 17 (3) ◽  
pp. 347-369
Author(s):  
Stoyu I. Ivanov
Keyword(s):  
Real Estate ◽  
Factor Model ◽  
Real Estate Investment Trust ◽  
Capital Asset Pricing ◽  
Exchange Traded Funds ◽  
Financial Instrument ◽  
Content Type ◽  
Asset Pricing Model ◽  
Daily Data ◽  
Retail Investors

Purpose The aim of this study is to examine real estate investment trust exchange-traded funds (REIT ETFs) and test for the existence of the “asymmetric beta puzzle” phenomenon in these financial instruments that are relatively new and are gaining popularity. The “asymmetric beta puzzle” phenomenon is used to identify the hedging and diversification benefits of a financial instrument. “Asymmetric beta puzzle” exists when betas in declining markets are higher than betas in advancing markets. Design/methodology/approach To study 14 REIT ETFs by using monthly and daily Center for Research in Security Prices (CRSP) data. Capital asset pricing model (CAPM) and Fama–French three-factor model were used to estimate betas in REIT ETFs and those in advancing and declining markets. Both the S&P 500 and the CRSP value-weighted indices were used in the beta estimation. Two hypotheses with regard to betas in both advancing and declining markets were defined and tested to test for the existence of the “asymmetric beta puzzle” phenomenon. Findings This study confirms the presence of the “asymmetric beta puzzle” in the data of monthly REIT ETFs as documented by Goldstein and Nelling (1999) and Chatrath et al. (2000) for REITs; however, this phenomenon was not found when using daily data, but quite the opposite – REIT ETF betas are higher in advancing markets than they are in declining markets – was found. Originality/value Goldstein and Nelling (1999) and Chatrath et al. (2000) identify the phenomenon of “the asymmetric REIT-beta puzzle” in monthly REIT’s returns. This study revisits the phenomenon identified in the aforementioned authors’ studies by using daily data and a relatively new real estate financial instrument – REIT ETFs. Therefore, this paper fills a void in the literature and would benefit both institutional and retail investors in their portfolio designs.

scholarly journals Empirical Observations on the Tracking Errors and the Risk-Adjusted Returns of REIT-Based Exchange Traded Funds

2016 ◽  
Vol 11 (9) ◽  
pp. 63
Author(s):  
Subhashis Nandy
Keyword(s):  
Real Estate ◽  
Real Estate Investment Trusts ◽  
Exchange Traded Funds ◽  
Real Estate Investment ◽  
Tracking Errors ◽  
Investment Trusts ◽  
The Mean

<p>In the last few years, investments in exchange traded funds (ETFs) have gained significant popularity among the financial investors. Financial investors have also shown enormous interests in investments in REITs (Real Estate Investment Trusts). The researcher has determined the tracking errors of REIT based ETFs from the corresponding REIT indexes. The null hypotheses that there are no correlations between the risk adjusted returns of REIT based ETFs and the risk-adjusted returns of the corresponding index have been tested at 0.05 levels of significances. The period used in this study is from April 2010 to March 2016. The results indicate that the mean tracking errors of REIT based ETFs are very small. The findings also indicate that the null hypotheses that there are no correlations between the risk-adjusted returns of REIT based ETFs and the risk adjusted returns of the corresponding index can be rejected at 0.05 levels of significance.</p>

scholarly journals Indirect investment and financial performance of the real estate sector in Nairobi County Kenya

2020 ◽  
Vol 2 (1) ◽  
pp. 29-38
Author(s):  
William Suley ◽  
Kevin Getii Moranga
Keyword(s):  
Real Estate ◽  
Secondary Data ◽  
Target Population ◽  
Exchange Traded Funds ◽  
Trust Fund ◽  
The Real ◽  
The Real Estate ◽  
Investment Trust ◽  
Real Estate Sector ◽  
Online Sources

The purpose of this study was to assess the effect of indirect investment on the performance of real estate in Nairobi County Kenya. The independent variables for indirect investment were: investment trusts, exchange-traded funds, commingled funds, and infrastructure funds. The dependent variable was the performance of real estate in Nairobi County Kenya. Secondary data was collected from the real estate’s online sources and some from the company offices and analyzed using multiple regression analysis. Both descriptive statistics and inferential statistics were determined. The study was only able to collect secondary data from 45 real estate companies out of the target population of 69 registered by KPDA in 2015 as it was hard to get data of the rest either from online sources or from the company offices. With the aid of STATA 12.0 software and Excel software, quantitative results were tabulated and presented in the form of charts, bar graphs, and narratives. The study found an existing relationship between the performance of the real estate sector and the Investment Trust Fund, the Exchange Trust Fund, the Commingled Fund, Infrastructure Fund. The study concludes that most of the coefficients were significant. The study also concludes that there is a relationship between the performance of the real estate sector and the Investment Trust Fund, Exchange Trust Fund, Commingled Fund, Infrastructure Fund when these components are considered together they affect Performance

Real Estate Fraud

2008 ◽  
Author(s):  
Daniel Bradley
Keyword(s):  
Real Estate
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