Factors Influencing Stock Returns Of Real Estate And Property Companies Listed On The Indonesian Sharia  Stock Index (Issi) For The 2022–2025 Period

Nuril Hasanah; Evan Stiawan; Kustin Hartini

doi:10.63922/ijebir.v5i04.5597

Nuril Hasanah Fatmawati Sukarno State Islamic University Bengkulu
Evan Stiawan Fatmawati Sukarno State Islamic University Bengkulu
Kustin Hartini Fatmawati Sukarno State Islamic University Bengkulu

DOI: https://doi.org/10.63922/ijebir.v5i04.5597

Keywords: Return on Assets, Debt-to-Equity Ratio, Current Ratio, Stock Return, ISSI

Abstract

This study aims to analyze the partial and simultaneous effects of ROA, DER, and CR on stock returns for real estate and property companies listed on the Indonesian Sharia Stock Index (ISSI) during the 2022–2025 period. The study employs a quantitative approach with an associative research design. Secondary data specifically annual financial reports published via the Sharia Securities List (DES) were utilized. A purposive sampling method was used for sample selection. The population consisted of all financial report data from real estate and property companies, with a final sample size of 38 companies. Hypothesis testing was conducted using Multiple Linear Regression, supported by Classical Assumption Tests, the t-test (partial), the F-test (simultaneous), and the Coefficient of Determination. The results indicate that ROA has a positive and significant partial effect on stock returns, whereas DER and CR have negative and significant partial effects on stock returns. Simultaneous analysis reveals that ROA, DER, and CR collectively exert a significant influence on stock returns for real estate and property companies.

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