| Real Estate Investment Trust (REIT) - A real estate investment trust (REIT) is a company dedicated to owning and, in most cases, operating income-producing real estate, such as apartments, shopping centers, offices and warehouses. Some REIT's also engage in financing real estate. Importantly, to be a REIT a company is legally required to pay virtually all of its taxable income (90 percent) to its shareholders every year (see below for all REIT's requirements). A REIT may deduct the dividends paid to the shareholders from its corporate tax bill so long as the company's assets are primarily composed of real estate held for the long term, the company's income is mainly derived from real estate, and the company pays out at least 90 percent of its taxable income to shareholders. The main benefit of being a REIT is one level of taxation. The main limitation of being a REIT is a restriction on earnings retained by the company. For a REIT to grow, capital must come from money raised in the investment marketplace as well as money generated internally Naturally this means that from time to time the company will go to the capital markets with equity or debt to generate cash for investment. Historically REIT's have been good dividend payers and additionally were able to generate extraordinary income from the sale of appreciated assets. Since 2008 this has not been the case and only the top notch companies can generate large dividends consistently--and there are only minor gains on sales of properties. Additionally many REIT's have gone out of business. REIT's do offer opportunities for capital gains on the securities and we hope in the future this will be a better opportunity than it has been in the last couple of years. The quarterly dividends shown below represent the most recent declared and paid dividends---and are extrapolated times 4 for the annual yield. Debt/Equity ratios below 1 are in green and above 3 are in red. We consider below 1 to be ideal and above 3 potentially problematic in a difficult economy. Mortgage REITs are listed as N/A as their financials are substantially different than other REITs. Clicking on the ticker symbol will take you to the company website in a new window Distribution information updated Daily |
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| Brief Descriptions From Company Websites In Process Acadia Realty Trust Acadia Realty Trust (NYSE: AKR), is a REIT specializing in the acquisition, re-development and operation of retail and urban mixed-use properties. We focus on acquiring and redeveloping properties located in dense urban or major metropolitan markets and other high barrier to entry markets. Acadia currently owns or has ownership interest in, and operates a portfolio totaling over 10 million square feet across the United States Agree Realty Trust Agree Realty Corporation, a real estate investment trust (REIT), engages in the ownership, development, acquisition, and management of retail properties, which are primarily leased to national and regional retail companies in the United States. As of December 31, 2009, its portfolio consisted of 73 properties, including 61 freestanding net leased properties and 12 community shopping centers located in 16 states containing approximately 3.5 million square feet of gross leasable area. The company has elected to be treated as a REIT under the Internal Revenue Code. As a REIT, the company is not subject to federal income tax to the extent that it distributes at least 90% of its taxable income to its stockholders. Alexanders Inc Alexanders, Inc., a real estate investment trust (REIT), engages in leasing, managing, developing, and redeveloping properties in the greater New York City metropolitan area. The companys properties include office and retail properties, and shopping centers. As of December 31, 2009, it owned seven properties comprising six operating properties and one to be developed property. The company has elected to be treated as a REIT under the Internal Revenue Code of 1986. As a REIT, it would not be subject to federal income taxes, provided it distributes at least 90% of its REIT taxable income to its shareholders. The company was founded in 1955 and is based in Paramus, New Jersey. Alexandria Real Estate Equities Alexandria Real Estate Equities, Inc., is the largest owner focused principally on cluster development through the ownership, operation, management, selective redevelopment, development, and acquisition of properties containing life science laboratory space. Alexandria is the leading provider of high-quality, environmentally sustainable real estate, technical infrastructure, and services to the broad and diverse life science industry. Client tenants include institutional (universities and independent not-for- profit institutions), pharmaceutical, biotechnology, medical device, product, service, and translational entities, as well as government agencies. Alexandria’s operating platform is based on the principle of “clustering,” with assets and operations located in key life science markets. American Campus Communities American Campus Communities is one of the nation's largest developers, owners and managers of high-quality student housing communities. We led the industry to a new plateau in 2004 when we became the first publicly traded student housing REIT (NYSE: ACC). Since 1996, we've developed more than $2.5 billion in properties for our own account and our university clients, and we have acquired in excess of $2.4 billion in student housing assets. Also, we've become a national leader in third-party development and management of on-campus student housing, having been awarded the development of 50 on-campus projects (in addition to our 13 projects developed off campus). Our commitment to our college and university partners is evidenced in our strong ongoing relationships. Almost half of our on-campus developed