The Operating Performance of REITs Conducting Open-Market Repurchases

Gow-Cheng Huang, Kartono Liano and Ming-Shiun Pan

Journal of Real Estate Portfolio Management, 2010, vol. 16, issue 1, 59-69

Abstract: Executive Summary. This study examines whether the operating performance improves following real estate investment trust (REIT) open-market stock repurchase announcements. Based on REIT repurchases announced over the 1991–2001 period, we do not find any evidence that the operating performance of REITs improves in the four years following the repurchase announcement. Furthermore, we do not find any evidence that the size of a repurchase program is positively related to future operating performance. Consequently, the announcement of open-market stock repurchases by REITs does not contain any positive information about the long-term future prospect of REITs.

Date: 2010
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/10835547.2010.12089861 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:repmxx:v:16:y:2010:i:1:p:59-69

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/repm20

DOI: 10.1080/10835547.2010.12089861

Access Statistics for this article

Journal of Real Estate Portfolio Management is currently edited by Peng Liu and Vivek Sah

More articles in Journal of Real Estate Portfolio Management from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().