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Short-Term REIT Performance under Pandemic Conditions

Author

Listed:
  • Shelton Weeks
  • Vivek Bharagava

Abstract

The Corona virus pandemic and the subsequent economic slowdown provide an opportunity to examine the relative performance of US REITs during a period of extreme market disruption. In this study, we investigate the short-term response of US REITs to this global event employing four market models and three distinct pandemic related event dates. In order to examine the performance across market sectors the returns on REIT indexes are considered instead of individual REITs. The empirical results provide additional evidence with respect to the performance of REITs relative to the overall market and the benefits derived from including REITs in a portfolio during adverse market conditions.

Suggested Citation

  • Shelton Weeks & Vivek Bharagava, 2021. "Short-Term REIT Performance under Pandemic Conditions," ERES eres2021_19, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2021_19
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    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2021-19
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    More about this item

    Keywords

    Black Swan; Event Study; Pandemic; REIT;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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