Download or read book Real Estate Investment Trusts written by Su Han Chan and published by Financial Management Association Survey and Synthesis. This book was released on 2003 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work provides the investing public, real estate practitioners, regulators and real estate and finance academics with up-to-date information on what modern scholarly research tells us about Real Estate Investment Trusts (REITs). REITs are credited to allow institutional and individual investors to invest in real estate via a corporate entity. The increasing interest in REITs as indicated by their growth in market capitalization and institutional holdings in the United States and around the world suggests that REITs are becoming an increasingly important part of investors' diversified portfolio.

Download or read book IPOs and SEOs in the US Real Estate Industry written by Philip Radner and published by Springer. This book was released on 2017-01-20 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Philip Radner analyzes equity financing phenomena and researches IPO underpricing and SEO announcement effects using data sets for US REITs. Moreover, he discusses underpricing theories and their applicability in the REIT context and gives a theoretical background on IPOs and on underpricing in particular. With this background at hand, the results out of this dissertation imply to focus on the wording in IPO documents as it can help to maximize IPO proceeds. In addition, he analyzes how to better time and announce subsequent equity financing events. It is expected that significantly underpriced issues attract more investors and that subsequent SEOs are then easier to conduct and typically raise more capital.

Download or read book REITs written by David M. Einhorn and published by Law Journal Seminars Press. This book was released on 2017-12-28 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides essential discussion of how the customs of corporate and real estate transactions differ and how conflicts involving letters of intent and contingencies to the deal can be resolved.

Download or read book Securitization written by Andrew Davidson and published by John Wiley & Sons. This book was released on 2004-04-12 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book fills a very important gap in the mindset of the bond structurer and the investor. Often, the two disciplines approach their tasks ignorant of the perspectives of the other side. But successful structuring requires providing the best value to investors in order to compete, and investors who don’t fully understand structuring will not remain investors for long. Highly recommended!" —Bennett W. Golub, Managing Director, BlackRock, Inc. "An excellent primer on asset securitization, clearly written in plain English and with straightforward mathematical expressions. This book is suitable for both business school students and structured finance market practitioners." —Joseph Hu, PhD, Managing Director, Structured Finance Ratings, Standard & Poor’s "In their new work Securitization: Structuring and Investment Analysis, Andrew Davidson et al. reinforce their preeminence in the alchemy of mortgage securitization. Anyone involved in mortgages neglects Andy’s work at his peril." —Richard T. Pratt, Chairman, Richard T. Pratt Associates; Former Chairman, Merrill Lynch Mortgage Corporation "This book provides an insightful and accessible exploration of securitized real estate markets. As such, it provides a valuable service to those active and interested in these burgeoning markets. The authors have done a wonderful job of gracefully integrating a vast and important subject matter. Accordingly, this book also makes for an excellent textbook for those universities offering one or more courses in this rapidly growing field." —Joseph L. Pagliari, Jr., Kellogg School of Management, Northwestern University

Download or read book Educated REIT Investing written by Stephanie Krewson-Kelly and published by John Wiley & Sons. This book was released on 2020-10-06 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: Learn to invest in REITs with confidence and skill with this powerful resource Educated REIT Investing is the ultimate resource for investors, financial advisors, and students interested in learning how to invest in real estate investment trusts (REITs)—one of the only asset classes to significantly outperform the S&P 500 Index over the last 25 years. Written by Stephanie Krewson-Kelly and Glenn R. Mueller, PhD., both accomplished REIT authors and investors with six decades of accumulated industry experience between them, Educated REIT Investing provides all the basics and history, then blends pragmatic strategies and advice with a thorough exploration of the fundamentals and nuances of the REIT industry. Topics include: Basic information about REITs and the REITs industry Terminology specific to the REIT industry, explained in plain-English Historical REIT industry performance tables and trading perspectives Analysis and equations needed to calculate key metrics used to identify the suitability of companies for investment purposes, illustrated with simple examples This book is perfect for anyone looking for a straightforward, easy-to-understand resource to establish or improve their understanding and analysis of real-estate investment trusts.

