The Restless Urban Landscape of Housing Financialization: Geographies of Residential Real Estate Investment Trust Expansion in Germany and the United States

The expansion of Residential Real Estate Investment Trusts (R-REITs) represents an important frontier in the financialization of housing and cities. This paper advances the literature on institutional real estate investment and corporate landlordism by analyzing how and where the 15 largest, publicly-listed R-REITS and REIT-like funds in Germany...

In Real Estate Investment We Trust: State De-Risking and the Ownership of Listed US and German Residential Real Estate Investment Trusts

 Real estate investment trusts (REITs) have been around since 1960 but have only become major players in housing markets in the last twenty years. The current and ongoing wave of residential REIT (R-REIT) expansion has attracted significant scholarly and broader public interest. This article examines how real estate, finance, and the state are...

The Impact of Misvaluation in the REIT Sector

By using the decomposing market-to-book model and the residual income model to estimate misvaluation, we find empirical evidence supporting the proposition that misvaluation has an impact on the financing decisions and liquidity management of REITs. Regarding the financing decisions, REITs experiencing a high increase in their stock prices will...