Real estate investment trusts in Turkey: Structure, analysis, and strategy

Ali Hepsen; Murat G. Berberoglu; Olgun Aydin

doi:10.17261/pressacademia.2017.508

Real estate investment trusts in Turkey: Structure, analysis, and strategy

Abstract

Purpose-Aim of this study is to make the determinations related to the problems mentioned in the REIT sector in Turkey, to offer a solution for this issue, and to ensure the classification in the sector by adhering to the financial data of the REITsMethodology-Financial data set of the REITs was firstly standardized by using median instead of mean. Then, the scoring was performed according to defined coefficients. After that normality test of the obtained scores was performed, the area of each score under standard normal distribution curve was calculated and the scores were moved to the 0-100‎range.‎Finally,‎scores‎were‎collected‎under‎5‎groups‎as‎“Very‎good,‎Good,‎Not‎Bad,‎Bad‎and‎Very‎Bad”‎by‎using‎k-means algorithm. Clustering were made on R Studio.Findings-Our analyses conducted that REITs traded on the Istanbul Stock Exchange are divided into two subgroups depending on their financial data.Conclusion-It will be important the REITs, in the sub-group especially in terms of the score distribution, to diversify their portfolio by extending their asset investments, to stabilize dividend payments and to take steps on institutionalization so that they are equivalentto REITs in the super-group.

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Authors (3)

Ali Hepsen
Murat G. Berberoglu
Olgun Aydin dr
- Mimar Sinan University

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DOI:: Digital Object Identifier (open in new tab) 10.17261/pressacademia.2017.508
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Category:: Articles
Type:: artykuły w czasopismach
Published in:: Journal of Business, Economics and Finance no. 6, pages 191 - 199,
ISSN:
Language:: English
Publication year:: 2017
Bibliographic description:: Hepsen A., Berberoglu M. G., Aydin O.: Real estate investment trusts in Turkey: Structure, analysis, and strategy// Journal of Business, Economicsand Finance -Vol. 6,iss. 2 (2017), s.191-199
DOI:: Digital Object Identifier (open in new tab) 10.17261/pressacademia.2017.508
Verified by:: Gdańsk University of Technology