Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/222209
Title: AN ANALYSIS OF THE INFORMATION CONTENT OF STOCK RECOMMENDATIONS IN S-REITS
Authors: KHOO, ZI TING
Keywords: Real Estate
Sing Tien Foo
2018-2019 RE
RE
Analyst coverage
Recommendation consensus
Recommendation change
REIT performance
Information content
Issue Date: 16-May-2019
Citation: KHOO, ZI TING (2019-05-16). AN ANALYSIS OF THE INFORMATION CONTENT OF STOCK RECOMMENDATIONS IN S-REITS. ScholarBank@NUS Repository.
Abstract: This dissertation seeks to study the information content of analyst coverage in S-REITs. With the success of S-REITs in Singapore and Singapore’s ambition to be established as a leading wealth management hub, increased analyst attention will be drawn to the S-REITs sector due to increased activity. Thus, it is critical to examine whether stock analysts are able to provide valuable information regarding the performance of a particular S-REIT stock. Using a sample of S-REITs, difference in means is computed to measure the extent to which recommendation consensus gathered from the I/B/E/S platform is reflective of REIT stock performance. A multi-variate regression is subsequently carried out. The empirical results show that stock recommendations contain information content that can significantly differentiate between REIT performance, and to some extent predict future performance. However, the opposite is found for recommendation consensus during crisis periods.
URI: https://scholarbank.nus.edu.sg/handle/10635/222209
Appears in Collections:Bachelor's Theses

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