Details

The Reits (Real Estate Investment Trusts)


The Reits (Real Estate Investment Trusts)



von: Kim Hin David Ho

4,49 €

Verlag: Partridge Publishing Singapore
Format: EPUB
Veröffentl.: 26.11.2021
ISBN/EAN: 9781543767674
Sprache: englisch
Anzahl Seiten: 404

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Beschreibungen

Chapter 1 examines the significance of ‘green’ buildings on the operational and financial performance of REITs. The Chapter covers different direct real estate sectors, namely office, retail and residential, for the REITS concerned to evaluate the consistency of the results.

Chapter 2 looks at the risk neutral and non-risk neutral pricing of real estate investment trusts in Singapore (S-REITs), via comparing the average of the individual ratios (of deviation between expected and observed closing price/observed closing price), with the ratio (of standard deviation/mean) for closing prices, via the binomial options pricing tree model.

Chapter3 highlights that while the Markowitz portfolio theory (MPT) is popular in modern finance to model portfolios with maximum total returns (TRs) for a given systematic risk, the more flexible multivariate copula model is introduced that enables investors and portfolio managers to obtain the optimal portfolio.

Chapter 4 looks at a value investing framework, in which a REIT and real estate comany investment operation is deemed to be one, where a “thorough analysis”, should promise the safety of a principal and an adequate total return.

Chapter 5 examines the market reactions of Malaysia’s listed property trusts and property common stocks to corporate restructuring activities – direct real estate asset acquisitions and new listings.

Chapter 6 reports the Monetary Authority of Singapore (MAS) consultations with the Inland Revenue Authority of Singapore (IRAS) and the Ministry of Finance (MOF), to introduce the Income Tax Act (ITA) amendments, and a new temporary relief measure for real estate investment trusts (REITs) in Singapore. The Chapter also looks at the proposal by the Asian Public Real Estate Association (APREA) to the MAS, to create a private REIT structure

Chapter 7 looks at the key issues and notes on the valuation of the public real estate investment trusts (REITs) and the real estate companies, adopting several valuation metrics to value REITs on a stand-alone and a relative basis.

Chapter 8 looks at the unique Asian REIT institutional environment, pertaining to the S-REIT, while cross referencing it to that of the CapitaMall Trust (S-CMT) and the Hong Kong HK- Link REIT. Chapter 9 summarises the book’s findings and highlights the contributions and recommendations made.

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