Abstract:

The aim of the study is to create an optimal portfolio from companies operating in the BIST real estate investment trust index for the period 2019–2021. For this purpose, a unique integrated model has been proposed by using SD-MABAC techniques in optimization analysis. In the study, nine financial success criteria were determined according to the literature. The importance levels of the determined financial performance criteria were calculated with SD, which is an objective prioritization technique. The analysis of the performance rankings of the companies was also made with MABAC, one of the MCDM techniques. According to the results of the study, the most important performance criterion is the financial leverage ratio, and the least important performance criterion is the net profit margin criterion. Companies that want to achieve the goal of high performance financially should first reduce their financial leverage. In addition, in the company performance evaluation, it was determined that ALGYO in 2019 and 2020, and PEGYO in 2021 were the companies with the highest financial performance. The results obtained in the study can contribute to the decision-making mechanisms in establishing a solid and strong real estate investment partnership sector.

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