Public versus private pricing of real estate and fundamental value discovery

Fil: Nakab, Sebastián. Universidad de San Andrés. Departamento de Economía; Argentina.

Detalles Bibliográficos
Autor principal: Nakab, Sebastián
Otros Autores: Nakab, Alejandro
Formato: Tesis Tesis de maestría updatedVersion
Lenguaje:Inglés
Publicado: Universidad de San Andrés. Departamento de Economía 2021
Acceso en línea:http://hdl.handle.net/10908/18467
Aporte de:
Repositorio Digital - Universidad de San Andrés (UdeSa) de Universidad de San Andrés
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spelling I37-R143-10908-184672025-01-20T15:22:03Z Public versus private pricing of real estate and fundamental value discovery Nakab, Sebastián Nakab, Alejandro Fil: Nakab, Sebastián. Universidad de San Andrés. Departamento de Economía; Argentina. This paper examines the relationship between Real Estate Investment Trust ("REIT") stock prices and the value of direct real estate owned by REITs for the past 8 years. Using panel VAR models, we argue and find evidence that REIT prices explain private market valuations and can be used as a leading indicator of nominal cap rate movements and, effectively, net asset values. In fact, we show that no new information on values that affects REITs trading performance is baked into research estimates of private market valuations. We are able to get to these conclusions based on weekly data from Green Street Advisors (Wall Street's most respected real estate research firm) on nominal and implied capitalization rates as well as net asset values from November, 2011 through August, 2019. 2021-08-18T20:53:04Z 2021-08-18T20:53:04Z 2019-09 Tesis info:eu-repo/semantics/masterThesis info:ar-repo/semantics/tesis de maestría info:eu-repo/semantics/updatedVersion Nakab, S. (2019). Public versus private pricing of real estate and fundamental value discovery. [Tesis de maestría, Universidad de San Andrés. Departamento de Economía]. Repositorio Digital San Andrés. http://hdl.handle.net/10908/18467 http://hdl.handle.net/10908/18467 eng info:eu-repo/semantics/openAccess https://creativecommons.org/licenses/by-nc-nd/4.0/ application/pdf application/pdf Universidad de San Andrés. Departamento de Economía
institution Universidad de San Andrés
institution_str I-37
repository_str R-143
collection Repositorio Digital - Universidad de San Andrés (UdeSa)
language Inglés
description Fil: Nakab, Sebastián. Universidad de San Andrés. Departamento de Economía; Argentina.
author2 Nakab, Alejandro
author_facet Nakab, Alejandro
Nakab, Sebastián
format Tesis
Tesis de maestría
Tesis de maestría
updatedVersion
author Nakab, Sebastián
spellingShingle Nakab, Sebastián
Public versus private pricing of real estate and fundamental value discovery
author_sort Nakab, Sebastián
title Public versus private pricing of real estate and fundamental value discovery
title_short Public versus private pricing of real estate and fundamental value discovery
title_full Public versus private pricing of real estate and fundamental value discovery
title_fullStr Public versus private pricing of real estate and fundamental value discovery
title_full_unstemmed Public versus private pricing of real estate and fundamental value discovery
title_sort public versus private pricing of real estate and fundamental value discovery
publisher Universidad de San Andrés. Departamento de Economía
publishDate 2021
url http://hdl.handle.net/10908/18467
work_keys_str_mv AT nakabsebastian publicversusprivatepricingofrealestateandfundamentalvaluediscovery
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