Download or read book Real Estate Finance and Investments written by Peter Linneman and published by . This book was released on 2020-02 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Capital Markets Handbook written by John C. Burch and published by Wolters Kluwer. This book was released on 2005-01-01 with total page 1458 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital Markets Handbook, Sixth Edition is the definitive desk reference for capital market professionals and a complete resource for anyone working in the financial markets field. Written by seasoned professionals in association with the SIA, Capital Markets Handbook covers the latest developments in major securities legislation, and all aspects of documentation, underwriting, pricing, distribution, settlement, immediate aftermarket trading of new issues, compliance issues, a glossary, a bibliography, and appendices containing the full text of the primary statutes and regulations. The Sixth Edition includes coverage of new developments, including compliance issues such as: New amendments to NASD Rule 2710 ("The Corporate Financing Rule") governing underwriting compensation Updates on PIPE and Registered Direct Transactions Amendments to Rule 10b-18 governing corporate repurchase of equity securities Online Dutch auction procedures in use for the Google, Inc. IPO United Kingdom Financial Service Authority guidance on conflict of interest regarding pricing and allocation issues which have been adopted by one major U.S. investment bank Amendments to Rule 105 Regulation M concerning short selling in connection with public offerings Currency conversion in settlement of a global offering NASD Rule 2790-Restriction on the Purchase and Sale of IPO equity securities NASD IPO Distribution Manager procedures for filing with NASD Corporate Financing Proposed NASD Rule 2712 concerning allocation and distribution of shares in an initial public offering A reorganized compliance chapter in a checklist format designed to ease and enhance CEO and CFO Compliance Certification required by a proposed amendment to NASD Rule 3010 (Supervision) and the adoption of Interpretive Material 3010-1 And more

Download or read book Real estate securitization and corporate strategy From bricks to bucks written by Dirk Brounen and published by Rozenberg Publishers. This book was released on 2003 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Investing 101 written by Michele Cagan and published by Simon and Schuster. This book was released on 2016 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Contains material adapted from The everything investing book, 3rd edition"--Title page verso.

Download or read book Journal of Financial Economics written by and published by . This book was released on 1991 with total page 878 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Public Real Estate Markets and Investments written by Harold Kent Baker and published by . This book was released on 2014 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real estate is typically classified as an alternative to more traditional investments such as stocks and bonds. Real estate investing involves the purchase, ownership, management, rental, or sale of real estate for profit. Real estate investments can be both income producing and non-income producing. Although real estate can produce income like a bond and appreciate like a stock, this tangible asset has several unique characteristics as well as advantages and disadvantages relative to other investment alternatives. Benefits of including real estate in a portfolio include diversification, yield enhancement, risk reduction, tax management, and inflation hedging. Unlike traditional investments, investors in real estate have the ability to influence performance. Real estate has drawbacks in that it requires management, is costly and difficult to buy, sell, and operate, and sometimes has lower liquidity. Additionally, measuring the relative performance of real estate can be challenging. The purpose of this 14-chapter book is to provide an overview and synthesis of public real estate markets and investments in a global context. The book discusses the major types and the latest trends within public real estate markets and presents the results of research studies in a straightforward manner. It has three sections: (1) foundations of public real estate, (2) public debt markets and investments, and (3) public equity markets and investments. The book should be interest to various groups including academics, practitioners, investors, and students. Readers should gain a greater appreciation of what is needed for success when investing in public real estate markets. For more information about private real estate, read Private Real Estate Markets and Investments.

Download or read book Real Estate Investment Trusts in Europe written by Ramón Sotelo and published by Springer Science & Business Media. This book was released on 2013-12-11 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shortly before of the beginning of the global financial crisis of 2008 REITs were introduced in several European countries based on their success in mature markets like the US, Australia and some Asian countries. While the history of REITs in Europe has been relatively brief, REITs are well on the way to become an industry standard as a real estate investment financial vehicle not only in Europe but throughout the developed world. This book provides both academics and decision makers an introduction to the economics of REITs beyond tax transparency, an overview of the mature REITs markets, and a closer reflection of the development of different REIT-structures in Europe including the history, regulation and markets of each country.

Download or read book The Oxford Handbook of IPOs written by Douglas Cumming and published by . This book was released on 2018 with total page 841 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive analysis of IPOs. The chapters cover the latest information on a range of fundamental questions, including: How are IPOs regulated? How are IPOs valued? How well does an IPO perform in the short and long run, and what are the drivers of performance?