communities (24 of 50) came from additional projects awarded to us after we had successfully completed a previous community. A deep-rooted understanding of the industry drives the American Campus team. Seven members of our corporate staff at the level of vice president and above began their careers as resident assistants while attending college. Throughout their collective careers, our senior staff has been involved in the development, acquisition or management of more than 214 student housing properties, consisting of more than 127,700 beds at over 173 colleges and universities. This unparalleled experience guides how we analyze student markets, underwrite acquisitions, design and construct our developments, and how we market, lease and operate our communities. American Capital Agency Inc American Capital Agency Corp. (Nasdaq: AGNC) is a mortgage REIT that invests in agency securities for which the principal and interest payments are guaranteed by a U.S. Government agency (such as the Government National Mortgage Association, or GNMA), or a U.S. Government-sponsored entity (such as the Federal National Mortgage Association, or FNMA, and the Federal Home Loan Mortgage Corporation, or FHLMC). American Spectrum Properties American Spectrum Realty, Inc. is a real estate investment company that owns, through its operating partnership, interests in office, industrial, self storage, retail properties, and apartments throughout the United States. Annaly Capital Founded in 1997 as a Real Estate Investment Trust, Annaly is the largest mortgage REIT listed on the New York Stock Exchange (NYSE: NLY). The breadth of expertise and market knowledge of our management team gives Annaly the advantage of identifying opportunities to make strategic investment decisions across a wide range of market environments. Apartment Investment and Management Co Apartment Investment and Management Company (Aimco) is a real estate investment trust (REIT) that engages in the acquisition, ownership, management, and redevelopment of apartment properties. The company rents and leases its apartment units to a diverse base of residents. It also provides management services to third-party owners. As of September 30, 2011, Aimco owned or managed a real estate portfolio of 565 apartment properties containing approximately 100,000 apartment units located in 38 states, the District of Columbia, and Puerto Rico. As a REIT, the company would not be subject to federal income tax, if it distributes at least 90% of its taxable income to its shareholders. Aimco was founded in 1975 and is headquartered in Denver, Colorado. Arbor Realty Trust Arbor Realty Trust is a real estate investment trust that invests in a diversified portfolio of multifamily and commercial real estate- related bridge and mezzanine loans, preferred equity investments and other real estate-related assets. Arbor has a uniquely skilled team of finance experts who provide unprecedented, complex and tailored lending solutions to the commercial and multifamily markets. The Company builds long-term client relationships with a results-oriented approach that produces innovative solutions swiftly and efficiently. Arlington Asset Investment Inc We are a publicly traded company that invests on a leveraged basis in residential mortgage-backed securities (MBS), including collateralized mortgage obligations (CMOs), either issued by a U.S. Government agency, or guaranteed as to principal and interest by U.S. Government agencies or U.S. Government-sponsored entities. We also invest in both AAA-rated MBS issued by private organizations (private-label MBS) and net interest margin securities and we hold merchant banking investments. Armour Residential REIT ARMOUR is a Maryland corporation focused on investing in Agency residential mortgage-backed securities. ARMOUR's residential mortgage backed securities portfolio consists of hybrid adjustable-rate, adjustable-rate and fixed-rate residential mortgage-backed securities issued or guaranteed by the following U.S. Government-chartered entities: the Federal National Mortgage Association (more commonly known as Fannie Mae), the Federal Home Loan Mortgage Corporation (more commonly known as Freddie Mac) and the Government National Mortgage Administration, a U.S. Government corporation (more commonly known as Ginnie Mae). Ashford Hospitality Ashford Hospitality Trust, Inc. is a self-administered real estate investment trust focused on investing in the hospitality industry across all segments and at all levels of the capital structure. The Company’s management team has extensive experience in the hotel and capital markets and collectively brings a unique perspective to hotel investment sourcing, underwriting, asset managing, selling, and financing. Associated Estates Realty Associated Estates Realty Corporation (NYSE, NASDAQ: AEC) is a real estate investment trust ("REIT") headquartered in Richmond Heights, Ohio, a suburb of Cleveland. Associated Estates' portfolio consists of 53 properties containing 13,908 units located in eight states. Avalon Bay Communities AvalonBay Communities, Inc. is in the business of developing, redeveloping, acquiring and managing high-quality apartment communities in the high barrier-to-entry markets of the United States. These markets are located in the Northeast, Mid-Atlantic, Midwest, Pacific Northwest and Northern and Southern California regions of the country. The Company owns, or holds interests in, hundreds of apartment communities with over 50,000 housing units in these markets. Biomed Realty BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focused on Providing Real Estate to the Life Science Industry®. We acquire, develop, own and operate laboratory and office space. Our properties are designed to effectively support the demanding needs of a wide range of pharmaceutical, biotechnology and research institutions. We currently