CRSP/Ziman Real Estate Database

The CRSP/Ziman Real Estate Data Series represents a collaborative effort between the Richard S. Ziman Center for Real Estate at the UCLA Anderson School of Management and the Center for Research in Security Prices. The REIT data series is a unique research resource whose development merges CRSP’s experience in academic-quality financial database and index creation with the Ziman Center’s expertise in real estate markets and the collection of real estate data.

Combining stock price and returns data with carefully researched information regarding the population, characteristics, and history of REITs, the CRSP/Ziman database provides firm-specific information and indexes essential to analyses of REITS.

Daily and monthly indexes are computed with both equal- and value-weighting for subsets defined by type of REIT and the types of properties predominately held by equity REITs. This database includes several qualitative measures detailing market capitalizations, concentrations, and changes in index composition. These measures are useful in evaluating the index series during periods when they were thinly populated.

By providing a specialized REIT and REIT index database, the CRSP/Ziman Real Estate Data Series allows for time-series and events studies, measurement of performance, accurate benchmarking, and in-depth analysis at both the security and industry levels.



Knowledge Base

Why are the values of Concentration Ratio (conratio) and Herfindahl-Hirschman Index (hhi) the same for the equal-weighted and value-weighted indexes in CRSP/Ziman Real Estate Data Series?

Concentration ratio (conratio) and Herfindahl Hirschman Index (hhi) are not dependent on the weighting of the stocks in a portfolio. They are dependent on the market cap of the different REITS that are eligible for the portfolio. The EW and VW indexes are created from the same universe of stocks, so the conratio and hhi values are the same.