NO.PZ2018053101000041
问题如下：
Which of the following statements is true for REITs?
选项：
A.According to GAAP, equity REITs are exempt from reporting earnings per share. B.Though equity REIT correlations with other asset classes are typically moderate, they are highest during steep market downturns. C.The REIT corporation pays taxes on income, and the REIT shareholder pays taxes on the REIT’s dividend distribution of after-tax earnings解释：
B is correct. Real estate investments, including REITs, provide important portfolio benefits due to moderate correlation with other asset classes. However, there are periods when equity REIT correlations with other securities are high, and their correlations are highest during steep market downturns.
A is incorrect because equity REITs, like other public companies, must report earnings per share based on net income as defined by GAAP or IFRS.
C is incorrect because REITs can avoid this double taxation. A REIT can avoid corporate income taxation by distributing dividends equal to 90%–100% of its taxable net rental income. This ability to avoid double taxation is the main appeal of the REIT structure.
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