own or have interests in properties comprising approximately 12.4 million rentable square feet. Boston Properties Boston Properties, a self-administered and self-managed real estate investment trust, is one of the largest owners, managers, and developers of first-class office properties in the United States, with a significant presence in four core markets: Boston, Washington, D.C., Midtown Manhattan and San Francisco. The Company was founded in 1970 by Mortimer B. Zuckerman and Edward H. Linde in Boston, where it maintains its headquarters. Boston Properties became a public company in June 1997. Brandywine Realty Brandywine Realty Trust is one of the largest, publicly traded (NYSE:BDN), full-service, integrated real estate companies in the United States. Brandywine operates as a real estate investment trust and owns, develops and manages a primarily Class-A suburban and urban office portfolio. Brandywine is headquartered in Radnor, PA and maintains regional operations in Pennsylvania, Metro DC, New Jersey, Richmond, Delaware, Texas, Northern California, and Southern California BRE Properties. BRE has a longstanding record of strong performance as a REIT - and a clear strategy for continued growth. We develop, acquire and manage apartment communities primarily located in the major metropolitan markets of coastal California and Seattle, Washington, where demand is high and supply is constrained. BRT Realty Trust BRT Realty Trust is a publicly traded (NYSE: BRT) direct short-term commercial lender with over thirty five years of experience originating first mortgage loans nationwide. BRT is recognized as a national leader in creative short-term financing solutions throughout the commercial real estate industry. As a hard money lender specializing in bridge loans and short-term commercial loans we have the experience, flexibility, and financial resources to offer financing solutions for many different types of commercial real estate transactions. Camden Property Trust Camden Property Trust is one of the largest publicly traded multifamily companies in the United States. Structured as a Real Estate Investment Trust (REIT), the company is engaged in the ownership, development, acquisition, management, and disposition of multifamily residential apartment communities. Camden's workforce totals nearly 1,800 employees, and the company is headquartered in Houston, Texas. Camden, an S&P 400 Company, owns interests in and operates 202 properties containing 68,979 apartment homes across the United States, and is traded on the New York Stock Exchange (NYSE) under the ticker symbol CPT. Campus Crest Campus Crest Communities, Inc. is a self-managed, self-administered and vertically-integrated developer, builder, owner and manager of high-quality, purpose-built student housing. CapLease CapLease is a real estate investment trust, or REIT, that invests primarily in single-tenant commercial real estate assets subject to long-term leases to high credit quality tenants. Since 1996, we have originated and underwritten over $4.0 billion in single tenant transactions involving more than 500 properties with more than 100 different tenants. Our senior management team is comprised of individuals with expertise in commercial real estate, credit capital markets, asset management and legal, and has worked together for many years through various business cycles. CapStead Mortgage Capstead invests in a leveraged portfolio of almost exclusively residential adjustable-rate mortgage (“ARM”) securities issued and guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae. Care Investment Trust Care Investment Trust Inc. (Care) is a real estate investment and finance company formed principally to invest in healthcare- related real-estate and mortgage debt. Care is internally managed by experienced professionals and advised by TREIT Management LLC (TREIT), an affiliate of our majority shareholder, Tiptree Financial Partners, L.P. CBL and Associates CBL & Associates Properties, Inc. is a real estate investment trust (REIT) listed on the New York Stock Exchange under the symbol, “CBL”. CBL is one of the largest mall REITs in the United States and owns, holds interests in or manages 160 properties including 87 market dominant enclosed malls and open-air centers from coast to coast. CBL is an active developer of new regional malls, open-air centers, lifestyle and community centers. Cedar Realty Trust Cedar Realty Trust, Inc. is a fully-integrated real estate investment trust that owns shopping centers. Our high-quality core portfolio of 92 primarily supermarket-anchored shopping centers straddling the Washington, DC to Boston corridor totals 13.2 million square feet of GLA, including the Company's ownership interest through a joint venture in 22 similarly-situated supermarket-anchored shopping centers, having approximately 3.7 million square feet of GLA, that we manage. We are focused on creating long-term value for our shareholders and long term relationships with our tenants Chatham Lodging Chatham Lodging Trust is a self-advised real estate investment trust organized to invest in upscale extended-stay hotels and premium- branded select service hotels. Our properties are located in major markets with high barriers to entry, near primary demand generators Chesapeake Lodging Trust We are a self-advised real estate investment trust (“REIT”) that was organized in June 2009. We are focused on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service and extended-stay hotels in urban settings or unique locations in the U.S. We believe current industry dynamics have and will continue to create attractive opportunities to acquire high-quality hotels, at prices well below replacement costs, with attractive yields on investment and significant upside potential. We currently own 12 hotels with an aggregate of 3,512 rooms in six states and the District of