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Comparing Lodging Reits Using Dupont Analysis: Evaluating Shareholder Equity, John Richard Kane Pellika

UNLV Theses, Dissertations, Professional Papers, and Capstones

This research paper compares lodging REITs using DuPont analysis. The study examined United States publicly traded lodging REITs’ balance sheets, income statements, and cash flow statements between the quarterly periods of 12/31/1997 to 12/31/2005. Lodging REITs have to adhere to the REIT status guidelines, 90 percent of their taxable income must be distributed as dividends to shareholders and at least 75 percent of their income must come from real estate. Lodging REITs do not have government requirements on how a firm must efficiently manage its operations through financial leverage. The results indicate that there is a disparity between individual lodging …