{"id":656,"date":"2020-04-28T02:10:40","date_gmt":"2020-04-27T18:10:40","guid":{"rendered":"http:\/\/localhost:8888\/?p=656"},"modified":"2025-12-28T05:03:44","modified_gmt":"2025-12-27T21:03:44","slug":"the-impact-of-reit-ratings-on-stock-price-and-shareholder-wealth","status":"publish","type":"post","link":"https:\/\/www.gssinst.org\/irer\/2020\/04\/28\/the-impact-of-reit-ratings-on-stock-price-and-shareholder-wealth\/","title":{"rendered":"The Impact of REIT Ratings on Stock Price and Shareholder Wealth"},"content":{"rendered":"\t\t
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<\/p>

Article<\/div>

The Impact of REIT Ratings on Stock Price and Shareholder Wealth<\/p>

Author<\/p>

Start Page \/ End Page<\/p>

Volume<\/p>

Issue Number<\/p>

Year<\/p>

Publication<\/p><\/div>

<\/p>

Klaus S. Beckmann<\/p>

134 \/ 146<\/p>

16<\/p>

2<\/p>

2013<\/p>

International Real Estate Review<\/p><\/div>

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Abstract<\/p>


We have analyzed the market reaction to REIT preferred stock ratings announced by Moody’s Investors Service from 1999 to 2009 that are related to four types of rating events; first time ratings, outlook changes, reviews and actual rating changes. The results suggest a significant market reaction to rating upgrades of 1.08% abnormal return, and downgrades and negative outlooks of -2.28% and -2.67% abnormal returns, respectively. Compared to the non-REIT literature, the abnormal returns are smaller in magnitude which implies a relatively smaller information asymmetry within the REIT market with diversification opportunities for global investors<\/p>

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View PDF -https:\/\/doi.org\/10.53383\/100167<\/strong><\/a><\/p>

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Keywords<\/p>

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REITs; Preferred Stock Rating; Information Asymmetry; Asset Pricing; Investment Strategy<\/p>

Back to Previous Page<\/a><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

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Author<\/p>\n

Start Page \/ End Page<\/p>\n

Volume<\/p>\n

Issue Number<\/p>\n

Year<\/p>\n

Publication<\/p>\n<\/div>\n

\n<\/p>\n

Klaus S. Beckmann<\/p>\n

134 \/ 146<\/p>\n

16<\/p>\n

2<\/p>\n

2013<\/p>\n

International Real Estate Review<\/p>\n<\/div>\n

Keywords<\/p>\n

REITs; Preferred Stock Rating; Information Asymmetry; Asset Pricing; Investment Strategy<\/p>\n

Download Entire Article.\"download-pdf-large\" <\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"article-template.php","format":"standard","meta":[],"categories":[90,89],"tags":[],"_links":{"self":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/656"}],"collection":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/comments?post=656"}],"version-history":[{"count":3,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/656\/revisions"}],"predecessor-version":[{"id":4958,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/656\/revisions\/4958"}],"wp:attachment":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/media?parent=656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/categories?post=656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/tags?post=656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}