Columbia. Chimera Investment Chimera Investment Corporation invests in residential mortgage-backed securities (RMBS), residential mortgage loans, real estate- related securities and various other asset classes. Our objective is to provide attractive risk-adjusted returns to our investors over the long-term, primarily through dividends and secondarily through capital appreciation, by maintaining a business model that evolves with market opportunities. Cogdell Spencer We design, construct, develop and manage healthcare facilities. With in excess of 5,000 completed projects throughout the country, we have a well-honed national perspective, coupled with a strong grassroots process that is deeply rooted in the local community. We care as passionately about the quality of healthcare as our clients and keenly understand that healthcare is a personal experience accomplished one patient at a time in the local community. Colonial Properties Trust Colonial Properties Trust is a real estate investment trust (REIT) that creates value for its shareholders through a multifamily focused portfolio and the management and development of select commercial assets in the Sunbelt region of the United States. As of December 31, 2010, the company owned or managed 34,275 apartment units and 15.1 million square feet of commercial space. Headquartered in Birmingham, Alabama, Colonial Properties is listed on the New York Stock Exchange under the symbol CLP and is included in the S&P SmallCap 600 Index. Colony Financial Colony Financial, Inc. is a commercial real estate finance company engaged in acquiring, originating, investing in, financing and managing a diversified portfolio of real estate-related debt investments, with a primary focus on commercial mortgage loans (which may be performing, sub-performing or non-performing loans), CMBS, mezzanine loans, real estate owned properties, debtor-in- possession loans, B-notes, bridge loans and other commercial real estate-related debt investments. Commonwealth REIT CommonWealth REIT is an office and industrial real estate investment trust, or REIT. As of September 30, 2011, we owned $7.2 billion of office and industrial properties with approximately 69.3 million square feet located in 32 states, Washington, D.C. and Australia. Coresite Realty CoreSite Realty Corporation (NYSE: COR) is a national provider of powerful, network-rich data centers, efficient interconnection services, and global peering opportunities. More than 700 customers such as Global 1000 enterprises, communications providers, cloud and content companies, financial firms, media and entertainment, healthcare, and Government agencies trust CoreSite to power, cool, connect, and secure their mission-critical IT assets. CoreSite data centers are catalysts for network growth, featuring established industry ecosystems with access to 200+ carriers and service providers resulting in more than 12,000 interconnections under management. Corporate Office Properties Trust Corporate Office Properties Trust (COPT) is a specialty office real estate investment trust (NYSE: OFC) that focuses on strategic customer relationships and specialized tenant requirements in the U.S. Government and Defense Information Technology sectors and data centers serving such sectors. Cousins Properties Cousins Properties Incorporated is a leading diversified real estate company with extensive experience in development, acquisition, financing, management and leasing. Based in Atlanta, the Company actively invests in office and retail projects. Crexus Investment Crexus Investment Corp. acquires, manages and finances commercial mortgage loans and other commercial real estate debt, commercial mortgage-backed securities (CMBS) and other commercial real estate-related assets Cubesmart CubeSmart (NYSE: CUBE) is a self-administered and self-managed real estate company focused on the ownership, operation, acquisition and development of self storage facilities in the United States Cypress Sharpridge .CYS is a specialty finance company that was created with the objective of achieving consistent risk-adjusted investment income. We seek to achieve this objective by investing on a leveraged basis in residential mortgage pass-through securities for which the principal and interest payments are guaranteed by the Federal National Mortgage Association, or Fannie Mae, the Federal Home Loan Mortgage Corporation, or Freddie Mac, or the Government National Mortgage Association, or Ginnie Mae, and collateralized by single-family residential mortgage loans. DCT Industrial Trust DCT Industrial Trust Inc. is a leading real estate company specializing in the ownership, acquisition, leasing, development and management of bulk distribution and light industrial properties located in 29 of the highest volume distribution markets in the United States and Mexico. Developers Diversifried DDR owns and manages over 500 retail properties in the continental United States, Puerto Rico and Brazil. Our prime portfolio primarily features open-air, value-oriented shopping centers in high barrier-to-entry markets with stable populations and high growth potential DiamondRock Hospitality We are a lodging-focused real estate company that owns a portfolio of 26 premium hotels and resorts that contain approximately 11,800 guestrooms and a senior mortgage loan secured by another hotel. We are an owner, as opposed to an operator, of the 26 hotels in our portfolio. As an owner, we receive all of the operating profits or losses generated by our hotels after we pay fees to the hotel managers, which are based on the revenues and profitability of the hotels. Digital Realty Digital Realty, Inc. focuses on delivering customer driven data center solutions by providing secure, reliable and cost effective facilities that meet each customer's unique data center needs. Digital Realty's customers include domestic and international