Investigation of the performance of real estate investment trusts: A research on real estate investment trust in Turkey

Real Estate Investment Trusts (REITs) are institutions that hold, operate or finance real estate in their portfolios. Although they are subject to different establishment conditions and legislative provisions in each country, their main purpose is to bring small savings owners together and invest in large real estate projects. On this account they also find solutions to the financial problems for large projects and benefit from many tax advantages. The purpose of the study, between the years 2013-2017 is to measure the financial performance of publicly traded REITs in Turkey. The study consists of four parts. In the first part, the concept of REIT is introduced, its development and its types are emphasized. In the second section, from one year to the development of REITs in Turkey were discussed, and generally referred to legislation. In the third chapter, the literature study to measure the financial performance of the study, the financial ratios and the methods used to analyze the data were examined. In the last part, the obtained results are given and interpreted. At the end of the study, it is seen that the most successful sector among the years examined is the year 2014 of the year. Given the success of the companies in the sector, Ideal REIT is the best performing company in 2013, Körfez REIT in 2014, Vakıf REIT in 2015 and Panora REIT in 2017.