Abstract: An Analysis of the Erosion of Shareholder Equity among Short-Term Real Estate Investment Trusts

Brian M. Neuberger and Michael A. Hughes

Journal of Financial and Quantitative Analysis, 1976, vol. 11, issue 4, 549-549

Abstract: The shareholder equities of most construction lending Real Estate Investment Trusts (REITs) have been rapidly eroded by massive losses. Some trusts, however, have maintained a reasonable degree of stability. Our objective was to statistically analyze variations in the stability of shareholder equity to obtain insights into the operation of the REITs and to suggest possible causal relationships for their lower overall performance.

Date: 1976
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