Author: Yougou Liang, Michael J. Seiler, and Arjun Chatrath

Start Page: 87
End Page: 98
Volume: 16
Issue Number: 1
Year: 1998
Publication: Journal of Real Estate Research

Abstract: This study examines the ability of existing futures contracts to hedge the returns on real estate investment trusts (REITs). The results from various hedging strategies suggest that existing futures contracts do not provide the means to effectively hedge REIT returns. REITs could remain unhedgeable until futures contracts written specifically on REITs are developed.