Download or read book Real Estate Finance written by C. F. Sirmans and published by McGraw-Hill Companies. This book was released on 1989 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Post offering Price Performance of Closed end Funds written by Kathleen Weiss and published by . This book was released on 1989 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Journal of Health Care Finance written by and published by . This book was released on 2008 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Price Performance of Initial Public Offerings in Turkey written by Bengi Özer and published by . This book was released on 1999 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: Öz/Özet/İçindekiler CONTENTS TABLE OF CONTENTS vii LIST OF FIGURES x LIST OF TABLES xi 1. INTRODUCTION 1.1. Importance of IPOs as a Research Area 1 1.2. Purpose of the Study 2 2. LITERATURE REVIEW 5 2.1. Initial Performance of IPOs 5 2.1.1. Short Term Underpricing 5 2.1.2. Hot Issue Markets 7 2.2 Claims of Investor Irrationality 8 2.3. Alternative Equilibrium Explanations 10 2.3.1. Information Asymmetry Between Informed and Uninformed Investors 10 2.3.2. Partial Adjustment Hypothesis 11 2.3.3. Information Asymmetry Between the Underwriter and the Issuer 12 2.3.4. Monopsony Power Hypothesis 13 2.3.5. Signaling by Underwriter Reputation 13 2.3.6. Signaling by Choice of Offering Method 14 2.3.7. Underpricing as a Signal of Firm Quality 15 2.3.8. Signaling by the Amount of Equity Retained 16 2.3.9. Signaling by Third Party Certification 16 2.3.10. Implicit Insurance Hypothesis 17 2.3.11. Market Structure as a Source of Underpricing 19 2.4. International Evidence 20 3. DATA AND METHODOLOGY 23 3.1. Data and Data Collection Methods 23 3.2. Variables Used 24 3.2.1. Performance Variables 24 3.2.1.1. Raw Returns 25 3.2.1.2. Market Adjusted Returns 26 3.2.1.3. Market Adjusted Aftermarket Returns 27 3.2.2. Characteristic Variables 28 3.2.2.1. Market Related Characteristics 28 3.2.2.2. Issue Related Characteristics 28 3.2.2.3. Issuing Firm Characteristics 29 3.2.3.1. Underwriter Characteristics 30 3.3. Methodology 30 3.3.1. Documentation of Return Structures 30 3.3.2. Tests on the Presence of Abnormal Returns 31 3.3.3. Relationship Between Initial and Aftermarket Returns 32 3.3.4. Cross-sectional Differences in IPO Returns 32 3.3.5. Determinants of Initial Returns 33 4. RESULTS 35 4.1. Return Structures of IPOs 35 4.1.1. Raw Returns 35 4.1.2. Market Adjusted Returns 41 4.1.2.1. Excess-over-the market Appoach 41 4.1.2.2. Cross-sectional Regressions Method 45 4.1.3. Adjusted Aftermarket Returns 47 4.2. Relationship, Between Market Performance Masures 51 4.3. Characteristics of IPOs 54 4.3.1. Performance Variables 54 4.3.1.1. Initial Performance 54 4.3.1.2. Long Term Performance 54 4.3.2. Market Related Characteristics 55 4.3.2.1. Year of Issue 56 4.3.2.2. Indicators of Market Trend 57 4.3.2.3. Indicators of Market Volatility 58 4.3.3. Issue Related Characteristics 58 4.3.3.1. Real Offer Price 59 4.3.3.2. Place of Offer 59 4.3.3.3. Real Amount for Sale 59 4.3.3.4. Source of Equity Sold 60 4.3.3.5. Percentage of Equity Offered 60 4.3.3.6. Nature of the Issue 61 4.3.4. Issuing Firm Characteristics 61 4.3.4.1. Age at the Offer 63 4.3.4.2. Industry Classification 62 4.3.4.3. Number of Shareholders Be forethcIPO 63 4.3.5. Underwriter Characteristics 63 4:3.5.1. Identity of the Lead Underwriter 63 4.3.5.2. Number of Underwriters in an Offer 65 4.3.5.3. Relationship Between the Underw and Issuer 66 4. Cross-sectional Differences in IPO Returns 66 4.4.1. Market Related Characteristics 67 4.4.1.1. Year of Issue 67 4.4.1.1.1. Initial Returns 68 4.4.1.1.2. Adjusted After market Returns 70 4.4.1.2. Market Trend at the Time of IPO 75 4-4.2. Issue Related Characteristics 77 4.4.2.1. Nature of the Issue 77 4.4.2.2. Real Offer Price 81 4.4.2.3. Place of Offe 82 4.4.3. Issuing Firm Related Characteristics 84 4.4.4 Underwriter Characteristics 85 4.4.4.1. Identity of the Lead Underwriter 85 4.4.4.2. Number of Underwriters in an Offer 86 4.4.4.3. Relationship Between the Underwriter and Issuer 86 4.5. Determinants of Initial Returns 90 4.5.1. Total Sample 91 4.5.2. Excluding Initial Outliers 95 5. CONCLUSIONS 97 6. REFERENCES 101.