@article{bdedcea87ce140cdb6041e201326c352,
title = "The Conditional CAPM and Time Varying Risk Premium for Equity REITs",
author = "Mohammad Najand and Lin, {Crystal Yan} and Elizabeth Fitzgerald",
note = "23 Pages Posted: 12 Apr 2007 Given the recent much interest in REITs, we investigate if REITs have provided investors with superior risk/return trade off. Utilizing a conditional CAPM, we find that equity REITs have outperformed the market with an average abnormal annual return of 2.25% with a low time-varying beta of around .24 during June 1995 to December 2003 period.",
year = "2007",
month = apr,
day = "12",
language = "American English",
journal = "Default journal",
}