Investigating the factors that affect stock returns of the real estate investments trusts

In the finance literature, stock market has received great attention. Macroeconomic factors that have an impact on stock market have been the subject of many studies and still continue to be studied in finance literature. The purpose of this study is to investigate the factors that affect stock returns of Real Estate Investment Trusts (REITs) that are listed in Borsa Istanbul. The sample includes 16 REITs during 2010:2 – 2018:6 period. In the regression model used in the study, the dependent variable is REITs stocks returns, Housing Price Index and Borsa Istanbul 100 Index are independent variables. The results indicate that Borsa Istanbul 100 has a significant impact on REITs Stock returns; while Housing Price Index has no significant impact on REIT Stock returns. Keywords: Borsa Istanbul, real estate, real estate ınvestment trusts, housing price ındex, regression analysis