Investing in REITs: Real Estate Investment Trusts, Fourth Edition

The new Fourth Edition of the definitive handbook on investing in Real Estate Investment Trusts (REITs)

Real Estate Investment Trusts (REITs), which provide some of the best total returns in the investment world, along with above-average dividend yields and stable earnings, have become increasingly popular with both individual and institutional investors. Investing in REITs, Fourth Edition has established itself as the definitive guide to understanding this attractive asset class. The book is invaluable for investors, financial planners, and investment advisers interested in understanding REITs and REIT investment opportunities.

As their earnings and dividends are beginning to grow again after the Great Recession—and as they are in a unique position to take advantage of distressed sale opportunities—now is an excellent time for investors to consider REITs for both diversification and strong total returns. The new edition covers:

• A comprehensive history of the REIT industry
• How REITs compare with other competitive investments
• How to spot blue-chip REITs and control investment risk
• How to value individual REIT stocks, and REIT shares generally
• How to build a diversified REIT portfolio, directly or with REIT mutual funds
• Understanding the risk-and-reward dynamics of commercial real estate
• Assessing non-US REITs and how to invest in them
• Important new developments and strategies in the REIT industry

Author Ralph L. Block, who has been investing in REIT stocks for 40 years and is widely considered a leading authority on REITs, brings the historical success of Investing in REITs right up to date. This book is an essential read for both individuals and institutions who desire to invest in commercial real estate through REIT stocks.

About the Author

Ralph L. Block has been a participant in the REIT industry in various professional investment and advisory capacities since 1993, and has been investing in REIT stocks since the early 1970s. Until his semiretirement in 2005, he was a principal and senior REIT portfolio manager for Phocas Financial Corporation, a registered investment advisory firm, and is presently the owner and proprietor of Essential REIT Publishing Company, an independent advisor to, and publisher of information for, the REIT industry and its investors. From 1993 through August 2003, he was chief REIT portfolio manager with Bay Isle Financial LLC, a San Francisco, California, investment advisory firm. From 1998 through 2003, Ralph was co–portfolio manager, with William Schaff, for Undiscovered Managers REIT Fund, which earned a five-star rating from Morningstar.

Ralph is also the author of The Essential REIT, a newsletter dedicated to REITs and REIT investing, has written regular columns for REIT magazine, and writes weekly blog posts on REITs for SNL Financial, under "Block Party." He has been quoted in numerous media articles, has spoken at various investment forums, and, in recognition of his books, articles, and newsletters, received the NAREIT Industry Achievement Award in 2004.

Prior to becoming a REIT professional, Ralph practiced corporate and securities law in Los Angeles, California, for 27 years, and served as a director of various private and public companies. He is a graduate of UCLA and the UCLA School of Law, where he was on the board of editors of the UCLA Law Review.