Link to Paper

This subsection links to the study “Twenty Years of the NCREIF Property Index” by Joseph L. Pagliari, Frederich Lieblich, Mark Schaner, and James R. Webb, published in Real Estate Economics in 2001. The study examines the fundamental sources of return within the NCREIF Property Index, including initial earnings yield, dividend payout ratios, earnings growth, shifts in capitalization rates, and other factors.