Download or read book IPO and SEO Waves in Healthcare Real Estate Investment Trusts written by David B. Heywood and published by . This book was released on 2008 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Buttimer, Hyland, and Sanders (2005) find that REIT IPO waves are best explained by the capital demands hypothesis. I examine the capital demand hypothesis, the information asymmetry hypothesis, and the investor sentiment hypothesis for IPO waves in a 1978-2007 sample of healthcare real estate investment trusts (REITs). I find evidence against the capital demands hypothesis and for the information asymmetry hypothesis or the investor sentiment hypothesis. I also find that apparent inconsistencies with two methods of computing long-run abnormal returns in my sample warrant further research on whether a Fama-French model regression or a REIT-index wealth relative better explains REIT long-run abnormal returns.