Empirical Evidence on the Performance of Real Estate Investment Trusts and Shareholders’ Wealth Effect Following Issuance of an Seo: The South African Context

O.D. Ajayi and O. Akinsomi

AfRES from African Real Estate Society (AfRES)

Abstract: The purpose of the paper is to examine and analyze the performance of South African Real Estate Investment Trusts (SAREITs) with a view to enhancing investment decision making and ultimately shareholders’ wealth. Unbalanced data (2007 – 2017) of 37 listed SAREITs will be retrieved and analyzed from the I-Net (BFA) McGreggor database using the Abnormal Returns, Cumulative Average Abnormal Return (CAAR); and Buy and Hold Abnormal Returns (BHAR) over a 101-day event window period. This paper intends to add to the international REIT research and literature by exploring new evidence behind performance of REITs following issuance of Secondary Equity Offerings (SEOs). The analysis covers a period of ten (10) years; as such, becomes robust for potential investment decision making

Keywords: REITs; Secondary Equity Offerings (SEOs); shareholder wealth effect (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2018-09-01
New Economics Papers: this item is included in nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:afr:wpaper:afres2018_116

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