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Analysis of the effectiveness of selected investment strategies in the REIT market investment process

Author

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  • Krzysztof Kowalke

Abstract

Capital allocation in the real estate market requires extensive knowledge and expertise. Investors can engage in this process either directly or through Real Estate Investment Trusts (REITs). While numerous REITs operate in the market, their investment strategies often exhibit only minor differences, making the selection of suitable entities for an investment portfolio challenging. This study aims to evaluate the effectiveness of selected investment strategies in the U.S. REIT market. Using data on the rates of return of individual REITs listed on public capital markets in the U.S., the returns generated by selected investment strategies were estimated. The study covers the period from 2014 to 2023. To assess the statistical significance of differences in REIT portfolio returns, standard t-tests were applied. There is a lack of research in the literature specifically addressing investment strategies in this market. The findings of this analysis can assist investors in selecting the most effective investment strategy.

Suggested Citation

  • Krzysztof Kowalke, 2025. "Analysis of the effectiveness of selected investment strategies in the REIT market investment process," ERES eres2025_251, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2025_251
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    JEL classification:

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

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