Abstract

Real Estate Investment Trusts (REITs) are financial institutions that provide financial capital to undertakings that will invest in large scale projects related to real estate. Real Estate Investment Trusts, or more commonly known as REITs, promise investors a low risk and high yield in the long term as an investment instrument. REITs do not act as contractors themselves. By providing funds for the construction of large projects, the company sells shares and pays dividends to investors as it provides income from trading and leasing activities at the end of the project. In this study, the data of 33 REITs traded in Borsa Istanbul in 2018 were analyzed and 24 different data which most of them not used in previous studies (financial ratios and other financial data) belonging to 28 REITs that provide data continuity were evaluated with TOPSIS method. As a result of the study, performance scores of each REIT were determined and a financial performance ranking for 28 REITs was established.