REIT PERFORMANCE ANALYSIS: ARE OTHER FACTOR DETERMINANTS CONSTANT?

Abstract

This main focus of this paper is to propose a regression analysis for the appraisal of REIT performance. The quantitative data required for the study were extracted from the annual financial reports of AMFIRST REIT, a REIT company listed in the Bursa Securities Commission, for the period 2007 to 2013. A regression analysis on the data and the study rejected the assumption of holding other factor constant when analysing REIT performance, all factor determinants have simultaneous effect on REIT performance. The findings are useful for the REIT industry to predicting the minimum expected return from the beginning of a financial year. However, this paper is the result of the study at micro (individual) level and cannot be adopted as an aggregate for National REIT performance. There is need to extend the study to more REIT companies for an aggregate conclusion.

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