Portfolio diversification through timber real estate investment trusts: A cointegration analysis
Publication
, Journal Article
La, L; Mei, B
Published in: Forest Policy and Economics
January 1, 2015
Investors who are interested in long-term investments have regarded timberland as an advantageous asset class. The formation of timber real estate investment trusts (REITs) has offered both individual and institutional investors more options to diversify their portfolios through securitized timberlands. Nevertheless, different mixes of REIT stocks will yield various degrees of volatility for the portfolio's performances. The cointegration analyses in this study show that there are no general trends among the historical timber REIT stock prices and the S&P 500 index. Therefore, there is diversification potential in the long run with each timber REIT (except Plum Creek) considered as a unique candidate.
Duke Scholars
Published In
Forest Policy and Economics
DOI
ISSN
1389-9341
Publication Date
January 1, 2015
Volume
50
Start / End Page
269 / 274
Related Subject Headings
- Forestry
- 4104 Environmental management
- 3801 Applied economics
- 3007 Forestry sciences
- 1605 Policy and Administration
- 1402 Applied Economics
- 0705 Forestry Sciences
Citation
APA
Chicago
ICMJE
MLA
NLM
La, L., & Mei, B. (2015). Portfolio diversification through timber real estate investment trusts: A cointegration analysis. Forest Policy and Economics, 50, 269–274. https://doi.org/10.1016/j.forpol.2014.07.003
La, L., and B. Mei. “Portfolio diversification through timber real estate investment trusts: A cointegration analysis.” Forest Policy and Economics 50 (January 1, 2015): 269–74. https://doi.org/10.1016/j.forpol.2014.07.003.
La L, Mei B. Portfolio diversification through timber real estate investment trusts: A cointegration analysis. Forest Policy and Economics. 2015 Jan 1;50:269–74.
La, L., and B. Mei. “Portfolio diversification through timber real estate investment trusts: A cointegration analysis.” Forest Policy and Economics, vol. 50, Jan. 2015, pp. 269–74. Scopus, doi:10.1016/j.forpol.2014.07.003.
La L, Mei B. Portfolio diversification through timber real estate investment trusts: A cointegration analysis. Forest Policy and Economics. 2015 Jan 1;50:269–274.
Published In
Forest Policy and Economics
DOI
ISSN
1389-9341
Publication Date
January 1, 2015
Volume
50
Start / End Page
269 / 274
Related Subject Headings
- Forestry
- 4104 Environmental management
- 3801 Applied economics
- 3007 Forestry sciences
- 1605 Policy and Administration
- 1402 Applied Economics
- 0705 Forestry Sciences