companies across multiple industry verticals ranging from information technology and Internet enterprises, to manufacturing and financial services. Douglas Emmet Douglas Emmett is one of the largest owners and operators of high-quality office buildings and multifamily properties in Los Angeles County with a growing presence in Hawaii. The Company has a consistent and focused strategy of identifying submarkets that are supply constrained, have high barriers to entry and exhibit strong economic characteristics such as population and job growth and a diverse economic base. Douglas Emmett focuses primarily on owning and acquiring a substantial share of top-tier office properties within these submarkets, which are located near high-end executive housing and key lifestyle amenities. The Company focuses primarily on owning and acquiring select multifamily properties in premier locations within these same submarkets. It's extensive acquisition and operating expertise is directly linked to its competitive advantage through superior acquisition sourcing, focused leasing programs, active asset and property management and unsurpassed tenant service. Duke Realty Our mission is to build, own, lease and manage industrial, office and healthcare properties with a focus on customer satisfaction while maximizing shareholder value Dupont Fabros DFT is a real estate investment trust (REIT) and leading owner, developer, operator and manager of wholesale data centers. Dynex Capital Dynex Capital, Inc. is a real estate investment trust, or REIT, which invests in mortgage loans and securities on a leveraged basis. The Company invests in both Agency and non-Agency securitized mortgage products. The Company also has investments in securitized single-family residential and commercial mortgage loans originated by the Company from 1992 to 1998. The Company finances it investments through a combination of repurchase agreements, securitization financing, and equity capital. Eastgroup Properties EastGroup Properties, Inc. is a self-administered equity real estate investment trust focused on the acquisition, ownership and development of industrial properties in major Sunbelt markets throughout the United States with a special emphasis in the states of California, Florida, Texas and Arizona Education Realty Trust EdR (NYSE:EDR) is one of America's largest owners, developers and managers of collegiate housing. Education Realty Trust is a self- administered and self-managed real estate investment trust that owns or manages 56 communities in 23 states with nearly 34,000 beds within more than 10,500 units. Entertainment Properties Trust Entertainment Properties Trust (NYSE:EPR) is a specialty real estate investment trust (REIT) that invests in properties in select categories which require unique industry knowledge, while offering the potential for stable and attractive returns. Our total investments exceed $2.9 billion and include megaplex movie theatres and adjacent retail, public charter schools and other destination recreational and specialty investments. We adhere to rigorous underwriting and investing criteria, centered on key industry and property level cash flow standards. We believe our focused niche approach provides a competitive advantage, and the potential for higher growth and better yields. Equity Lifestyle Properties Equity LifeStyle Properties, Inc. owns and operates the highest quality portfolio of resort communities in the United States. We have a controlling interest in over 365 quality resorts in 32 states and British Columbia with over 134,000 sites. Our goal is to create value for residents and investors by providing consistently high levels of services and amenities in attractive surroundings. Our high standards have been recognized with several "Community of the Year" awards for the outstanding quality of our communities and the professionalism of our management. Equity One Equity One is a fully integrated real estate investment trust specializing in the acquisition, asset management, development and redevelopment of quality retail properties located in strategic metropolitan areas across the United States. These centers are anchored by leading supermarkets, pharmacies and retail store chains. Equity Residential Properties Equity Residential (NYSE: EQR) is an S&P 500 company, over 4,000 employees strong, that owns, develops and operates more than 400 high-quality apartment properties in top U.S. growth markets. And for our thousands of residents, we’re home. Essex Properties Essex Property Trust, Inc., is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast communities. Since its founding in 1971, Essex has developed a clearly defined approach for creating value and managing risk. The Company's approach has three components - a sound real estate strategy, an experienced management team, and a strong financial condition. These three factors have contributed to the Company's historical results and future growth potential. Excel Trust Excel Trust, Inc. is a retail focused real estate investment trust that targets value oriented community and power centers, grocery anchored neighborhood centers and freestanding retail properties. Excel Trust trades publicly on the NYSE under the symbol EXL. The current management team has over 30 years of experience in the real estate sector having overseen more than $4 billion in retail related acquisitions and developments. Extra Storage Space Extra Space Storage® Inc. (NYSE: EXR) is a real estate investment trust based in Salt Lake City, Utah with regional offices in California, Connecticut, Florida, Maryland, Massachusetts, New Jersey, New York and Texas. Extra Space Storage is the second largest operator of self storage in the U.S., and is a national owner, developer, acquirer and operator of professionally managed self- storage properties. |
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