Investing in REITs Real Estate Investment Trusts

ISBN-10: 1118004450

ISBN-13: 9781118004456

Edition: 4th 2011

Authors: Ralph L. Block

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The consistency of REITs' earnings and their high dividend yields, together with the low correlation of REIT stock prices with prices of other asset classes, make real estate investment trusts a unique opportunity for investors. Drawing on more than thirty years of successful investing experience with REITs, Ralph L. Block has created the ultimate REIT guide. This fully updated fourth edition explains the ins and outs of this attractive asset class for investors, as well as financial planners and investment advisers, to find what they need to know. The new edition covers the changes in the real estate market and how the volatility of commercial real estate prices can affect REITs. This new edition offers the following: How to spot blue-chip REITs and control investment risk How REITs compare with other investments How to build a diversified REIT portfolio, directly or with REIT mutual funds Understanding the risk-and-reward dynamics of commercial real estate How to invest in non-US REITs Important new developments and strategies in the REIT industry
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Book details

List price: $36.99
Edition: 4th
Copyright year: 2011
Publisher: John Wiley & Sons, Limited
Publication date: 10/14/2011
Binding: Hardcover
Pages: 448
Size: 6.25" wide x 9.50" long x 1.50" tall
Weight: 1.848
Language: English

Meet the REIT
REITs: What They Are and How They Work
Types of REITs
General Investment Characteristics
Higher Current Returns
REITs versus Competitive Investments
Convertible Bonds
Preferred Stocks
Other High-Yielding Equities
Other Real Estate Investment Vehicles
Today's REITs
The First REIT
The Tax Reform Act of 1986
REIT Modernization Act and RIDEA
Lending REITs versus Ownership REITs
Expansion of REIT Property Sector Offerings
Property Sectors and Their Cycles
Ups and Downs
Property Sectors
History and Mythology
REITs: Mysteries and Myths
Changing Attitudes toward REITs
Myths about REITs
A History of REITs and REIT Performance
The 1960s: Infancy
The 1970s: Adolescence and Turbulence
The 1980s: Overbuilding-The Troll Under the Bridge
The 1990s: The Modern REIT Era-Plus More Growing Pains
2000 to 2007: Credibility and Market Acceptance
2007 through 2010: REITs Survive the Great Recession
Recent Trends
Investing Intelligently in REITs
REITs: Growth and Value Creation
The Significance of FFO and AFFO
The Dynamics of FFO/AFFO Growth
Internal Growth
How to Build Internal Growth into a Lease
Other Ways to Generate Internal Growth and to Create Shareholder Value
External Growth
More External Growth Avenues
Searching for Blue Chips
Investment Styles
Growth REITs
Value or "Turnaround" REITs
Bond-Proxy REITs
The Virtues of Blue-Chip REITs
The Importance of Allocating Capital Wisely
The Quest for Investment Value
The Investor's Dilemma: Buy-and-Hold versus Trading
The Buy-and-Hold Strategy
REIT Stock Valuation
Valuing REITs as a Group
Building a REIT Portfolio
How Much of a Good Thing Do You Want?
Diversification among REITs
Toward a Well-Balanced Portfolio
How to Get Started
Investing in Global REITs and Property Companies
How the U.S. REIT Revolution Spread around the Globe
Mapping the Size of Global Property Stock Markets
Managing a Global Real Estate Securities Portfolio
The Practicalities of Investing Overseas for the Individual Investor
A Summary: Stocks for All Investment Seasons
The Long-Term Evidence Supporting Investments in Global Real Estate Securities
Risks and Future Prospects
What Can Go Wrong?
Issues Affecting All REITs
Problems Affecting Individual REITs
Tea Leaves: Some Thoughts about the Future
Additional Real Estate Owners Will "REITize"
Increasing Investor Demand for REITs
Larger REITs: Is Bigger Really Better?
Additional New Trends
So Much More to Come
Death and Taxes
Case Study: FFO, AFFO, FAD, and CAD
Cost of Equity Capital
REIT Portfolio Management
Largest Global Real Estate Companies as of December 2010
About the Author
About the Contributors
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