Investing In Reits, Fourth Edition: Real Estate Investment Trusts
商品資訊
系列名：Bloomberg
ISBN13：9781118004456
出版社：John Wiley & Sons Inc
作者：Block
出版日：2011/09/23
裝訂／頁數：精裝／448頁
規格：24.1cm*15.9cm*3.8cm (高/寬/厚)
版次：4
商品簡介
Real Estate Investment Trusts (REITs), which provide some of the best total returns in the investment world, along with above-average dividend yields and stable earnings, have become increasingly popular with both individual and institutional investors. Investing in REITs, Fourth Edition has established itself as the definitive guide to understanding this attractive asset class. The book is invaluable for investors, financial planners, and investment advisers interested in understanding REITs and REIT investment opportunities.
As their earnings and dividends are beginning to grow again after the Great Recessionand as they are in a unique position to take advantage of distressed sale opportunitiesnow is an excellent time for investors to consider REITs for both diversification and strong total returns. The new edition covers:
- A comprehensive history of the REIT industry
- How REITs compare with other competitive investments
- How to spot blue-chip REITs and control investment risk
- How to value individual REIT stocks, and REIT shares generally
- How to build a diversified REIT portfolio, directly or with REIT mutual funds
- Understanding the risk-and-reward dynamics of commercial real estate
- Assessing non-US REITs and how to invest in them
- Important new developments and strategies in the REIT industry
Author Ralph L. Block, who has been investing in REIT stocks for 40 years and is widely considered a leading authority on REITs, brings the historical success of Investing in REITs right up to date. This book is an essential read for both individuals and institutions who desire to invest in commercial real estate through REIT stocks.
作者簡介
Ralph L. Block, has been an active participant in the REIT industry for four decades, as an individual investor, investment advisor, professional money manager, author, publisher, and consultant. Mr. Block is currently the owner and proprietor of Essential REIT Publishing Co. For his many contributions to the REIT industry, Block received the 2004 Industry Achievement Award from the National Association of Real Estate Investment Trusts (NAREIT).
目次
Acknowledgments.
Part I: Meet the REIT.
Chapter 1: REITs: What They Are and How They Work.
Types of REITs.
General Investment Characteristics.
Higher Current Returns.
Summary.
Chapter 2: REITs versus Competitive Investments.
Bonds.
Convertible Bonds.
Preferred Stocks.
Other High-Yielding Equities.
Other Real Estate Investment Vehicles.
Summary.
Chapter 3: Today's REITs.
The First REIT.
The Tax Reform Act of 1986.
UPREITs and DownREITs.
REIT Modernization Act and “RIDEA”.
Lending REITs versus Ownership REITs.
Expansion of REIT Property Sector Offerings.
Summary.
Chapter 4: Property Sectors and Their Cycles.
Ups and Downs.
Property Sectors.
Summary.
Part II: History and Mythology.
Chapter 5: REITs: Mysteries and Myths.
Changing Attitudes toward REITs.
Myths about REITs.
Summary.
Chapter 6: 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.
Recent Trends.
Summary.
Part III: Investing in REITs Intelligently.
Chapter 7: 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.
Summary.
Chapter 8: Searching for Blue Chips.
Investment Styles.
Growth REITs.
Value or “Turnaround” REITs.
Bond-Proxy REITs.
The Virtues of Blue-Chip REITs.
Access to Capital – and its Benefits.
The importance of Allocating Capital Wisely.
Summary.
Chapter 9: 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.
Summary.
Chapter 10: 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.
Summary.
Chapter 11 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.
The Long-Term Evidence Supporting Investments in Global Real Estate Securities.
Managing a Gobal Real Estate Securities Portfolio.
The Practicalities of Investing Overseas for the Individual Investor.
Part IV: Risks and Future Prospects.
Chapter 12: What Can Go Wrong?
Issues Affecting All REITs.
Problems Affecting Individual REITs.
Summary.
Chapter 13: 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.
Summary.
Resources.
Appendix A: Death and Taxes.
Appendix B: Case Study: FFO, AFFO, FAD and CAD.
Appendix C: Cost of Equity Capital.
Appendix D: REIT Portfolio Management.
Appendix E: Largest Global Real Estate Companies as of December 2010.
Glossary.
About the Author.
About the Contributors.
Index.
購物須知
外文書商品之書封，為出版社提供之樣本。實際出貨商品，以出版社所提供之現有版本為主。部份書籍，因出版社供應狀況特殊，匯率將依實際狀況做調整。
無庫存之商品，在您完成訂單程序之後，將以空運的方式為你下單調貨。為了縮短等待的時間，建議您將外文書與其他商品分開下單，以獲得最快的取貨速度，平均調貨時間為1~2個月。
為了保護您的權益，「三民網路書店」提供會員七日商品鑑賞期(收到商品為起始日)。
若要辦理退貨，請在商品鑑賞期內寄回，且商品必須是全新狀態與完整包裝(商品、附件、發票、隨貨贈品等)否則恕不接受退貨。