To get the free app, enter your mobile phone number.
Investing in REITs: Real Estate Investment Trusts Hardcover – October 11, 2011
|New from||Used from|
Excel 2016 For Dummies Video Training
Discover what Excel can do for you with self-paced video lessons from For Dummies. Learn more.
Frequently Bought Together
Customers Who Bought This Item Also Bought
“I have enjoyed reading Ralph’s insightful and refreshing commentary on the REIT industry for years, and his REIT guide is an invaluable resource for those of us who work in the industry and also invest in REIT stocks. His extensive knowledge comes through clearly in an easy-to-follow guide for both the novice and real estate expert.”
—Robert Elms, Head of Debt & Equity Placement, Cushman & Wakefield, Inc.
Praise for Previous Editions of Investing in REITs
“For over thirty years, Ralph Block has observed and studied Real Estate Investment Trusts and has accumulated a storehouse and reservoir of knowledge and insights, which in this book he dispenses to the reader—simply, lucidly and logically. It is a must-read for anyone interested in the growing market of REITs.”
—Milton Cooper, Chairman & CEO, Kimco Realty Corporation
“Ralph Block has long advocated the merits of investing in REITs, and investors who have heeded his advice have profited handsomely. By making complicated issues accessible for investors of all types, Investing in REITs provides a great introduction to an investment vehicle that offers solid returns, moderate risk, and good diversification benefits.”
—Mike Kirby, Cofounder, Green Street Advisors
“In a clear, direct, and authoritative manner, Ralph Block provides and opens an extensive and illuminating window on investing in real estate investment stocks. He fully explains the story of REITs, flags their investment attributes, and underlines their role in a diversified portfolio. I highly recommend it to the investor considering REITs for the first time, as well as the investor with some knowledge about and experience with real estate stocks.”
—Steven A. Wechsler, President and CEO, The National Association of Real Estate Investment Trusts
“REIT investing has always been something of a ‘no-man’s land’ in the investment world. Common stock investors often look at REITs as real estate while real estate investors consider REITs to be stocks. Ralph Block has written a wonderful book that sheds light on an asset class that is becoming an increasingly important building block for the well-diversified portfolio.”
—Roger C. Gibson, CFA, Author of Asset Allocation: Balancing Financial Risk
“The well-informed author has written the most complete and easy-to-read book about real estate investment trusts yet. The stunning graphics are matched by excellent detailed information concisely arranged.”—The Los Angeles Times
“Ralph Block has made the world of REITs accessible to all. This is a superb book for every investor.”
—Tom Gardner, cofounder of The Motley Fool
“Finally, a book that demystifies REIT s for both armchair investors and seasoned professionals. Investing in REITs by Ralph Block is a balanced, clearly written guide that fills a major void in today’s investment literature.”
—Jonathan Litt, Senior Real Estate Analyst, Salomon Smith Barney
“Whether you’re an individual or institutional investor, you won’t find a better primer on REIT investing. Ralph Block takes the complex issues that must be addressed to produce above-average results when investing in REITland, and makes them simple and easy to understand. A must for every serious REIT investor’s library, and a fun read, to boot.”
—Geoffrey Dohrmann, Publisher and Editor in Chief, Institutional Real Estate Securities
“Investing in REITs is a must-read for anyone wishing to gain a better understanding of this thriving sector of the capital markets. Given the continued transformation of private real estate to the public markets, this book is an essential resource for students, individual and institutional investors, and anyone else interested in understanding the REIT market.”
—David J. Hartzell, Distinguished Professor of Finance and Real Estate and Director of the Real Estate Program, The Kenan-Flager Business School, The University of North Carolina at Chapel Hill
From the Inside Flap
Real Estate Investment Trusts (REITs) are companies that invest directly in commercial real estate properties, but whose shares trade as stocks on the major exchanges. As the interest in REITs grows, so does the need for an in-depth, reliable, yet accessible resource for understanding these investments. The newly revised and updated Investing in REITs: Real Estate Investment Trusts, Fourth Edition does exactly that.
Widely considered the classic book on real estate investment trusts for the sophisticated investor, this new edition provides up-to-date information and discusses industry trends. Written by REIT investment pro Ralph L. Block, it looks at all the key developments and strategies that have taken place in the REIT industry over the last several years, presenting invaluable information and guidance on how to value individual REITs (as well as REIT shares generally), the risk-and-reward dynamics of commercial real estate, and how to spot blue-chip REITs and control investment risk. In addition, an entirely new chapter, written by industry veterans Kenneth Campbell and Steven Burton, looks at non-U.S. REITs and options for investing in them.
REIT investing has become increasingly popular in the aftermath of the real estate crisis. A liquid, dividend-paying way to participate in the real estate market, investing in REITs has a long track record of providing excellent investment returns. Their consistency, together with the low correlation of REIT stock prices with the prices of other asset classes, make such investments a unique opportunity.
An essential read for both individualsinvestors, financial planners, and investment advisorsand institutions interested in investing in commercial real estate through REIT stocks, Investing in REITs continues to set the bar for REIT information and advice.
Top Customer Reviews
The writing is easy to follow even though the subject matter can be complex at times. Although it is written so a beginner can understand, it is not just for novices. This is a valuable reference work for seasoned REIT investors as well.
The book is divided into four well-organized sections:
1) The general characteristics of REITs, how they compare to other investments, how legislation has molded REITs (updated with the latest developments), and the types of REITS and the cycles they go through.
2) The history of REITs and their performance, as well as some common myths about REITs debunked.
3) Ways to value REITs and how to think about them in your portfolio. This section includes the invaluable new chapter on global REIT investing -- how the REIT revolution spread internationally, and the practicalities of investing outside the US.
4) The risks of REIT investing and the author's vision of the future of REITs.
If you are new to REITs and want to learn more about them, or if you are an experienced REIT investor looking for ideas, or if you are looking for the definitive REIT reference, this book offers a clear, concise, informative solution. Highly recommended!
And of course the period from the real estate boom of thru 2007 through the financial crisis of 2008 and current "Great Recession" is of great interest to current investors. So I'm glad to see a new edition to bring REITs up to date.
The crisis certainly hurt REITs in the short run, but in the past few years it's helped to show REITs are better able to function in a crisis than private real estate companies, because they cannot raise public equity cash.
This is an important investment class for everyone who desires current income -- which keeps up with inflation -- rather than speculative capital gains that look increasingly improbable for years to come.
Read this book closely and you'll practically be an expert on equity REITs in the United States. It does not cover mortgage REITs, because they are different kind of investment altogether.
Most Recent Customer Reviews
This book should be called "What is a REIT." I didn't see anything about actually investing in REITs. Read morePublished 2 months ago by A. Justi
Very thorough. Might be worth 5 stars for those informed in real estate. Too complex for me, though, and I hold two masters' degrees. Read morePublished 5 months ago by J Stanley
This book is not a fourth edition but appears to be a first edition. Upon close inspection, this book was published in 2002, not 2011 as I ordered. The ISBN also is different.Published 15 months ago by Amazon Customer
not bad, I have learned a lot.
Burt a lot of the book is dedicated to todays REITs and the book is rather old
I like the book but I have some complain... the real state part of the book is just perfect and lighting. Read morePublished 19 months ago by doalsx
If you a relatively new to real estate and finance this may be a good book for you. If you already invest or if you have an understanding of other areas of real estate it is too... Read morePublished on June 9, 2014 by cmichel