caa a22 4500 445316705 CHVBK 20180317142650.0 cr unu---uuuuu 170323e20110501xx s 000 0 eng 10.1007/s11146-009-9196-9 doi (NATIONALLICENCE)springer-10.1007/s11146-009-9196-9 REIT Short Sales and Return Predictability [Elektronische Daten] [Benjamin Blau, Matthew Hill, Hao Wang] We examine REIT short sale transactions and show REITs are shorted less frequently than non-REITs. Results also show short sellers are less able to predict negative future returns for REITs, relative to non-REITs, which is consistent with increased pricing efficiency for REITs and suggests REIT assets are more transparent. In a broader context, these results suggest differences in transparency across asset types influence the effectiveness of short selling. Results showing REIT short sellers are contrarian imply traders target REITs that are performing well instead of underperforming REITs, suggesting restrictions on REIT short sales should be re-evaluated. Springer Science+Business Media, LLC, 2009 REIT nationallicence Short sale nationallicence Return predictability nationallicence Price efficiency nationallicence Blau Benjamin Department of Economics and Finance, Huntsman School of Business, Utah State University, 3565 Old Main Hill, 84322-3530, Logan, UT, USA aut Hill Matthew Department of Finance, School of Business, University of Mississippi, 38677, University, MS, USA aut Wang Hao Department of Finance, School of Business, University of Mississippi, 38677, University, MS, USA aut The Journal of Real Estate Finance and Economics Springer US; http://www.springer-ny.com 42/4(2011-05-01), 481-503 0895-5638 42:4<481 2011 42 11146 https://doi.org/10.1007/s11146-009-9196-9 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s11146-009-9196-9 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Blau Benjamin Department of Economics and Finance, Huntsman School of Business, Utah State University, 3565 Old Main Hill, 84322-3530, Logan, UT, USA aut NATIONALLICENCE 700 1- Hill Matthew Department of Finance, School of Business, University of Mississippi, 38677, University, MS, USA aut NATIONALLICENCE 700 1- Wang Hao Department of Finance, School of Business, University of Mississippi, 38677, University, MS, USA aut NATIONALLICENCE 773 0- The Journal of Real Estate Finance and Economics Springer US; http://www.springer-ny.com 42/4(2011-05-01), 481-503 0895-5638 42:4<481 2011 42 11146 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer