December 2006 (FNAR)

Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; December 31, 2006) Number of REITs Company Summary by Property Sector and Subsector Ticker Symbols Investment Sector Property Subsector 138 33 21 7 5 31 16 9 6 23 19 4 11 16 4 11 9 7 38 25 13 183 Equity REITs Industrial/Office Office Industrial Mixed Retail Shopping Centers Regional Malls Free Standing Residential Apartments Manufactured Homes Diversified Lodging/Resorts Self Storage Health Care Specialty Hybrid REITs Mortgage REITs Home Financing Commercial Financing Industry Totals Investment Sector: Equity Property Sector: Industrial/Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 21 Equity Office Properties Tr Boston Property SL Green Realty Reckson Assoc Realty Mack Cali Realty Douglas Emmett Alexandria Real Estate Equity Brandywine Rlty HRPT Properties Kilroy Realty Highwoods Prop Corporate Office Properties Crescent Real Estate Equity Maguire Properties BioMed Realty Trust American Financial Realty Trust Franklin Street Properties Parkway Properties Republic Property Columbia Equity Trust Government Property Trust Subsector Totals EOP BXP SLG RA CLI DEI ARE BDN HRP KRC HIW OFC CEI MPG BMR AFR FSP PKY RPB COE GPT Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office 1 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; December 31, 2006) Number of REITs 1 2 3 4 5 6 7 7 1 2 3 4 5 5 33 Company Prologis AMB Property First Industrial Realty Trust DCT Industrial Trust Eastgroup Properties First Potomac Realty Trust Monmouth REIT Cl A Subsector Totals Duke Realty Corp Liberty Property Trust Ps Business Parks Mission West Md Gladstone Commercial Subsector Totals Sector Totals Property Sector: Retail Ticker Symbols PLD AMB FR DCT EGP FPO MNRTA Investment Sector Equity Equity Equity Equity Equity Equity Equity Property Subsector Industrial Industrial Industrial Industrial Industrial Industrial Industrial DRE LRY PSB MSW GOOD Equity Equity Equity Equity Equity Mixed Mixed Mixed Mixed Mixed 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 16 1 2 3 4 5 6 7 8 9 9 Kimco Realty Cp Developers Diversified Realty Regency Centers Federal Realty Invs Weingarten Realty Investors New Plan Excel Equity One Inc Inland Real Estate Tanger Factory Outlet Center Saul Centers Acadia Realty Cedar Shopping Centers Ramco-Gershenson Properties Kite Realty Group Trust Urstadt Biddle Pptys AmReit Subsector Totals Simon Property Group General Growth Properties Macerich CBL & Associates Properties Taubman Centers Penn Real Estate Invest Mills Corp Glimcher Realty Trust Feldman Mall Properties Subsector Totals KIM DDR REG FRT WRI NXL EQY IRC SKT BFS AKR CDR RPT KRG UBA AMY Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers SPG GGP MAC CBL TCO PEI MLS GRT FMP Equity Equity Equity Equity Equity Equity Equity Equity Equity Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls 2 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; December 31, 2006) Number of REITs 1 2 3 4 5 Company Realty Income Alexanders Inc National Retail Properties Trustreet Properties Getty Realty Ticker Symbols O ALX NNN TSY GTY ADC Investment Sector Equity Equity Equity Equity Equity Equity Property Subsector Free Standing Free Standing Free Standing Free Standing Free Standing Free Standing 6 Agree Realty 6 Subsector Totals 31 Sector Totals Property Sector: Residential 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 19 1 2 3 4 4 23 Equity Residential Archstone-Smith Trust Avalonbay Communities Apartment Inv Management United Dominion Realty Camden Property BRE Properties Essex Prop Trust Post Properties Home Properties Mid-America Apartment Comm American Campus Communties GMH Communities Trust Education Realty Trust BNP Residential Properties Associated Estates Realty American First Apartment Investors Inc Roberts Realty Maxus Realty Trust Subsector Totals Equity Lifestyle Properties Sun Communities American Land Lease UMH Properties Subsector Totals Sector Totals Property Sector: Diversified 1 2 3 4 5 6 7 8 9 10 Vornado Realty Colonial Prop Cousins Property Washington Real Estate Inv Spirit Finance Lexington Corp Investors Real Estate Trust Winthrop Realty Trust Newkirk Realty Trust One Liberty EQR ASN AVB AIV UDR CPT BRE ESS PPS HME MAA ACC GCT EDR BNP AEC APRO RPI MRTI Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments ELS SUI ANL UMH Equity Equity Equity Equity Manufactured Homes Manufactured Homes Manufactured Homes Manufactured Homes VNO CLP CUZ WRE SFC LXP IRETS FUR NKT OLP Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 3 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; December 31, 2006) Number of REITs Company 11 HMG/Courtland Properties 11 Sector Totals Property Sector: Lodging/Resorts 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 16 Host Hotels & Resorts Hospitality Properties Trust LaSalle Hotel Properties Strategic Hotels & Resorts Sunstone Hotel Investors Diamondrock Hospitality FelCor Lodging Ashford Hospitality Trust Equity Inns Highland Hospitality Innkeepers USA Hersha Hospitality Trust Cl A Winston Hotels Eagle Hospitality Properties Supertel Hospitality MHI Hospitality Sector Totals Property Sector: Self Storage 1 2 3 4 4 Public Storage U-Store-It Trust Extra Space Storage Sovran Self Storage Sector Totals Property Sector: Health Care 1 2 3 4 5 6 7 8 9 10 11 11 Health Care Prop Inv Ventas Inc Healthcare REIT Nationwide Health Properties Healthcare Realty Trust Senior Housng Prop Trust OMEGA Healthcare REIT Medical Properties Trust Universal Health Rlty Income National Health Realty COGDELL SPENCER Sector Totals Ticker Symbols HMG Investment Sector Equity Property Subsector HST HPT LHO BEE SHO DRH FCH AHT ENN HIH KPA HT WXH EHP SPPR MDH Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity PSA YSI EXR SSS Equity Equity Equity Equity HCP VTR HCN NHP HR SNH OHI MPW UHT NHR CSA Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 4 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; December 31, 2006) Number of REITs Company Property Sector: Specialty Plum Creek Timber Co Global Signal Rayonier Potlatch Corp. REIT Digital Realty Trust Entertainment Properties Trust Longview Fibre CentraCore Properties Trust Pittsburgh & West Virginia Railroad Sector Totals Investment Sector Totals Investment Sector: Hybrid 1 2 3 4 5 6 7 7 iStar Financial Natl Health Investors LTC Properties Capital Lease Funding PMC Commercial Trust Arizona Land Income Cl A Presidential Realty Cl B Sector Totals Property Sector: Mortgage Ticker Symbols Investment Sector Property Subsector 1 2 3 4 5 6 7 8 9 9 138 PCL GSL RYN PCH DLR EPR LFB CPV PW Equity Equity Equity Equity Equity Equity Equity Equity Equity SFI NHI LTC LSE PCC AZL PDL.B Hybrid Hybrid Hybrid Hybrid Hybrid Hybrid Hybrid 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Annaly Capital Management Thornburg Mortgage KKR Financial American Home Mtg New Century Financial Redwood Trust Novastar Financial Impac Mortgage Crystal River Capital MFA Mortgage Alesco Financial Luminent Mortgage Capital Anworth Mortgage Asset MortgageIT Holdings Resource Capital HomeBanc Fieldstone Investment Opteum Origen Financial Capstead Mortgage ECC Capital Corp Dynex Capital New York Mortgage Trust Hanover Capital Mortgage Holdings Capital Alliance Income Trust NLY TMA KFN AHM NEW RWT NFI IMH CRZ MFA AFN LUM ANH MHL RSO HMB FICC OPX ORGN CMO ECR DX NTR HCM CAA Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing 5 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; December 31, 2006) Number of REITs Company 25 Subsector Totals 1 Newcastle Invt Corp 2 3 4 5 6 7 8 9 10 11 12 13 13 38 Friedman Billings Ramsey NorthStar Realty Finance RAIT Financial Trust Deerfield Triarc Capital Corp. Capital Trust Inc. Cl A Gramercy Capital Corp/New York Anthracite Capital JER Investors Trust Arbor Realty Trust CBRE Realty Finance BRT Realty Trust American Mortgage Acceptance Subsector Totals Sector Totals Ticker Symbols Investment Sector Property Subsector NCT FBR NRF RAS DFR CT GKK AHR JRT ABR CBF BRT AMC Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing 183 Industry Total Summary of Changes: Additions DCT Industrial Trust Deletions Amerivest Properties Saxon Capital Inc Windrose Medical Pptys Tr DCT AMV SAX WRS Equity Equity Mortgage Equiy Industrial Office Home Financing Health Care 1 Note: Equity market capitalization does not include operating partnership units or preferred stock. 6 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; January 31, 2007) Number of REITs Company Summary by Property Sector and Subsector Ticker Symbols Investment Sector Property Subsector 134 32 20 7 5 31 16 9 6 23 19 4 10 16 4 11 7 7 37 24 13 178 Equity REITs Industrial/Office Office Industrial Mixed Retail Shopping Centers Regional Malls Free Standing Residential Apartments Manufactured Homes Diversified Lodging/Resorts Self Storage Health Care Specialty Hybrid REITs Mortgage REITs Home Financing Commercial Financing Industry Totals Investment Sector: Equity Property Sector: Industrial/Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 20 Equity Office Properties Tr Boston Property SL Green Realty Mack Cali Realty Alexandria Real Estate Equity Douglas Emmett Brandywine Rlty Kilroy Realty HRPT Properties Highwoods Prop Corporate Office Properties Crescent Real Estate Equity Maguire Properties BioMed Realty Trust American Financial Realty Trust Franklin Street Properties Parkway Properties Republic Property Columbia Equity Trust Government Property Trust Subsector Totals EOP BXP SLG CLI ARE DEI BDN KRC HRP HIW OFC CEI MPG BMR AFR FSP PKY RPB COE. GPT Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office 7 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; January 31, 2007) Number of REITs 1 2 3 4 5 6 7 7 1 2 3 4 5 5 32 Company Prologis AMB Property First Industrial Realty Trust DCT Industrial Trust Eastgroup Properties First Potomac Realty Trust Monmouth REIT Cl A Subsector Totals Duke Realty Corp Liberty Property Trust Ps Business Parks Mission West Md Gladstone Commercial Subsector Totals Sector Totals Property Sector: Retail Ticker Symbols PLD AMB FR DCT EGP FPO MNRTA Investment Sector Equity Equity Equity Equity Equity Equity Equity Property Subsector Industrial Industrial Industrial Industrial Industrial Industrial Industrial DRE LRY PSB MSW GOOD Equity Equity Equity Equity Equity Mixed Mixed Mixed Mixed Mixed 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 16 1 2 3 4 5 6 7 8 9 9 Kimco Realty Cp Developers Diversified Realty Regency Centers Federal Realty Invs Weingarten Realty Investors New Plan Excel Equity One Inc Inland Real Estate Tanger Factory Outlet Center Saul Centers Acadia Realty Cedar Shopping Centers Ramco-Gershenson Properties Kite Realty Group Trust Urstadt Biddle Pptys AmReit Subsector Totals Simon Property Group General Growth Properties Macerich Taubman Centers CBL & Associates Properties Penn Real Estate Invest Mills Corp Glimcher Realty Trust Feldman Mall Properties Subsector Totals KIM DDR REG FRT WRI NXL EQY IRC SKT BFS AKR CDR RPT KRG UBA AMY Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers SPG GGP MAC TCO CBL PEI MLS GRT FMP Equity Equity Equity Equity Equity Equity Equity Equity Equity Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls 8 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; January 31, 2007) Number of REITs 1 2 3 4 5 Company Realty Income Alexanders Inc National Retail Properties Trustreet Properties Getty Realty Ticker Symbols O ALX NNN TSY GTY ADC Investment Sector Equity Equity Equity Equity Equity Equity Property Subsector Free Standing Free Standing Free Standing Free Standing Free Standing Free Standing 6 Agree Realty 6 Subsector Totals 31 Sector Totals Property Sector: Residential 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 19 1 2 3 4 4 23 Equity Residential Archstone-Smith Trust Avalonbay Communities Apartment Inv Management United Dominion Realty Camden Property BRE Properties Essex Prop Trust Home Properties Post Properties Mid-America Apartment Comm American Campus Communties GMH Communities Trust Education Realty Trust Associated Estates Realty BNP Residential Properties American First Apartment Investors Inc Roberts Realty Maxus Realty Trust Subsector Totals Equity Lifestyle Properties Sun Communities American Land Lease UMH Properties Subsector Totals Sector Totals Property Sector: Diversified 1 2 3 4 5 6 7 8 9 10 10 Vornado Realty Colonial Prop Cousins Property Washington Real Estate Inv Lexington Realty Trust Spirit Finance Investors Real Estate Trust Winthrop Realty Trust One Liberty HMG/Courtland Properties Sector Totals Property Sector: Lodging/Resorts EQR ASN AVB AIV UDR CPT BRE ESS HME PPS MAA ACC GCT EDR AEC BNP APRO RPI MRTI Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments ELS SUI ANL UMH Equity Equity Equity Equity Manufactured Homes Manufactured Homes Manufactured Homes Manufactured Homes VNO CLP CUZ WRE LXP SFC IRETS FUR OLP HMG Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 9 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; January 31, 2007) Number of REITs 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 16 Company Host Hotels & Resorts Hospitality Properties Trust LaSalle Hotel Properties Diamondrock Hospitality Sunstone Hotel Investors Strategic Hotels & Resorts FelCor Lodging Highland Hospitality Equity Inns Ashford Hospitality Trust Innkeepers USA Hersha Hospitality Trust Cl A Winston Hotels Eagle Hospitality Properties Supertel Hospitality MHI Hospitality Sector Totals Property Sector: Self Storage Ticker Symbols HST HPT LHO DRH SHO BEE FCH HIH ENN AHT KPA HT WXH EHP SPPR MDH Investment Sector Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Property Subsector 1 2 3 4 4 Public Storage Extra Space Storage U-Store-It Trust Sovran Self Storage Sector Totals Property Sector: Health Care PSA EXR YSI SSS Equity Equity Equity Equity 1 2 3 4 5 6 7 8 9 10 11 11 Health Care Prop Inv Ventas Inc Healthcare REIT Nationwide Health Properties Healthcare Realty Trust Senior Housng Prop Trust OMEGA Healthcare REIT Medical Properties Trust Universal Health Rlty Income National Health Realty COGDELL SPENCER Sector Totals HCP VTR HCN NHP HR SNH OHI MPW UHT NHR CSA Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 10 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; January 31, 2007) Number of REITs Company Property Sector: Specialty Plum Creek Timber Co Rayonier Potlatch Corp. REIT Entertainment Properties Trust Digital Realty Trust Longview Fibre Pittsburgh & West Virginia Railroad Sector Totals Investment Sector Totals Investment Sector: Hybrid 1 2 3 4 5 6 7 7 iStar Financial Natl Health Investors LTC Properties Capital Lease Funding PMC Commercial Trust Presidential Realty Cl B Arizona Land Income Cl A Sector Totals Property Sector: Mortgage Ticker Symbols Investment Sector Property Subsector 1 2 3 4 5 6 7 7 134 PCL RYN PCH EPR DLR LFB PW Equity Equity Equity Equity Equity Equity Equity SFI NHI LTC LSE PCC PDL/B AZL Hybrid Hybrid Hybrid Hybrid Hybrid Hybrid Hybrid 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Thornburg Mortgage Annaly Capital Management KKR Financial American Home Mtg New Century Financial Redwood Trust Novastar Financial Crystal River Capital Impac Mortgage MFA Mortgage Alesco Financial Resource Capital Luminent Mortgage Capital Anworth Mortgage Asset HomeBanc Fieldstone Investment Opteum Capstead Mortgage Origen Financial ECC Capital Corp Dynex Capital New York Mortgage Trust Hanover Capital Mortgage Holdings Capital Alliance Income Trust TMA NLY KFN AHM NEW RWT NFI CRZ. IMH MFA AFN RSO LUM ANH HMB FICC OPX CMO ORGN ECR DX NTR HCM CAA Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing 11 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; January 31, 2007) Number of REITs Company 24 Subsector Totals 1 RAIT Financial Trust 2 3 4 5 6 7 8 9 10 11 12 13 13 37 Newcastle Invt Corp Friedman Billings Ramsey NorthStar Realty Finance Gramercy Capital Corp/New York Capital Trust Inc. Cl A Deerfield Triarc Capital Corp. Anthracite Capital Arbor Realty Trust JER Investors Trust CBRE Realty Finance BRT Realty Trust American Mortgage Acceptance Subsector Totals Sector Totals Ticker Symbols Investment Sector Property Subsector RAS NCT FBR NRF GKK CT DFR AHR ABR JRT CBF BRT AMC Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing 178 Industry Total Summary of Changes: Additions Deletions Global Signal CentraCore Properties Trust MortgageIT Holdings Reckson Assoc Realty Newkirk Realty Trust GSL CPV MHL RA NKT Equity Equity Mortgage Equity Equity Specialty Specialty Home Financing Office Diversified 1 Note: Equity market capitalization does not include operating partnership units or preferred stock. 12 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; February 28, 2007) Number of REITs Company Summary by Property Sector and Subsector Ticker Symbols Investment Sector Property Subsector 132 31 19 7 5 30 16 9 5 23 19 4 10 16 4 11 7 7 37 24 13 176 Equity REITs Industrial/Office Office Industrial Mixed Retail Shopping Centers Regional Malls Free Standing Residential Apartments Manufactured Homes Diversified Lodging/Resorts Self Storage Health Care Specialty Hybrid REITs Mortgage REITs Home Financing Commercial Financing Industry Totals Investment Sector: Equity Property Sector: Industrial/Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 19 Boston Property SL Green Realty Mack Cali Realty Brandywine Rlty Douglas Emmett Alexandria Real Estate Equity HRPT Properties Kilroy Realty Highwoods Prop Corporate Office Properties Crescent Real Estate Equity Maguire Properties BioMed Realty Trust American Financial Realty Trust Franklin Street Properties Parkway Properties Republic Property Columbia Equity Trust Government Property Trust Subsector Totals BXP SLG CLI BDN DEI ARE HRP KRC HIW OFC CEI MPG BMR AFR FSP PKY RPB COE GPT Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office 13 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; February 28, 2007) Number of REITs 1 2 3 4 5 6 7 7 1 2 3 4 5 5 31 Company Prologis AMB Property First Industrial Realty Trust DCT Industrial Trust Eastgroup Properties First Potomac Realty Trust Monmouth REIT Cl A Subsector Totals Duke Realty Corp Liberty Property Trust Ps Business Parks Mission West Md Gladstone Commercial Subsector Totals Sector Totals Property Sector: Retail Ticker Symbols PLD AMB FR DCT EGP FPO MNRTA Investment Sector Equity Equity Equity Equity Equity Equity Equity Property Subsector Industrial Industrial Industrial Industrial Industrial Industrial Industrial DRE LRY PSB MSW GOOD Equity Equity Equity Equity Equity Mixed Mixed Mixed Mixed Mixed 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 16 1 2 3 4 5 6 7 8 9 9 Kimco Realty Cp Developers Diversified Realty Regency Centers Federal Realty Invs Weingarten Realty Investors New Plan Excel Equity One Inc Inland Real Estate Tanger Factory Outlet Center Saul Centers Acadia Realty Cedar Shopping Centers Ramco-Gershenson Properties Kite Realty Group Trust Urstadt Biddle Pptys AmReit Subsector Totals Simon Property Group General Growth Properties Macerich Taubman Centers CBL & Associates Properties Penn Real Estate Invest Mills Corp Glimcher Realty Trust Feldman Mall Properties Subsector Totals KIM DDR REG FRT WRI NXL EQY IRC SKT BFS AKR CDR RPT KRG UBA AMY Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers SPG GGP MAC TCO CBL PEI MLS GRT FMP Equity Equity Equity Equity Equity Equity Equity Equity Equity Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls 14 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; February 28, 2007) Number of REITs 1 2 3 4 5 5 30 Company Realty Income Alexanders Inc National Retail Properties Getty Realty Agree Realty Subsector Totals Sector Totals Property Sector: Residential Ticker Symbols O ALX NNN GTY ADC Investment Sector Equity Equity Equity Equity Equity Property Subsector Free Standing Free Standing Free Standing Free Standing Free Standing 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 19 1 2 3 4 4 23 Equity Residential Archstone-Smith Trust Avalonbay Communities Apartment Inv Management United Dominion Realty Camden Property BRE Properties Essex Prop Trust Post Properties Home Properties Mid-America Apartment Comm American Campus Communties GMH Communities Trust Education Realty Trust Associated Estates Realty BNP Residential Properties American First Apartment Investors Inc Roberts Realty Maxus Realty Trust Subsector Totals Equity Lifestyle Properties Sun Communities American Land Lease UMH Properties Subsector Totals Sector Totals Property Sector: Diversified EQR ASN AVB AIV UDR CPT BRE ESS PPS HME MAA ACC GCT EDR AEC BNP APRO RPI MRTI Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments ELS SUI ANL UMH Equity Equity Equity Equity Manufactured Homes Manufactured Homes Manufactured Homes Manufactured Homes 1 2 3 4 5 6 7 8 9 10 10 Vornado Realty Colonial Prop Washington Real Estate Inv Cousins Property Lexington Realty Trust Spirit Finance Investors Real Estate Trust Winthrop Realty Trust One Liberty HMG/Courtland Properties Sector Totals Property Sector: Lodging/Resorts VNO CLP WRE CUZ LXP SFC IRETS FUR OLP HMG Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 1 Host Hotels & Resorts HST Equity 15 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; February 28, 2007) Number of REITs 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 16 Company Hospitality Properties Trust LaSalle Hotel Properties Diamondrock Hospitality Sunstone Hotel Investors Strategic Hotels & Resorts FelCor Lodging Highland Hospitality Ashford Hospitality Trust Equity Inns Innkeepers USA Hersha Hospitality Trust Cl A Winston Hotels Eagle Hospitality Properties Supertel Hospitality MHI Hospitality Sector Totals Property Sector: Self Storage Ticker Symbols HPT LHO DRH SHO BEE FCH HIH AHT ENN KPA HT WXH EHP SPPR MDH Investment Sector Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Property Subsector 1 2 3 4 4 Public Storage U-Store-It Trust Extra Space Storage Sovran Self Storage Sector Totals Property Sector: Health Care PSA YSI EXR SSS Equity Equity Equity Equity 1 2 3 4 5 6 7 8 9 10 11 11 Health Care Prop Inv Ventas Inc Healthcare REIT Nationwide Health Properties Healthcare Realty Trust Senior Housng Prop Trust OMEGA Healthcare REIT Medical Properties Trust Universal Health Rlty Income National Health Realty COGDELL SPENCER Sector Totals HCP VTR HCN NHP HR SNH OHI MPW UHT NHR CSA Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 16 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; February 28, 2007) Number of REITs Company Property Sector: Specialty Plum Creek Timber Co Rayonier Digital Realty Trust Potlatch Corp. REIT Entertainment Properties Trust Longview Fibre Pittsburgh & West Virginia Railroad Sector Totals Investment Sector Totals Investment Sector: Hybrid 1 2 3 4 5 6 7 7 iStar Financial Natl Health Investors LTC Properties Capital Lease Funding PMC Commercial Trust Presidential Realty Cl B Arizona Land Income Cl A Sector Totals Property Sector: Mortgage Ticker Symbols Investment Sector Property Subsector 1 2 3 4 5 6 7 7 132 PCL RYN DLR PCH EPR LFB PW Equity Equity Equity Equity Equity Equity Equity SFI NHI LTC LSE PCC PDL/B AZL Hybrid Hybrid Hybrid Hybrid Hybrid Hybrid Hybrid 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Annaly Capital Management Thornburg Mortgage KKR Financial Redwood Trust American Home Mtg New Century Financial Crystal River Capital MFA Mortgage Alesco Financial Impac Mortgage Luminent Mortgage Capital Anworth Mortgage Asset Resource Capital Novastar Financial Fieldstone Investment Capstead Mortgage HomeBanc Origen Financial Opteum Dynex Capital ECC Capital Corp New York Mortgage Trust Hanover Capital Mortgage Holdings Capital Alliance Income Trust NLY TMA KFN RWT AHM NEW CRZ MFA AFN IMH LUM ANH RSO NFI FICC CMO HMB ORGN OPX DX ECR NTR HCM CAA Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing 17 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; February 28, 2007) Number of REITs Company 24 Subsector Totals 1 RAIT Financial Trust 2 3 4 5 6 7 8 9 10 11 12 13 13 37 Newcastle Invt Corp Friedman Billings Ramsey NorthStar Realty Finance Gramercy Capital Corp/New York Capital Trust Inc. Cl A Deerfield Triarc Capital Corp. Anthracite Capital Arbor Realty Trust JER Investors Trust BRT Realty Trust CBRE Realty Finance American Mortgage Acceptance Subsector Totals Sector Totals Ticker Symbols Investment Sector Property Subsector RAS NCT FBR NRF GKK CT DFR AHR ABR JRT BRT CBF AMC Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing 176 Industry Total Summary of Changes: Additions Deletions Equity Office Properties Tr Trustreet Properties EOP TSY Equity Equity Office Free Standing 1 Note: Equity market capitalization does not include operating partnership units or preferred stock. 18 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; March 31, 2007) Number of REITs Company Summary by Property Sector and Subsector Ticker Symbols Investment Sector Property Subsector 131 30 18 7 5 30 16 9 5 22 18 4 10 16 4 12 7 6 35 22 13 172 Equity REITs Industrial/Office Office Industrial Mixed Retail Shopping Centers Regional Malls Free Standing Residential Apartments Manufactured Homes Diversified Lodging/Resorts Self Storage Health Care Specialty Hybrid REITs Mortgage REITs Home Financing Commercial Financing Industry Totals Investment Sector: Equity Property Sector: Industrial/Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 18 Boston Property SL Green Realty Mack Cali Realty Brandywine Rlty Alexandria Real Estate Equity Douglas Emmett HRPT Properties Kilroy Realty Highwoods Prop Corporate Office Properties Crescent Real Estate Equity BioMed Realty Trust Maguire Properties Franklin Street Properties American Financial Realty Trust Parkway Properties Republic Property Government Property Trust Subsector Totals BXP SLG CLI BDN ARE DEI HRP KRC HIW OFC CEI BMR MPG FSP AFR PKY RPB GPT Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office 19 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; March 31, 2007) Number of REITs 1 2 3 4 5 6 7 7 1 2 3 4 5 5 30 Company Prologis AMB Property First Industrial Realty Trust DCT Industrial Trust Eastgroup Properties First Potomac Realty Trust Monmouth REIT Cl A Subsector Totals Duke Realty Corp Liberty Property Trust Ps Business Parks Mission West Md Gladstone Commercial Subsector Totals Sector Totals Property Sector: Retail Ticker Symbols PLD AMB FR DCT EGP FPO MNRTA Investment Sector Equity Equity Equity Equity Equity Equity Equity Property Subsector Industrial Industrial Industrial Industrial Industrial Industrial Industrial DRE LRY PSB MSW GOOD Equity Equity Equity Equity Equity Mixed Mixed Mixed Mixed Mixed 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 16 1 2 3 4 5 6 7 8 9 9 Kimco Realty Cp Developers Diversified Realty Regency Centers Federal Realty Invs Weingarten Realty Investors New Plan Excel Equity One Inc Inland Real Estate Tanger Factory Outlet Center Saul Centers Acadia Realty Cedar Shopping Centers Ramco-Gershenson Properties Kite Realty Group Trust Urstadt Biddle Pptys AmReit Subsector Totals Simon Property Group General Growth Properties Macerich Taubman Centers CBL & Associates Properties Penn Real Estate Invest Mills Corp Glimcher Realty Trust Feldman Mall Properties Subsector Totals KIM DDR REG FRT WRI NXL EQY IRC SKT BFS AKR CDR RPT KRG UBA AMY Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers SPG GGP MAC TCO CBL PEI MLS GRT FMP Equity Equity Equity Equity Equity Equity Equity Equity Equity Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls 20 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; March 31, 2007) Number of REITs 1 2 3 4 5 5 30 Company Realty Income Alexanders Inc National Retail Properties Getty Realty Agree Realty Subsector Totals Sector Totals Property Sector: Residential Ticker Symbols O ALX NNN GTY ADC Investment Sector Equity Equity Equity Equity Equity Property Subsector Free Standing Free Standing Free Standing Free Standing Free Standing 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 18 1 2 3 4 4 22 Equity Residential Archstone-Smith Trust Avalonbay Communities Apartment Inv Management UDR Camden Property BRE Properties Essex Prop Trust Post Properties Home Properties Mid-America Apartment Comm American Campus Communties GMH Communities Trust Education Realty Trust Associated Estates Realty American First Apartment Investors Inc Roberts Realty Maxus Realty Trust Subsector Totals Equity Lifestyle Properties Sun Communities American Land Lease UMH Properties Subsector Totals Sector Totals Property Sector: Diversified EQR ASN AVB AIV UDR CPT BRE ESS PPS HME MAA ACC GCT EDR AEC APRO RPI MRTI Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments ELS SUI ANL UMH Equity Equity Equity Equity Manufactured Homes Manufactured Homes Manufactured Homes Manufactured Homes 1 2 3 4 5 6 7 8 9 10 10 Vornado Realty Colonial Prop Cousins Property Washington Real Estate Inv Spirit Finance Lexington Realty Trust Investors Real Estate Trust Winthrop Realty Trust One Liberty HMG/Courtland Properties Sector Totals Property Sector: Lodging/Resorts VNO CLP CUZ WRE SFC LXP IRETS FUR OLP HMG Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 1 Host Hotels & Resorts 2 Hospitality Properties Trust HST HPT Equity Equity 21 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; March 31, 2007) Number of REITs 3 4 5 6 7 8 9 10 11 12 13 14 15 16 16 Company LaSalle Hotel Properties Diamondrock Hospitality Strategic Hotels & Resorts FelCor Lodging Sunstone Hotel Investors Highland Hospitality Equity Inns Ashford Hospitality Trust Innkeepers USA Hersha Hospitality Trust Cl A Winston Hotels Eagle Hospitality Properties Supertel Hospitality MHI Hospitality Sector Totals Property Sector: Self Storage Ticker Symbols LHO DRH BEE FCH SHO HIH ENN AHT KPA HT WXH EHP SPPR MDH Investment Sector Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Property Subsector 1 2 3 4 4 Public Storage Extra Space Storage U-Store-It Trust Sovran Self Storage Sector Totals Property Sector: Health Care PSA EXR YSI SSS Equity Equity Equity Equity 1 2 3 4 5 6 7 8 9 10 11 12 12 Health Care Prop Inv Ventas Inc Healthcare REIT Nationwide Health Properties Senior Housng Prop Trust Healthcare Realty Trust OMEGA Healthcare REIT Medical Properties Trust LTC Properties Universal Health Rlty Income COGDELL SPENCER National Health Realty Sector Totals HCP VTR HCN NHP SNH HR OHI MPW LTC UHT CSA NHR Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 22 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; March 31, 2007) Number of REITs Company Property Sector: Specialty Plum Creek Timber Co Rayonier Digital Realty Trust Potlatch Corp. REIT Longview Fibre Entertainment Properties Trust Pittsburgh & West Virginia Railroad Sector Totals Investment Sector Totals Investment Sector: Hybrid 1 2 3 4 5 6 6 iStar Financial Natl Health Investors Capital Lease Funding PMC Commercial Trust Presidential Realty Cl B Arizona Land Income Cl A Sector Totals Property Sector: Mortgage Ticker Symbols Investment Sector Property Subsector 1 2 3 4 5 6 7 7 131 PCL RYN DLR PCH LFB EPR PW Equity Equity Equity Equity Equity Equity Equity SFI NHI LSE PCC PDL/B AZL Hybrid Hybrid Hybrid Hybrid Hybrid Hybrid 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 Annaly Capital Management Thornburg Mortgage KKR Financial Redwood Trust American Home Mtg Crystal River Capital MFA Mortgage Alesco Financial Anworth Mortgage Asset Luminent Mortgage Capital Resource Capital Impac Mortgage HomeBanc Capstead Mortgage Novastar Financial Origen Financial Fieldstone Investment Opteum Dynex Capital New York Mortgage Trust Hanover Capital Mortgage Holdings Capital Alliance Income Trust NLY TMA KFN RWT AHM CRZ MFA AFN ANH LUM RSO IMH HMB CMO NFI ORGN FICC OPX DX NTR HCM CAA Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing 23 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; March 31, 2007) Number of REITs Company 22 Subsector Totals 1 RAIT Financial Trust 2 3 4 5 6 7 8 9 10 11 12 13 13 35 Newcastle Invt Corp NorthStar Realty Finance Friedman Billings Ramsey Capital Trust Inc. Cl A Gramercy Capital Corp/New York Deerfield Triarc Capital Corp. Anthracite Capital Arbor Realty Trust JER Investors Trust CBRE Realty Finance BRT Realty Trust American Mortgage Acceptance Subsector Totals Sector Totals Ticker Symbols Investment Sector Property Subsector RAS NCT NRF FBR CT GKK DFR AHR ABR JRT CBF BRT AMC Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing 172 Industry Total Summary of Changes: Category Changes: From: LTC Properties To: Additions None Deletions Columbia Equity Trust BNP Residential Properties New Century Financial ECC Capital Corp COE BNP NEW ECR Equity Equity Mortgage Mortgage Office Apartments Home Financing Home Financing LTC Hybrid Equity Health Care 1 Note: Equity market capitalization does not include operating partnership units or preferred stock. 24 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; April 30, 2007) Number of REITs Company Summary by Property Sector and Subsector Ticker Symbols Investment Sector Property Subsector 127 29 17 7 5 28 15 8 5 22 18 4 10 16 4 12 6 6 36 22 14 169 Equity REITs Industrial/Office Office Industrial Mixed Retail Shopping Centers Regional Malls Free Standing Residential Apartments Manufactured Homes Diversified Lodging/Resorts Self Storage Health Care Specialty Hybrid REITs Mortgage REITs Home Financing Commercial Financing Industry Totals Investment Sector: Equity Property Sector: Industrial/Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 17 Boston Property SL Green Realty Mack Cali Realty Alexandria Real Estate Equity Douglas Emmett Brandywine Rlty HRPT Properties Kilroy Realty Highwoods Prop Corporate Office Properties Crescent Real Estate Equity BioMed Realty Trust Maguire Properties American Financial Realty Trust Franklin Street Properties Parkway Properties Republic Property Subsector Totals BXP SLG CLI ARE DEI BDN HRP KRC HIW OFC CEI BMR MPG AFR FSP PKY RPB Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office 25 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; April 30, 2007) Number of REITs 1 2 3 4 5 6 7 7 1 2 3 4 5 5 29 Company Prologis AMB Property First Industrial Realty Trust DCT Industrial Trust Eastgroup Properties First Potomac Realty Trust Monmouth REIT Cl A Subsector Totals Duke Realty Corp Liberty Property Trust Ps Business Parks Mission West Md Gladstone Commercial Subsector Totals Sector Totals Property Sector: Retail Ticker Symbols PLD AMB FR DCT EGP FPO MNRTA Investment Sector Equity Equity Equity Equity Equity Equity Equity Property Subsector Industrial Industrial Industrial Industrial Industrial Industrial Industrial DRE LRY PSB MSW GOOD Equity Equity Equity Equity Equity Mixed Mixed Mixed Mixed Mixed 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 15 1 2 3 4 5 6 7 8 8 Kimco Realty Cp Developers Diversified Realty Regency Centers Federal Realty Invs Weingarten Realty Investors Equity One Inc Tanger Factory Outlet Center Inland Real Estate Saul Centers Acadia Realty Cedar Shopping Centers Ramco-Gershenson Properties Kite Realty Group Trust Urstadt Biddle Pptys AmReit Subsector Totals Simon Property Group General Growth Properties Macerich CBL & Associates Properties Taubman Centers Penn Real Estate Invest Glimcher Realty Trust Feldman Mall Properties Subsector Totals KIM DDR REG FRT WRI EQY SKT IRC BFS AKR CDR RPT KRG UBA AMY Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers SPG GGP MAC CBL TCO PEI GRT FMP Equity Equity Equity Equity Equity Equity Equity Equity Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls 26 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; April 30, 2007) Number of REITs 1 2 3 4 5 5 28 Company Realty Income Alexanders Inc National Retail Properties Getty Realty Agree Realty Subsector Totals Sector Totals Property Sector: Residential Ticker Symbols O ALX NNN GTY ADC Investment Sector Equity Equity Equity Equity Equity Property Subsector Free Standing Free Standing Free Standing Free Standing Free Standing 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 18 1 2 3 4 4 22 Equity Residential Archstone-Smith Trust Avalonbay Communities Apartment Inv Management UDR Camden Property BRE Properties Essex Prop Trust Post Properties Home Properties Mid-America Apartment Comm American Campus Communties GMH Communities Trust Education Realty Trust Associated Estates Realty American First Apartment Investors Inc Roberts Realty Maxus Realty Trust Subsector Totals Equity Lifestyle Properties Sun Communities American Land Lease UMH Properties Subsector Totals Sector Totals Property Sector: Diversified EQR ASN AVB AIV UDR CPT BRE ESS PPS HME MAA ACC GCT EDR AEC APRO RPI MRTI Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments ELS SUI ANL UMH Equity Equity Equity Equity Manufactured Homes Manufactured Homes Manufactured Homes Manufactured Homes 1 2 3 4 5 6 7 8 9 10 10 Vornado Realty Colonial Prop Cousins Property Washington Real Estate Inv Spirit Finance Lexington Realty Trust Investors Real Estate Trust Winthrop Realty Trust One Liberty HMG/Courtland Properties Sector Totals Property Sector: Lodging/Resorts VNO CLP CUZ WRE SFC LXP IRETS FUR OLP HMG Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 1 Host Hotels & Resorts 2 Hospitality Properties Trust HST HPT Equity Equity 27 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; April 30, 2007) Number of REITs 3 4 5 6 7 8 9 10 11 12 13 14 15 16 16 Company LaSalle Hotel Properties Diamondrock Hospitality Sunstone Hotel Investors Strategic Hotels & Resorts FelCor Lodging Ashford Hospitality Trust Highland Hospitality Equity Inns Innkeepers USA Hersha Hospitality Trust Cl A Winston Hotels Eagle Hospitality Properties Supertel Hospitality MHI Hospitality Sector Totals Property Sector: Self Storage Ticker Symbols LHO DRH SHO BEE FCH AHT HIH ENN KPA HT WXH EHP SPPR MDH Investment Sector Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Property Subsector 1 2 3 4 4 Public Storage Extra Space Storage Sovran Self Storage U-Store-It Trust Sector Totals Property Sector: Health Care PSA EXR SSS YSI Equity Equity Equity Equity 1 2 3 4 5 6 7 8 9 10 11 12 12 Health Care Prop Inv Ventas Inc Healthcare REIT Nationwide Health Properties Senior Housng Prop Trust Healthcare Realty Trust OMEGA Healthcare REIT Medical Properties Trust LTC Properties Universal Health Rlty Income COGDELL SPENCER National Health Realty Sector Totals HCP VTR HCN NHP SNH HR OHI MPW LTC UHT CSA NHR Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 28 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; April 30, 2007) Number of REITs Company Property Sector: Specialty Plum Creek Timber Co Rayonier Digital Realty Trust Potlatch Corp. REIT Entertainment Properties Trust Pittsburgh & West Virginia Railroad Sector Totals Investment Sector Totals Investment Sector: Hybrid 1 2 3 4 5 6 6 iStar Financial Natl Health Investors Capital Lease Funding PMC Commercial Trust Presidential Realty Cl B Arizona Land Income Cl A Sector Totals Property Sector: Mortgage Ticker Symbols Investment Sector Property Subsector 1 2 3 4 5 6 6 127 PCL RYN DLR PCH EPR PW Equity Equity Equity Equity Equity Equity SFI NHI LSE PCC PDL/B AZL Hybrid Hybrid Hybrid Hybrid Hybrid Hybrid 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 Annaly Capital Management Thornburg Mortgage KKR Financial Redwood Trust American Home Mtg Crystal River Capital MFA Mortgage Alesco Financial Anworth Mortgage Asset Impac Mortgage Luminent Mortgage Capital Resource Capital Novastar Financial Capstead Mortgage Origen Financial Fieldstone Investment HomeBanc Opteum Dynex Capital New York Mortgage Trust Hanover Capital Mortgage Holdings Capital Alliance Income Trust NLY TMA KFN RWT AHM CRZ. MFA AFN ANH IMH LUM RSO NFI CMO ORGN FICC HMB OPX DX NTR HCM CAA Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing 29 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; April 30, 2007) Number of REITs Company 22 Subsector Totals 1 RAIT Financial Trust 2 3 4 5 6 7 8 9 10 11 12 13 14 14 36 Newcastle Invt Corp NorthStar Realty Finance Friedman Billings Ramsey Deerfield Triarc Capital Corp. Gramercy Capital Corp/New York Capital Trust Inc. Cl A Anthracite Capital Arbor Realty Trust JER Investors Trust Quadra Realty Trust Inc. CBRE Realty Finance BRT Realty Trust American Mortgage Acceptance Subsector Totals Sector Totals Ticker Symbols Investment Sector Property Subsector RAS NCT NRF FBR DFR GKK CT AHR ABR JRT QRR CBF BRT AMC Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing 169 Industry Total Summary of Changes: Additions Quadra Realty Trust Inc. Deletions Government Property Trust New Plan Excel Mills Corp Longview Fibre QRR GPT NXL MLS LFB Mortgage Equity Equity Equity Equity Commercial Financing Office Shopping Centers Regional Malls Specialty 1 Note: Equity market capitalization does not include operating partnership units or preferred stock. 30 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; May 31, 2007) Number of REITs Company Summary by Property Sector and Subsector Ticker Symbols Investment Sector Property Subsector 127 29 17 7 5 28 15 8 5 22 18 4 10 16 4 12 6 6 35 21 14 168 Equity REITs Industrial/Office Office Industrial Mixed Retail Shopping Centers Regional Malls Free Standing Residential Apartments Manufactured Homes Diversified Lodging/Resorts Self Storage Health Care Specialty Hybrid REITs Mortgage REITs Home Financing Commercial Financing Industry Totals Investment Sector: Equity Property Sector: Industrial/Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 17 Boston Property SL Green Realty Mack Cali Realty Alexandria Real Estate Equity Douglas Emmett Brandywine Rlty Highwoods Prop HRPT Properties Kilroy Realty Crescent Real Estate Equity Corporate Office Properties BioMed Realty Trust Maguire Properties American Financial Realty Trust Franklin Street Properties Parkway Properties Republic Property Subsector Totals BXP SLG CLI ARE DEI BDN HIW HRP KRC CEI OFC BMR MPG AFR FSP PKY RPB Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office 31 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; May 31, 2007) Number of REITs 1 2 3 4 5 6 7 7 1 2 3 4 5 5 29 Company Prologis AMB Property First Industrial Realty Trust DCT Industrial Trust Eastgroup Properties First Potomac Realty Trust Monmouth REIT Cl A Subsector Totals Duke Realty Corp Liberty Property Trust Ps Business Parks Mission West Md Gladstone Commercial Subsector Totals Sector Totals Property Sector: Retail Ticker Symbols PLD AMB FR DCT EGP FPO MNRTA Investment Sector Equity Equity Equity Equity Equity Equity Equity Property Subsector Industrial Industrial Industrial Industrial Industrial Industrial Industrial DRE LRY PSB MSW GOOD Equity Equity Equity Equity Equity Mixed Mixed Mixed Mixed Mixed 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 15 1 2 3 4 5 6 7 8 8 Kimco Realty Cp Developers Diversified Realty Regency Centers Federal Realty Invs Weingarten Realty Investors Equity One Inc Tanger Factory Outlet Center Inland Real Estate Acadia Realty Saul Centers Cedar Shopping Centers Ramco-Gershenson Properties Kite Realty Group Trust Urstadt Biddle Pptys AmReit Subsector Totals Simon Property Group General Growth Properties Macerich Taubman Centers CBL & Associates Properties Penn Real Estate Invest Glimcher Realty Trust Feldman Mall Properties Subsector Totals KIM DDR REG FRT WRI EQY SKT IRC AKR BFS CDR RPT KRG UBA AMY Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers SPG GGP MAC TCO CBL PEI GRT FMP Equity Equity Equity Equity Equity Equity Equity Equity Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls 32 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; May 31, 2007) Number of REITs 1 2 3 4 5 5 28 Company Realty Income Alexanders Inc National Retail Properties Getty Realty Agree Realty Subsector Totals Sector Totals Property Sector: Residential Ticker Symbols O ALX NNN GTY ADC Investment Sector Equity Equity Equity Equity Equity Property Subsector Free Standing Free Standing Free Standing Free Standing Free Standing 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 18 1 2 3 4 4 22 Equity Residential Archstone-Smith Trust Avalonbay Communities Apartment Inv Management Camden Property UDR Essex Prop Trust BRE Properties Post Properties Home Properties Mid-America Apartment Comm American Campus Communties GMH Communities Trust Education Realty Trust Associated Estates Realty American First Apartment Investors Inc Roberts Realty Maxus Realty Trust Subsector Totals Equity Lifestyle Properties Sun Communities American Land Lease UMH Properties Subsector Totals Sector Totals Property Sector: Diversified EQR ASN AVB AIV CPT UDR ESS BRE PPS HME MAA ACC GCT EDR AEC APRO RPI MRTI Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments ELS SUI ANL UMH Equity Equity Equity Equity Manufactured Homes Manufactured Homes Manufactured Homes Manufactured Homes 1 2 3 4 5 6 7 8 9 10 10 Vornado Realty Colonial Prop Washington Real Estate Inv Cousins Property Spirit Finance Lexington Realty Trust Investors Real Estate Trust Winthrop Realty Trust One Liberty HMG/Courtland Properties Sector Totals Property Sector: Lodging/Resorts VNO CLP WRE CUZ SFC LXP IRETS FUR OLP HMG Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 1 Host Hotels & Resorts 2 Hospitality Properties Trust HST HPT Equity Equity 33 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; May 31, 2007) Number of REITs 3 4 5 6 7 8 9 10 11 12 13 14 15 16 16 Company Diamondrock Hospitality LaSalle Hotel Properties Strategic Hotels & Resorts Sunstone Hotel Investors FelCor Lodging Ashford Hospitality Trust Highland Hospitality Equity Inns Innkeepers USA Hersha Hospitality Trust Cl A Winston Hotels Eagle Hospitality Properties Supertel Hospitality MHI Hospitality Sector Totals Property Sector: Self Storage Ticker Symbols DRH LHO BEE SHO FCH AHT HIH ENN KPA HT WXH EHP SPPR MDH Investment Sector Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Property Subsector 1 2 3 4 4 Public Storage Extra Space Storage Sovran Self Storage U-Store-It Trust Sector Totals Property Sector: Health Care PSA EXR SSS YSI Equity Equity Equity Equity 1 2 3 4 5 6 7 8 9 10 11 12 12 Health Care Prop Inv Ventas Inc Healthcare REIT Nationwide Health Properties Senior Housng Prop Trust Healthcare Realty Trust OMEGA Healthcare REIT Medical Properties Trust LTC Properties Universal Health Rlty Income COGDELL SPENCER National Health Realty Sector Totals HCP VTR HCN NHP SNH HR OHI MPW LTC UHT CSA NHR Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 34 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; May 31, 2007) Number of REITs Company Property Sector: Specialty Plum Creek Timber Co Rayonier Digital Realty Trust Potlatch Corp. REIT Entertainment Properties Trust Pittsburgh & West Virginia Railroad Sector Totals Investment Sector Totals Investment Sector: Hybrid 1 2 3 4 5 6 6 iStar Financial Natl Health Investors Capital Lease Funding PMC Commercial Trust Presidential Realty Cl B Arizona Land Income Cl A Sector Totals Property Sector: Mortgage Ticker Symbols Investment Sector Property Subsector 1 2 3 4 5 6 6 127 PCL RYN DLR PCH EPR PW Equity Equity Equity Equity Equity Equity SFI NHI LSE PCC PDL/B AZL Hybrid Hybrid Hybrid Hybrid Hybrid Hybrid 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Annaly Capital Management Thornburg Mortgage Redwood Trust American Home Mtg Crystal River Capital MFA Mortgage Alesco Financial Impac Mortgage Luminent Mortgage Capital Anworth Mortgage Asset Resource Capital Novastar Financial Capstead Mortgage Fieldstone Investment Origen Financial HomeBanc Dynex Capital Opteum New York Mortgage Trust Hanover Capital Mortgage Holdings Capital Alliance Income Trust NLY TMA RWT AHM CRZ MFA AFN IMH LUM ANH RSO NFI CMO FICC ORGN HMB DX OPX NTR HCM CAA Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing 35 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; May 31, 2007) Number of REITs Company 21 Subsector Totals 1 RAIT Financial Trust 2 3 4 5 6 7 8 9 10 11 12 13 14 14 35 Newcastle Invt Corp Friedman Billings Ramsey NorthStar Realty Finance Deerfield Triarc Capital Corp. Gramercy Capital Corp/New York Capital Trust Inc. Cl A Anthracite Capital Arbor Realty Trust JER Investors Trust CBRE Realty Finance Quadra Realty Trust Inc. BRT Realty Trust American Mortgage Acceptance Subsector Totals Sector Totals Ticker Symbols Investment Sector Property Subsector RAS NCT FBR NRF DFR GKK CT AHR ABR JRT CBF QRR BRT AMC Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing 168 Industry Total Summary of Changes: Additions Deletions KKR Financial KFN Mortgage Home Financing 1 Note: Equity market capitalization does not include operating partnership units or preferred stock. 36 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; June 30, 2007) Number of REITs Company Summary by Property Sector and Subsector Ticker Symbols Investment Sector Property Subsector 127 29 17 7 5 28 15 8 5 22 18 4 10 16 4 12 6 6 36 21 15 169 Equity REITs Industrial/Office Office Industrial Mixed Retail Shopping Centers Regional Malls Free Standing Residential Apartments Manufactured Homes Diversified Lodging/Resorts Self Storage Health Care Specialty Hybrid REITs Mortgage REITs Home Financing Commercial Financing Industry Totals Investment Sector: Equity Property Sector: Industrial/Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 17 Boston Property SL Green Realty Mack Cali Realty Douglas Emmett Alexandria Real Estate Equity Brandywine Rlty Crescent Real Estate Equity Kilroy Realty HRPT Properties Highwoods Prop Corporate Office Properties BioMed Realty Trust Maguire Properties American Financial Realty Trust Franklin Street Properties Parkway Properties Republic Property Subsector Totals BXP SLG CLI DEI ARE BDN CEI KRC HRP HIW OFC BMR MPG AFR FSP PKY RPB Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office 37 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; June 30, 2007) Number of REITs 1 2 3 4 5 6 7 7 1 2 3 4 5 5 29 Company Prologis AMB Property DCT Industrial Trust First Industrial Realty Trust Eastgroup Properties First Potomac Realty Trust Monmouth REIT Cl A Subsector Totals Duke Realty Corp Liberty Property Trust Ps Business Parks Mission West Md Gladstone Commercial Subsector Totals Sector Totals Property Sector: Retail Ticker Symbols PLD AMB DCT FR EGP FPO MNRTA Investment Sector Equity Equity Equity Equity Equity Equity Equity Property Subsector Industrial Industrial Industrial Industrial Industrial Industrial Industrial DRE LRY PSB MSW GOOD Equity Equity Equity Equity Equity Mixed Mixed Mixed Mixed Mixed 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 15 1 2 3 4 5 6 7 8 8 Kimco Realty Cp Developers Diversified Realty Regency Centers Federal Realty Invs Weingarten Realty Investors Equity One Inc Tanger Factory Outlet Center Inland Real Estate Acadia Realty Saul Centers Ramco-Gershenson Properties Cedar Shopping Centers Kite Realty Group Trust Urstadt Biddle Pptys AmReit Subsector Totals Simon Property Group General Growth Properties Macerich Taubman Centers CBL & Associates Properties Penn Real Estate Invest Glimcher Realty Trust Feldman Mall Properties Subsector Totals KIM DDR REG FRT WRI EQY SKT IRC AKR BFS RPT CDR KRG UBA AMY Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers SPG GGP MAC TCO CBL PEI GRT FMP Equity Equity Equity Equity Equity Equity Equity Equity Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls 38 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; June 30, 2007) Number of REITs 1 2 3 4 5 5 28 Company Realty Income Alexanders Inc National Retail Properties Getty Realty Agree Realty Subsector Totals Sector Totals Property Sector: Residential Ticker Symbols O ALX NNN GTY ADC Investment Sector Equity Equity Equity Equity Equity Property Subsector Free Standing Free Standing Free Standing Free Standing Free Standing 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 18 1 2 3 4 4 22 Equity Residential Archstone-Smith Trust Avalonbay Communities Apartment Inv Management Camden Property UDR BRE Properties Essex Prop Trust Post Properties Home Properties Mid-America Apartment Comm American Campus Communties GMH Communities Trust Education Realty Trust American First Apartment Investors Inc Associated Estates Realty Roberts Realty Maxus Realty Trust Subsector Totals Equity Lifestyle Properties Sun Communities American Land Lease UMH Properties Subsector Totals Sector Totals Property Sector: Diversified EQR ASN AVB AIV CPT UDR BRE ESS PPS HME MAA ACC GCT EDR APRO AEC RPI MRTI Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments ELS SUI ANL UMH Equity Equity Equity Equity Manufactured Homes Manufactured Homes Manufactured Homes Manufactured Homes 1 2 3 4 5 6 7 8 9 10 10 Vornado Realty Colonial Prop Spirit Finance Washington Real Estate Inv Cousins Property Lexington Realty Trust Investors Real Estate Trust Winthrop Realty Trust One Liberty HMG/Courtland Properties Sector Totals Property Sector: Lodging/Resorts VNO CLP SFC WRE CUZ LXP IRETS FUR OLP HMG Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 1 Host Hotels & Resorts 2 Hospitality Properties Trust HST HPT Equity Equity 39 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; June 30, 2007) Number of REITs 3 4 5 6 7 8 9 10 11 12 13 14 15 16 16 Company Diamondrock Hospitality Sunstone Hotel Investors LaSalle Hotel Properties Strategic Hotels & Resorts FelCor Lodging Ashford Hospitality Trust Equity Inns Highland Hospitality Innkeepers USA Hersha Hospitality Trust Cl A Winston Hotels Eagle Hospitality Properties Supertel Hospitality MHI Hospitality Sector Totals Property Sector: Self Storage Ticker Symbols DRH SHO LHO BEE FCH AHT ENN HIH KPA HT WXH EHP SPPR MDH Investment Sector Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Property Subsector 1 2 3 4 4 Public Storage Extra Space Storage Sovran Self Storage U-Store-It Trust Sector Totals Property Sector: Health Care PSA EXR SSS YSI Equity Equity Equity Equity 1 2 3 4 5 6 7 8 9 10 11 12 12 Health Care Prop Inv Ventas Inc Healthcare REIT Nationwide Health Properties Senior Housng Prop Trust Healthcare Realty Trust OMEGA Healthcare REIT Medical Properties Trust LTC Properties Universal Health Rlty Income COGDELL SPENCER National Health Realty Sector Totals HCP VTR HCN NHP SNH HR OHI MPW LTC UHT CSA NHR Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 40 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; June 30, 2007) Number of REITs Company Property Sector: Specialty Plum Creek Timber Co Rayonier Digital Realty Trust Potlatch Corp. REIT Entertainment Properties Trust Pittsburgh & West Virginia Railroad Sector Totals Investment Sector Totals Investment Sector: Hybrid 1 2 3 4 5 6 6 iStar Financial Natl Health Investors Capital Lease Funding PMC Commercial Trust Presidential Realty Cl B Arizona Land Income Cl A Sector Totals Property Sector: Mortgage Ticker Symbols Investment Sector Property Subsector 1 2 3 4 5 6 6 127 PCL RYN DLR PCH EPR PW Equity Equity Equity Equity Equity Equity SFI NHI LSE PCC PDL/B AZL Hybrid Hybrid Hybrid Hybrid Hybrid Hybrid 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Annaly Capital Management Thornburg Mortgage Redwood Trust American Home Mtg Crystal River Capital MFA Mortgage Luminent Mortgage Capital Alesco Financial Anworth Mortgage Asset Impac Mortgage Resource Capital Novastar Financial Capstead Mortgage Fieldstone Investment Origen Financial Dynex Capital Opteum HomeBanc Hanover Capital Mortgage Holdings New York Mortgage Trust Capital Alliance Income Trust NLY TMA RWT AHM CRZ. MFA LUM AFN ANH IMH RSO NFI CMO FICC ORGN DX OPX HMB HCM NTR CAA Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing 41 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; June 30, 2007) Number of REITs Company 21 Subsector Totals 1 RAIT Financial Trust 2 3 4 5 6 7 8 9 10 11 12 13 14 15 15 36 Newcastle Invt Corp Friedman Billings Ramsey NorthStar Realty Finance Deerfield Triarc Capital Corp. Gramercy Capital Corp/New York Anthracite Capital Capital Trust Inc. Cl A Arbor Realty Trust JER Investors Trust CBRE Realty Finance Quadra Realty Trust Inc. Care Investment Trust BRT Realty Trust American Mortgage Acceptance Subsector Totals Sector Totals Ticker Symbols Investment Sector Property Subsector RAS NCT FBR NRF DFR GKK AHR CT ABR JRT CBF QRR CRE BRT AMC Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing 169 Industry Total Summary of Changes: Additions Care Investment Trust Deletions CRE Mortgage Commercial Financing 1 Note: Equity market capitalization does not include operating partnership units or preferred stock. 42 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; July 31, 2007) Number of REITs Company Summary by Property Sector and Subsector Ticker Symbols Investment Sector Property Subsector 124 29 17 7 5 28 15 8 5 22 18 4 10 13 4 12 6 6 35 20 15 165 Equity REITs Industrial/Office Office Industrial Mixed Retail Shopping Centers Regional Malls Free Standing Residential Apartments Manufactured Homes Diversified Lodging/Resorts Self Storage Health Care Specialty Hybrid REITs Mortgage REITs Home Financing Commercial Financing Industry Totals Investment Sector: Equity Property Sector: Industrial/Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 17 Boston Property SL Green Realty Douglas Emmett Mack Cali Realty Alexandria Real Estate Equity Crescent Real Estate Equity Brandywine Rlty Kilroy Realty HRPT Properties Highwoods Prop Corporate Office Properties BioMed Realty Trust Maguire Properties American Financial Realty Trust Franklin Street Properties Parkway Properties Republic Property Subsector Totals BXP SLG DEI CLI ARE CEI BDN KRC HRP HIW OFC BMR MPG AFR FSP PKY RPB Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office 43 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; July 31, 2007) Number of REITs 1 2 3 4 5 6 7 7 1 2 3 4 5 5 29 Company Prologis AMB Property First Industrial Realty Trust DCT Industrial Trust Eastgroup Properties First Potomac Realty Trust Monmouth REIT Cl A Subsector Totals Duke Realty Corp Liberty Property Trust Ps Business Parks Mission West Md Gladstone Commercial Subsector Totals Sector Totals Property Sector: Retail Ticker Symbols PLD AMB FR DCT EGP FPO MNRTA Investment Sector Equity Equity Equity Equity Equity Equity Equity Property Subsector Industrial Industrial Industrial Industrial Industrial Industrial Industrial DRE LRY PSB MSW GOOD Equity Equity Equity Equity Equity Mixed Mixed Mixed Mixed Mixed 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 15 1 2 3 4 5 6 7 8 8 Kimco Realty Cp Developers Diversified Realty Regency Centers Federal Realty Invs Weingarten Realty Investors Equity One Inc Tanger Factory Outlet Center Inland Real Estate Saul Centers Acadia Realty Ramco-Gershenson Properties Cedar Shopping Centers Kite Realty Group Trust Urstadt Biddle Pptys AmReit Subsector Totals Simon Property Group General Growth Properties Macerich Taubman Centers CBL & Associates Properties Penn Real Estate Invest Glimcher Realty Trust Feldman Mall Properties Subsector Totals KIM DDR REG FRT WRI EQY SKT IRC BFS AKR RPT CDR KRG UBA AMY Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers SPG GGP MAC TCO CBL PEI GRT FMP Equity Equity Equity Equity Equity Equity Equity Equity Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls 44 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; July 31, 2007) Number of REITs 1 2 3 4 5 5 28 Company Realty Income Alexanders Inc National Retail Properties Getty Realty Agree Realty Subsector Totals Sector Totals Property Sector: Residential Ticker Symbols O ALX NNN GTY ADC Investment Sector Equity Equity Equity Equity Equity Property Subsector Free Standing Free Standing Free Standing Free Standing Free Standing 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 18 1 2 3 4 4 22 Archstone-Smith Trust Equity Residential Avalonbay Communities Apartment Inv Management Camden Property UDR Essex Prop Trust BRE Properties Post Properties Home Properties Mid-America Apartment Comm American Campus Communties Education Realty Trust GMH Communities Trust American First Apartment Investors Inc Associated Estates Realty Roberts Realty Maxus Realty Trust Subsector Totals Equity Lifestyle Properties Sun Communities American Land Lease UMH Properties Subsector Totals Sector Totals Property Sector: Diversified ASN EQR AVB AIV CPT UDR ESS BRE PPS HME MAA ACC EDR GCT APRO AEC RPI MRTI Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments ELS SUI ANL UMH Equity Equity Equity Equity Manufactured Homes Manufactured Homes Manufactured Homes Manufactured Homes 1 2 3 4 5 6 7 8 9 10 10 Vornado Realty Spirit Finance Colonial Prop Washington Real Estate Inv Cousins Property Lexington Realty Trust Investors Real Estate Trust Winthrop Realty Trust One Liberty HMG/Courtland Properties Sector Totals Property Sector: Lodging/Resorts VNO SFC CLP WRE CUZ LXP IRETS FUR OLP HMG Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 1 Host Hotels & Resorts 2 Hospitality Properties Trust HST HPT Equity Equity 45 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; July 31, 2007) Number of REITs 3 4 5 6 7 8 9 10 11 12 13 13 Company LaSalle Hotel Properties Diamondrock Hospitality Strategic Hotels & Resorts Sunstone Hotel Investors FelCor Lodging Ashford Hospitality Trust Equity Inns Hersha Hospitality Trust Cl A Eagle Hospitality Properties Supertel Hospitality MHI Hospitality Sector Totals Property Sector: Self Storage Ticker Symbols LHO DRH BEE SHO FCH AHT ENN HT EHP SPPR MDH Investment Sector Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Property Subsector 1 2 3 4 4 Public Storage Extra Space Storage Sovran Self Storage U-Store-It Trust Sector Totals Property Sector: Health Care PSA EXR SSS YSI Equity Equity Equity Equity 1 2 3 4 5 6 7 8 9 10 11 12 12 Health Care Prop Inv Ventas Inc Healthcare REIT Nationwide Health Properties Senior Housng Prop Trust Healthcare Realty Trust OMEGA Healthcare REIT Medical Properties Trust LTC Properties Universal Health Rlty Income National Health Realty COGDELL SPENCER Sector Totals HCP VTR HCN NHP SNH HR OHI MPW LTC UHT NHR CSA Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 46 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; July 31, 2007) Number of REITs Company Property Sector: Specialty Plum Creek Timber Co Rayonier Digital Realty Trust Potlatch Corp. REIT Entertainment Properties Trust Pittsburgh & West Virginia Railroad Sector Totals Investment Sector Totals Investment Sector: Hybrid 1 2 3 4 5 6 6 iStar Financial Natl Health Investors Capital Lease Funding PMC Commercial Trust Presidential Realty Cl B Arizona Land Income Cl A Sector Totals Property Sector: Mortgage Ticker Symbols Investment Sector Property Subsector 1 2 3 4 5 6 6 124 PCL RYN DLR PCH EPR PW Equity Equity Equity Equity Equity Equity SFI NHI LSE PCC PDL/B AZL Hybrid Hybrid Hybrid Hybrid Hybrid Hybrid 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Annaly Capital Management Thornburg Mortgage Redwood Trust MFA Mortgage Crystal River Capital Anworth Mortgage Asset Luminent Mortgage Capital Alesco Financial Resource Capital Impac Mortgage Capstead Mortgage Origen Financial Dynex Capital Novastar Financial American Home Mtg HomeBanc Opteum Hanover Capital Mortgage Holdings New York Mortgage Trust Capital Alliance Income Trust NLY TMA RWT MFA CRZ ANH LUM AFN RSO IMH CMO ORGN DX NFI AHM HMB OPX HCM NTR CAA Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing 47 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; July 31, 2007) Number of REITs Company 20 Subsector Totals 1 Newcastle Invt Corp 2 3 4 5 6 7 8 9 10 11 12 13 14 15 15 35 Friedman Billings Ramsey RAIT Financial Trust Gramercy Capital Corp/New York NorthStar Realty Finance Deerfield Triarc Capital Corp. Anthracite Capital Capital Trust Inc. Cl A Arbor Realty Trust Care Investment Trust CBRE Realty Finance JER Investors Trust Quadra Realty Trust Inc. BRT Realty Trust American Mortgage Acceptance Subsector Totals Sector Totals Ticker Symbols Investment Sector Property Subsector NCT FBR RAS GKK NRF DFR AHR CT ABR CRE CBF JRT QRR BRT AMC Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing 165 Industry Total Summary of Changes: Additions Deletions Winston Hotels Innkeepers USA Highland Hospitality Fieldstone Investment WXH KPA HIH FICC Equity Equity Equity Mortgage Lodging/Resorts Lodging/Resorts Lodging/Resorts Home Financing 1 Note: Equity market capitalization does not include operating partnership units or preferred stock. 48 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; August 31, 2007) Number of REITs Company Summary by Property Sector and Subsector Ticker Symbols Investment Sector Property Subsector 121 28 16 7 5 28 15 8 5 22 18 4 9 12 4 12 6 6 31 16 15 158 Equity REITs Industrial/Office Office Industrial Mixed Retail Shopping Centers Regional Malls Free Standing Residential Apartments Manufactured Homes Diversified Lodging/Resorts Self Storage Health Care Specialty Hybrid REITs Mortgage REITs Home Financing Commercial Financing Industry Totals Investment Sector: Equity Property Sector: Industrial/Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 16 Boston Property SL Green Realty Douglas Emmett Mack Cali Realty Alexandria Real Estate Equity Brandywine Rlty HRPT Properties Corporate Office Properties Highwoods Prop Kilroy Realty BioMed Realty Trust Maguire Properties Franklin Street Properties American Financial Realty Trust Parkway Properties Republic Property Subsector Totals BXP SLG DEI CLI ARE BDN HRP OFC HIW KRC BMR MPG FSP AFR PKY RPB Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office 49 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; August 31, 2007) Number of REITs 1 2 3 4 5 6 7 7 1 2 3 4 5 5 28 Company Prologis AMB Property First Industrial Realty Trust DCT Industrial Trust Eastgroup Properties First Potomac Realty Trust Monmouth REIT Cl A Subsector Totals Duke Realty Corp Liberty Property Trust Ps Business Parks Mission West Md Gladstone Commercial Subsector Totals Sector Totals Property Sector: Retail Ticker Symbols PLD AMB FR DCT EGP FPO MNRTA Investment Sector Equity Equity Equity Equity Equity Equity Equity Property Subsector Industrial Industrial Industrial Industrial Industrial Industrial Industrial DRE LRY PSB MSW GOOD Equity Equity Equity Equity Equity Mixed Mixed Mixed Mixed Mixed 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 15 1 2 3 4 5 6 7 8 8 Kimco Realty Cp Developers Diversified Realty Regency Centers Federal Realty Invs Weingarten Realty Investors Equity One Inc Tanger Factory Outlet Center Inland Real Estate Saul Centers Acadia Realty Cedar Shopping Centers Ramco-Gershenson Properties Kite Realty Group Trust Urstadt Biddle Pptys AmReit Subsector Totals Simon Property Group General Growth Properties Macerich Taubman Centers CBL & Associates Properties Penn Real Estate Invest Glimcher Realty Trust Feldman Mall Properties Subsector Totals KIM DDR REG FRT WRI EQY SKT IRC BFS AKR CDR RPT KRG UBA AMY Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers SPG GGP MAC TCO CBL PEI GRT FMP Equity Equity Equity Equity Equity Equity Equity Equity Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls 50 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; August 31, 2007) Number of REITs 1 2 3 4 5 5 28 Company Realty Income Alexanders Inc National Retail Properties Getty Realty Agree Realty Subsector Totals Sector Totals Property Sector: Residential Ticker Symbols O ALX NNN GTY ADC Investment Sector Equity Equity Equity Equity Equity Property Subsector Free Standing Free Standing Free Standing Free Standing Free Standing 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 18 1 2 3 4 4 22 Archstone-Smith Trust Equity Residential Avalonbay Communities Apartment Inv Management Camden Property UDR Essex Prop Trust BRE Properties Post Properties Home Properties Mid-America Apartment Comm American Campus Communties Education Realty Trust GMH Communities Trust American First Apartment Investors Inc Associated Estates Realty Roberts Realty Maxus Realty Trust Subsector Totals Equity Lifestyle Properties Sun Communities American Land Lease UMH Properties Subsector Totals Sector Totals Property Sector: Diversified ASN EQR AVB AIV CPT UDR ESS BRE PPS HME MAA ACC EDR GCT APRO AEC RPI MRTI Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments ELS SUI ANL UMH Equity Equity Equity Equity Manufactured Homes Manufactured Homes Manufactured Homes Manufactured Homes 1 2 3 4 5 6 7 8 9 9 Vornado Realty Colonial Prop Washington Real Estate Inv Cousins Property Lexington Realty Trust Investors Real Estate Trust Winthrop Realty Trust One Liberty HMG/Courtland Properties Sector Totals Property Sector: Lodging/Resorts VNO CLP WRE CUZ LXP IRETS FUR OLP HMG Equity Equity Equity Equity Equity Equity Equity Equity Equity 1 Host Hotels & Resorts 2 Hospitality Properties Trust 3 Diamondrock Hospitality HST HPT DRH Equity Equity Equity 51 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; August 31, 2007) Number of REITs 4 5 6 7 8 9 10 11 12 12 Company Sunstone Hotel Investors LaSalle Hotel Properties Strategic Hotels & Resorts FelCor Lodging Ashford Hospitality Trust Equity Inns Hersha Hospitality Trust Cl A Supertel Hospitality MHI Hospitality Sector Totals Property Sector: Self Storage Ticker Symbols SHO LHO BEE FCH AHT ENN HT SPPR MDH Investment Sector Equity Equity Equity Equity Equity Equity Equity Equity Equity Property Subsector 1 2 3 4 4 Public Storage Extra Space Storage Sovran Self Storage U-Store-It Trust Sector Totals Property Sector: Health Care PSA EXR SSS YSI Equity Equity Equity Equity 1 2 3 4 5 6 7 8 9 10 11 12 12 Health Care Prop Inv Ventas Inc Healthcare REIT Nationwide Health Properties Senior Housng Prop Trust Healthcare Realty Trust OMEGA Healthcare REIT Medical Properties Trust LTC Properties Universal Health Rlty Income National Health Realty COGDELL SPENCER Sector Totals HCP VTR HCN NHP SNH HR OHI MPW LTC UHT NHR CSA Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 52 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; August 31, 2007) Number of REITs Company Property Sector: Specialty Plum Creek Timber Co Rayonier Digital Realty Trust Potlatch Corp. REIT Entertainment Properties Trust Pittsburgh & West Virginia Railroad Sector Totals Investment Sector Totals Investment Sector: Hybrid 1 2 3 4 5 6 6 iStar Financial Natl Health Investors CapLease PMC Commercial Trust Presidential Realty Cl B Arizona Land Income Cl A Sector Totals Property Sector: Mortgage Ticker Symbols Investment Sector Property Subsector 1 2 3 4 5 6 6 121 PCL RYN DLR PCH EPR PW Equity Equity Equity Equity Equity Equity SFI NHI LSE PCC PDL/B AZL Hybrid Hybrid Hybrid Hybrid Hybrid Hybrid 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Annaly Capital Management Thornburg Mortgage Redwood Trust MFA Mortgage Crystal River Capital Alesco Financial Resource Capital Anworth Mortgage Asset Capstead Mortgage Origen Financial Impac Mortgage Dynex Capital Novastar Financial Opteum Hanover Capital Mortgage Holdings Capital Alliance Income Trust NLY TMA RWT MFA CRZ AFN RSO ANH CMO ORGN IMH DX NFI OPX HCM CAA Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing 53 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; August 31, 2007) Number of REITs Company 16 Subsector Totals 1 Newcastle Invt Corp 2 3 4 5 6 7 8 9 10 11 12 13 14 15 15 31 Friedman Billings Ramsey Gramercy Capital Corp/New York NorthStar Realty Finance Capital Trust Inc. Cl A Anthracite Capital RAIT Financial Trust Deerfield Triarc Capital Arbor Realty Trust JER Investors Trust Care Investment Trust Quadra Realty Trust Inc. BRT Realty Trust CBRE Realty Finance American Mortgage Acceptance Subsector Totals Sector Totals Ticker Symbols Investment Sector Property Subsector NCT FBR GKK NRF CT AHR RAS DFR ABR JRT CRE QRR BRT CBF AMC Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing 158 Industry Total Summary of Changes: Additions Deletions Crescent Real Estate Equity Spirit Finance Eagle Hospitality Properties American Home Mtg Luminent Mortgage Capital HomeBanc New York Mortgage Trust CEI SFC EHP AHM LUM HMB NTR Equity Equity Equity Mortgage Mortgage Mortgage Mortgage Office Diversified Lodging/Resorts Home Financing Home Financing Home Financing Home Financing 1 Note: Equity market capitalization does not include operating partnership units or preferred stock. 54 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; September 30, 2007) Number of REITs Company Summary by Property Sector and Subsector Ticker Symbols Investment Sector Property Subsector 121 28 16 7 5 28 15 8 5 22 18 4 9 12 4 12 6 5 31 15 16 157 Equity REITs Industrial/Office Office Industrial Mixed Retail Shopping Centers Regional Malls Free Standing Residential Apartments Manufactured Homes Diversified Lodging/Resorts Self Storage Health Care Specialty Hybrid REITs Mortgage REITs Home Financing Commercial Financing Industry Totals Investment Sector: Equity Property Sector: Industrial/Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 16 Boston Property SL Green Realty Alexandria Real Estate Equity Mack Cali Realty Douglas Emmett Brandywine Rlty Highwoods Prop HRPT Properties Kilroy Realty Corporate Office Properties BioMed Realty Trust Franklin Street Properties Maguire Properties American Financial Realty Trust Parkway Properties Republic Property Subsector Totals BXP SLG ARE CLI DEI BDN HIW HRP KRC OFC BMR FSP MPG AFR PKY RPB Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office 55 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; September 30, 2007) Number of REITs 1 2 3 4 5 6 7 7 1 2 3 4 5 5 28 Company Prologis AMB Property First Industrial Realty Trust DCT Industrial Trust Eastgroup Properties First Potomac Realty Trust Monmouth REIT Cl A Subsector Totals Duke Realty Corp Liberty Property Trust Ps Business Parks Mission West Md Gladstone Commercial Subsector Totals Sector Totals Property Sector: Retail Ticker Symbols PLD AMB FR DCT EGP FPO MNRTA Investment Sector Equity Equity Equity Equity Equity Equity Equity Property Subsector Industrial Industrial Industrial Industrial Industrial Industrial Industrial DRE LRY PSB MSW GOOD Equity Equity Equity Equity Equity Mixed Mixed Mixed Mixed Mixed 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 15 1 2 3 4 5 6 7 8 8 Kimco Realty Cp Developers Diversified Realty Regency Centers Federal Realty Invs Weingarten Realty Investors Equity One Inc Tanger Factory Outlet Center Inland Real Estate Saul Centers Acadia Realty Cedar Shopping Centers Ramco-Gershenson Properties Kite Realty Group Trust Urstadt Biddle Pptys AmReit Subsector Totals Simon Property Group General Growth Properties Macerich Taubman Centers CBL & Associates Properties Penn Real Estate Invest Glimcher Realty Trust Feldman Mall Properties Subsector Totals KIM DDR REG FRT WRI EQY SKT IRC BFS AKR CDR RPT KRG UBA AMY Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers SPG GGP MAC TCO CBL PEI GRT FMP Equity Equity Equity Equity Equity Equity Equity Equity Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls 56 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; September 30, 2007) Number of REITs 1 2 3 4 5 5 28 Company Realty Income Alexanders Inc National Retail Properties Getty Realty Agree Realty Subsector Totals Sector Totals Property Sector: Residential Ticker Symbols O ALX NNN GTY ADC Investment Sector Equity Equity Equity Equity Equity Property Subsector Free Standing Free Standing Free Standing Free Standing Free Standing 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 18 1 2 3 4 4 22 Archstone-Smith Trust Equity Residential Avalonbay Communities Apartment Inv Management Camden Property UDR Essex Prop Trust BRE Properties Home Properties Post Properties Colonial Prop Mid-America Apartment Comm American Campus Communties Education Realty Trust GMH Communities Trust Associated Estates Realty Roberts Realty Maxus Realty Trust Subsector Totals Equity Lifestyle Properties Sun Communities American Land Lease UMH Properties Subsector Totals Sector Totals Property Sector: Diversified ASN EQR AVB AIV CPT UDR ESS BRE HME PPS CLP MAA ACC EDR GCT AEC RPI MRTI Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments ELS SUI ANL UMH Equity Equity Equity Equity Manufactured Homes Manufactured Homes Manufactured Homes Manufactured Homes 1 2 3 4 5 6 7 8 9 9 Vornado Realty Washington Real Estate Inv Cousins Property Lexington Realty Trust Investors Real Estate Trust CapLease Winthrop Realty Trust One Liberty HMG/Courtland Properties Sector Totals Property Sector: Lodging/Resorts VNO WRE CUZ LXP IRETS LSE FUR OLP HMG Equity Equity Equity Equity Equity Equity Equity Equity Equity 1 Host Hotels & Resorts 2 Hospitality Properties Trust 3 LaSalle Hotel Properties HST HPT LHO Equity Equity Equity 57 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; September 30, 2007) Number of REITs 4 5 6 7 8 9 10 11 12 12 Company Diamondrock Hospitality Sunstone Hotel Investors Strategic Hotels & Resorts Equity Inns FelCor Lodging Ashford Hospitality Trust Hersha Hospitality Trust Cl A Supertel Hospitality MHI Hospitality Sector Totals Property Sector: Self Storage Ticker Symbols DRH SHO BEE ENN FCH AHT HT SPPR MDH Investment Sector Equity Equity Equity Equity Equity Equity Equity Equity Equity Property Subsector 1 2 3 4 4 Public Storage Extra Space Storage Sovran Self Storage U-Store-It Trust Sector Totals Property Sector: Health Care PSA EXR SSS YSI Equity Equity Equity Equity 1 2 3 4 5 6 7 8 9 10 11 12 12 HCP Ventas Inc Healthcare REIT Nationwide Health Properties Senior Housng Prop Trust Healthcare Realty Trust OMEGA Healthcare REIT Medical Properties Trust LTC Properties Universal Health Rlty Income National Health Realty COGDELL SPENCER Sector Totals HCP VTR HCN NHP SNH HR OHI MPW LTC UHT NHR CSA Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 58 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; September 30, 2007) Number of REITs Company Property Sector: Specialty Plum Creek Timber Co Rayonier Digital Realty Trust Potlatch Corp. REIT Entertainment Properties Trust Pittsburgh & West Virginia Railroad Sector Totals Investment Sector Totals Investment Sector: Hybrid 1 2 3 4 5 5 iStar Financial Natl Health Investors PMC Commercial Trust Presidential Realty Cl B Arizona Land Income Cl A Sector Totals Property Sector: Mortgage Ticker Symbols Investment Sector Property Subsector 1 2 3 4 5 6 6 121 PCL RYN DLR PCH EPR PW Equity Equity Equity Equity Equity Equity SFI NHI PCC PDL/B AZL Hybrid Hybrid Hybrid Hybrid Hybrid 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Annaly Capital Management Thornburg Mortgage Redwood Trust MFA Mortgage Crystal River Capital Alesco Financial Anworth Mortgage Asset Capstead Mortgage Origen Financial Impac Mortgage Dynex Capital Novastar Financial Bimini Capital Management Hanover Capital Mortgage Holdings Capital Alliance Income Trust NLY TMA RWT MFA CRZ AFN ANH CMO ORGN IMH DX NFI BMN HCM CAA Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing 59 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; September 30, 2007) Number of REITs Company 15 Subsector Totals 1 Newcastle Invt Corp 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 16 Friedman Billings Ramsey Gramercy Capital Corp/New York Capital Trust Inc. Cl A NorthStar Realty Finance Anthracite Capital RAIT Financial Trust Deerfield Triarc Capital Arbor Realty Trust JER Investors Trust Resource Capital Care Investment Trust Quadra Realty Trust Inc. BRT Realty Trust CBRE Realty Finance American Mortgage Acceptance Subsector Totals Ticker Symbols Investment Sector Property Subsector NCT FBR GKK CT NRF AHR RAS DFR ABR JRT RSO CRE QRR BRT CBF AMC Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing 31 Sector Totals 157 Industry Total Summary of Changes: Name Change From: Opteum To: Bimini Capital Management Category Changes From: CapLease To: From: Colonial Prop To: From: Resource Capital To: Additions Deletions American First Apartment Investors Inc APRO Equity Apartments RSO CLP LSE Hybrid Equity Equity Equity Mortgage Mortgage Diversified Diversified Apartments Home Financing Commercial Financing OPX BMN Mortgage Mortgage Home Financing Home Financing 1 Note: Equity market capitalization does not include operating partnership units or preferred stock. 60 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; October 31, 2007) Number of REITs Company Summary by Property Sector and Subsector Ticker Symbols Investment Sector Property Subsector 119 27 15 7 5 28 15 8 5 21 17 4 9 11 4 12 7 5 29 13 16 153 Equity REITs Industrial/Office Office Industrial Mixed Retail Shopping Centers Regional Malls Free Standing Residential Apartments Manufactured Homes Diversified Lodging/Resorts Self Storage Health Care Specialty Hybrid REITs Mortgage REITs Home Financing Commercial Financing Industry Totals Investment Sector: Equity Property Sector: Industrial/Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 15 Boston Property SL Green Realty Alexandria Real Estate Equity Douglas Emmett Mack Cali Realty Brandywine Rlty Kilroy Realty Highwoods Prop HRPT Properties Corporate Office Properties BioMed Realty Trust Maguire Properties Franklin Street Properties American Financial Realty Trust Parkway Properties Subsector Totals BXP SLG ARE DEI CLI BDN KRC HIW HRP OFC BMR MPG FSP AFR PKY Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office 61 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; October 31, 2007) Number of REITs 1 2 3 4 5 6 7 7 1 2 3 4 5 5 27 Company Prologis AMB Property First Industrial Realty Trust DCT Industrial Trust Eastgroup Properties First Potomac Realty Trust Monmouth REIT Cl A Subsector Totals Duke Realty Corp Liberty Property Trust Ps Business Parks Mission West Md Gladstone Commercial Subsector Totals Sector Totals Property Sector: Retail Ticker Symbols PLD AMB FR DCT EGP FPO MNRTA Investment Sector Equity Equity Equity Equity Equity Equity Equity Property Subsector Industrial Industrial Industrial Industrial Industrial Industrial Industrial DRE LRY PSB MSW GOOD Equity Equity Equity Equity Equity Mixed Mixed Mixed Mixed Mixed 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 15 1 2 3 4 5 6 7 8 8 Kimco Realty Cp Developers Diversified Realty Federal Realty Invs Regency Centers Weingarten Realty Investors Equity One Inc Tanger Factory Outlet Center Inland Real Estate Saul Centers Acadia Realty Cedar Shopping Centers Ramco-Gershenson Properties Kite Realty Group Trust Urstadt Biddle Pptys AmReit Subsector Totals Simon Property Group General Growth Properties Macerich Taubman Centers CBL & Associates Properties Penn Real Estate Invest Glimcher Realty Trust Feldman Mall Properties Subsector Totals KIM DDR FRT REG WRI EQY SKT IRC BFS AKR CDR RPT KRG UBA AMY Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers SPG GGP MAC TCO CBL PEI GRT FMP Equity Equity Equity Equity Equity Equity Equity Equity Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls 62 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; October 31, 2007) Number of REITs 1 2 3 4 5 5 28 Company Realty Income Alexanders Inc National Retail Properties Getty Realty Agree Realty Subsector Totals Sector Totals Property Sector: Residential Ticker Symbols O ALX NNN GTY ADC Investment Sector Equity Equity Equity Equity Equity Property Subsector Free Standing Free Standing Free Standing Free Standing Free Standing 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 17 1 2 3 4 4 21 Equity Residential Avalonbay Communities Apartment Inv Management Camden Property UDR Essex Prop Trust BRE Properties Post Properties Home Properties Colonial Prop Mid-America Apartment Comm American Campus Communties Education Realty Trust GMH Communities Trust Associated Estates Realty Roberts Realty Maxus Realty Trust Subsector Totals Equity Lifestyle Properties Sun Communities American Land Lease UMH Properties Subsector Totals Sector Totals Property Sector: Diversified EQR AVB AIV CPT UDR ESS BRE PPS HME CLP MAA ACC EDR GCT AEC RPI MRTI Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments ELS SUI ANL UMH Equity Equity Equity Equity Manufactured Homes Manufactured Homes Manufactured Homes Manufactured Homes 1 2 3 4 5 6 7 8 9 9 Vornado Realty Washington Real Estate Inv Cousins Property Lexington Realty Trust Investors Real Estate Trust CapLease Winthrop Realty Trust One Liberty HMG/Courtland Properties Sector Totals Property Sector: Lodging/Resorts VNO WRE CUZ LXP IRETS LSE FUR OLP HMG Equity Equity Equity Equity Equity Equity Equity Equity Equity 1 2 3 4 Host Hotels & Resorts Hospitality Properties Trust Diamondrock Hospitality Sunstone Hotel Investors HST HPT DRH SHO Equity Equity Equity Equity 63 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; October 31, 2007) Number of REITs 5 6 7 8 9 10 11 11 Company LaSalle Hotel Properties Strategic Hotels & Resorts FelCor Lodging Ashford Hospitality Trust Hersha Hospitality Trust Cl A Supertel Hospitality MHI Hospitality Sector Totals Property Sector: Self Storage Ticker Symbols LHO BEE FCH AHT HT SPPR MDH Investment Sector Equity Equity Equity Equity Equity Equity Equity Property Subsector 1 2 3 4 4 Public Storage Sovran Self Storage Extra Space Storage U-Store-It Trust Sector Totals Property Sector: Health Care PSA SSS EXR YSI Equity Equity Equity Equity 1 2 3 4 5 6 7 8 9 10 11 12 12 HCP Ventas Inc Healthcare REIT Nationwide Health Properties Senior Housng Prop Trust Healthcare Realty Trust OMEGA Healthcare REIT Medical Properties Trust LTC Properties Universal Health Rlty Income National Health Realty COGDELL SPENCER Sector Totals HCP VTR HCN NHP SNH HR OHI MPW LTC UHT NHR CSA Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 64 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; October 31, 2007) Number of REITs Company Property Sector: Specialty Plum Creek Timber Co Rayonier Digital Realty Trust Potlatch Corp. REIT Entertainment Properties Trust DuPont Fabros Technology Pittsburgh & West Virginia Railroad Sector Totals Investment Sector Totals Investment Sector: Hybrid 1 2 3 4 5 5 iStar Financial Natl Health Investors PMC Commercial Trust Presidential Realty Cl B Arizona Land Income Cl A Sector Totals Property Sector: Mortgage Ticker Symbols Investment Sector Property Subsector 1 2 3 4 5 6 7 7 119 PCL RYN DLR PCH EPR DFT PW Equity Equity Equity Equity Equity Equity Equity SFI NHI PCC PDL/B AZL Hybrid Hybrid Hybrid Hybrid Hybrid 1 2 3 4 5 6 7 8 9 10 11 12 13 Annaly Capital Management Thornburg Mortgage MFA Mortgage Redwood Trust Crystal River Capital Capstead Mortgage Anworth Mortgage Asset Alesco Financial Origen Financial Dynex Capital Impac Mortgage Hanover Capital Mortgage Holdings Capital Alliance Income Trust NLY TMA MFA RWT CRZ CMO ANH AFN ORGN DX IMH HCM CAA Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing 65 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; October 31, 2007) Number of REITs Company 13 Subsector Totals 1 Gramercy Capital Corp/New York 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 16 Newcastle Invt Corp Friedman Billings Ramsey Capital Trust Inc. Cl A NorthStar Realty Finance RAIT Financial Trust Anthracite Capital Deerfield Triarc Capital Arbor Realty Trust JER Investors Trust Care Investment Trust Resource Capital Quadra Realty Trust Inc. BRT Realty Trust CBRE Realty Finance American Mortgage Acceptance Subsector Totals Ticker Symbols Investment Sector Property Subsector GKK NCT FBR CT NRF RAS AHR DFR ABR JRT CRE RSO QRR BRT CBF AMC Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing 29 Sector Totals 153 Industry Total Summary of Changes: Additions DuPont Fabros Technology Deletions Republic Property Archstone-Smith Trust Equity Inns Bimini Capital Management Novastar Financial DFT RPB ASN ENN BMN NFI Equity Equity Equity Equity Mortgage Mortgage Specialty Office Apartments Lodging/Resorts Home Financing Home Financing 1 Note: Equity market capitalization does not include operating partnership units or preferred stock. 66 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; November 30, 2007) Number of REITs Company Summary by Property Sector and Subsector Ticker Symbols Investment Sector Property Subsector 118 27 15 7 5 28 15 8 5 21 17 4 9 11 4 11 7 5 29 13 16 152 Equity REITs Industrial/Office Office Industrial Mixed Retail Shopping Centers Regional Malls Free Standing Residential Apartments Manufactured Homes Diversified Lodging/Resorts Self Storage Health Care Specialty Hybrid REITs Mortgage REITs Home Financing Commercial Financing Industry Totals Investment Sector: Equity Property Sector: Industrial/Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 15 Boston Property SL Green Realty Alexandria Real Estate Equity Douglas Emmett Mack Cali Realty Kilroy Realty Highwoods Prop Brandywine Rlty HRPT Properties Corporate Office Properties BioMed Realty Trust Maguire Properties Franklin Street Properties American Financial Realty Trust Parkway Properties Subsector Totals BXP SLG ARE DEI CLI KRC HIW BDN HRP OFC BMR MPG FSP AFR PKY Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office 67 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; November 30, 2007) Number of REITs 1 2 3 4 5 6 7 7 1 2 3 4 5 5 27 Company Prologis AMB Property DCT Industrial Trust First Industrial Realty Trust Eastgroup Properties First Potomac Realty Trust Monmouth REIT Cl A Subsector Totals Duke Realty Corp Liberty Property Trust Ps Business Parks Mission West Md Gladstone Commercial Subsector Totals Sector Totals Property Sector: Retail Ticker Symbols PLD AMB DCT FR EGP FPO MNRTA Investment Sector Equity Equity Equity Equity Equity Equity Equity Property Subsector Industrial Industrial Industrial Industrial Industrial Industrial Industrial DRE LRY PSB MSW GOOD Equity Equity Equity Equity Equity Mixed Mixed Mixed Mixed Mixed 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 15 1 2 3 4 5 6 7 8 8 Kimco Realty Cp Developers Diversified Realty Federal Realty Invs Regency Centers Weingarten Realty Investors Equity One Inc Tanger Factory Outlet Center Saul Centers Inland Real Estate Acadia Realty Cedar Shopping Centers Ramco-Gershenson Properties Kite Realty Group Trust Urstadt Biddle Pptys AmReit Subsector Totals Simon Property Group General Growth Properties Macerich Taubman Centers CBL & Associates Properties Penn Real Estate Invest Glimcher Realty Trust Feldman Mall Properties Subsector Totals KIM DDR FRT REG WRI EQY SKT BFS IRC AKR CDR RPT KRG UBA AMY Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers SPG GGP MAC TCO CBL PEI GRT FMP Equity Equity Equity Equity Equity Equity Equity Equity Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls 68 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; November 30, 2007) Number of REITs 1 2 3 4 5 5 28 Company Realty Income Alexanders Inc National Retail Properties Getty Realty Agree Realty Subsector Totals Sector Totals Property Sector: Residential Ticker Symbols O ALX NNN GTY ADC Investment Sector Equity Equity Equity Equity Equity Property Subsector Free Standing Free Standing Free Standing Free Standing Free Standing 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 17 1 2 3 4 4 21 Equity Residential Avalonbay Communities Apartment Inv Management UDR Camden Property Essex Prop Trust BRE Properties Post Properties Home Properties Mid-America Apartment Comm Colonial Prop American Campus Communties Education Realty Trust GMH Communities Trust Associated Estates Realty Roberts Realty Maxus Realty Trust Subsector Totals Equity Lifestyle Properties Sun Communities American Land Lease UMH Properties Subsector Totals Sector Totals Property Sector: Diversified EQR AVB AIV UDR CPT ESS BRE PPS HME MAA CLP ACC EDR GCT AEC RPI MRTI Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments ELS SUI ANL UMH Equity Equity Equity Equity Manufactured Homes Manufactured Homes Manufactured Homes Manufactured Homes 1 2 3 4 5 6 7 8 9 9 Vornado Realty Washington Real Estate Inv Cousins Property Lexington Realty Trust Investors Real Estate Trust CapLease Winthrop Realty Trust One Liberty HMG/Courtland Properties Sector Totals Property Sector: Lodging/Resorts VNO WRE CUZ LXP IRETS LSE FUR OLP HMG Equity Equity Equity Equity Equity Equity Equity Equity Equity 1 2 3 4 Host Hotels & Resorts Hospitality Properties Trust Diamondrock Hospitality LaSalle Hotel Properties HST HPT DRH LHO Equity Equity Equity Equity 69 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; November 30, 2007) Number of REITs 5 6 7 8 9 10 11 11 Company Sunstone Hotel Investors Strategic Hotels & Resorts FelCor Lodging Ashford Hospitality Trust Hersha Hospitality Trust Cl A Supertel Hospitality MHI Hospitality Sector Totals Property Sector: Self Storage Ticker Symbols SHO BEE FCH AHT HT SPPR MDH Investment Sector Equity Equity Equity Equity Equity Equity Equity Property Subsector 1 2 3 4 4 Public Storage Sovran Self Storage Extra Space Storage U-Store-It Trust Sector Totals Property Sector: Health Care PSA SSS EXR YSI Equity Equity Equity Equity 1 2 3 4 5 6 7 8 9 10 11 11 HCP Ventas Inc Healthcare REIT Nationwide Health Properties Senior Housng Prop Trust Healthcare Realty Trust OMEGA Healthcare REIT LTC Properties Medical Properties Trust Universal Health Rlty Income COGDELL SPENCER Sector Totals HCP VTR HCN NHP SNH HR OHI LTC MPW UHT CSA Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 70 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; November 30, 2007) Number of REITs Company Property Sector: Specialty Plum Creek Timber Co Rayonier Digital Realty Trust Potlatch Corp. REIT Entertainment Properties Trust DuPont Fabros Technology Pittsburgh & West Virginia Railroad Sector Totals Investment Sector Totals Investment Sector: Hybrid 1 2 3 4 5 5 iStar Financial Natl Health Investors PMC Commercial Trust Presidential Realty Cl B Arizona Land Income Cl A Sector Totals Property Sector: Mortgage Ticker Symbols Investment Sector Property Subsector 1 2 3 4 5 6 7 7 118 PCL RYN DLR PCH EPR DFT PW Equity Equity Equity Equity Equity Equity Equity SFI NHI PCC PDL/B AZL Hybrid Hybrid Hybrid Hybrid Hybrid 1 2 3 4 5 6 7 8 9 10 11 12 13 Annaly Capital Management Thornburg Mortgage MFA Mortgage Redwood Trust Chimera Investment Capstead Mortgage Crystal River Capital Anworth Mortgage Asset Alesco Financial Origen Financial Dynex Capital Hanover Capital Mortgage Holdings Capital Alliance Income Trust NLY TMA MFA RWT CIM CMO CRZ ANH AFN ORGN DX HCM CAA Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing 71 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; November 30, 2007) Number of REITs Company 13 Subsector Totals 1 Gramercy Capital Corp/New York 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 16 Newcastle Invt Corp NorthStar Realty Finance Capital Trust Inc. Cl A RAIT Financial Trust Anthracite Capital Friedman Billings Ramsey Deerfield Triarc Capital Arbor Realty Trust JER Investors Trust Resource Capital Care Investment Trust CBRE Realty Finance Quadra Realty Trust Inc. BRT Realty Trust American Mortgage Acceptance Subsector Totals Ticker Symbols Investment Sector Property Subsector GKK NCT NRF CT RAS AHR FBR DFR ABR JRT RSO CRE CBF QRR BRT AMC Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing 29 Sector Totals 152 Industry Total Summary of Changes: Additions Chimera Investment Deletions National Health Realty Impac Mortgage CIM NHR IMH Mortgage Equity Mortgage Home Financing Health Care Home Financing 1 Note: Equity market capitalization does not include operating partnership units or preferred stock. 72 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; December 31, 2007) Number of REITs Company Summary by Property Sector and Subsector Ticker Symbols Investment Sector Property Subsector 118 27 15 7 5 28 15 8 5 21 17 4 9 11 4 11 7 5 29 13 16 152 Equity REITs Industrial/Office Office Industrial Mixed Retail Shopping Centers Regional Malls Free Standing Residential Apartments Manufactured Homes Diversified Lodging/Resorts Self Storage Health Care Specialty Hybrid REITs Mortgage REITs Home Financing Commercial Financing Industry Totals Investment Sector: Equity Property Sector: Industrial/Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 15 Boston Property SL Green Realty Alexandria Real Estate Equity Douglas Emmett Mack Cali Realty Kilroy Realty Highwoods Prop Brandywine Rlty HRPT Properties Corporate Office Properties BioMed Realty Trust Maguire Properties Franklin Street Properties American Financial Realty Trust Parkway Properties Subsector Totals BXP SLG ARE DEI CLI KRC HIW BDN HRP OFC BMR MPG FSP AFR PKY Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Office Office Office Office Office Office Office Office Office Office Office Office Office Office Office 73 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; December 31, 2007) Number of REITs 1 2 3 4 5 6 7 7 1 2 3 4 5 5 27 Company Prologis AMB Property DCT Industrial Trust First Industrial Realty Trust Eastgroup Properties First Potomac Realty Trust Monmouth REIT Cl A Subsector Totals Duke Realty Corp Liberty Property Trust Ps Business Parks Mission West Md Gladstone Commercial Subsector Totals Sector Totals Property Sector: Retail Ticker Symbols PLD AMB DCT FR EGP FPO MNRTA Investment Sector Equity Equity Equity Equity Equity Equity Equity Property Subsector Industrial Industrial Industrial Industrial Industrial Industrial Industrial DRE LRY PSB MSW GOOD Equity Equity Equity Equity Equity Mixed Mixed Mixed Mixed Mixed 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 15 1 2 3 4 5 6 7 8 8 Kimco Realty Cp Developers Diversified Realty Federal Realty Invs Regency Centers Weingarten Realty Investors Equity One Inc Tanger Factory Outlet Center Saul Centers Inland Real Estate Acadia Realty Cedar Shopping Centers Ramco-Gershenson Properties Kite Realty Group Trust Urstadt Biddle Pptys AmReit Subsector Totals Simon Property Group General Growth Properties Macerich Taubman Centers CBL & Associates Properties Penn Real Estate Invest Glimcher Realty Trust Feldman Mall Properties Subsector Totals KIM DDR FRT REG WRI EQY SKT BFS IRC AKR CDR RPT KRG UBA AMY Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers Shopping Centers SPG GGP MAC TCO CBL PEI GRT FMP Equity Equity Equity Equity Equity Equity Equity Equity Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls Regional Malls 74 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; December 31, 2007) Number of REITs 1 2 3 4 5 5 28 Company Realty Income Alexanders Inc National Retail Properties Getty Realty Agree Realty Subsector Totals Sector Totals Property Sector: Residential Ticker Symbols O ALX NNN GTY ADC Investment Sector Equity Equity Equity Equity Equity Property Subsector Free Standing Free Standing Free Standing Free Standing Free Standing 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 17 1 2 3 4 4 21 Equity Residential Avalonbay Communities Apartment Inv Management UDR Camden Property Essex Prop Trust BRE Properties Post Properties Home Properties Mid-America Apartment Comm Colonial Prop American Campus Communties Education Realty Trust GMH Communities Trust Associated Estates Realty Roberts Realty Maxus Realty Trust Subsector Totals Equity Lifestyle Properties Sun Communities American Land Lease UMH Properties Subsector Totals Sector Totals Property Sector: Diversified EQR AVB AIV UDR CPT ESS BRE PPS HME MAA CLP ACC EDR GCT AEC RPI MRTI Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments Apartments ELS SUI ANL UMH Equity Equity Equity Equity Manufactured Homes Manufactured Homes Manufactured Homes Manufactured Homes 1 2 3 4 5 6 7 8 9 9 Vornado Realty Washington Real Estate Inv Cousins Property Lexington Realty Trust Investors Real Estate Trust CapLease Winthrop Realty Trust One Liberty HMG/Courtland Properties Sector Totals Property Sector: Lodging/Resorts VNO WRE CUZ LXP IRETS LSE FUR OLP HMG Equity Equity Equity Equity Equity Equity Equity Equity Equity 1 2 3 4 Host Hotels & Resorts Hospitality Properties Trust Diamondrock Hospitality LaSalle Hotel Properties HST HPT DRH LHO Equity Equity Equity Equity 75 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; December 31, 2007) Number of REITs 5 6 7 8 9 10 11 11 Company Sunstone Hotel Investors Strategic Hotels & Resorts FelCor Lodging Ashford Hospitality Trust Hersha Hospitality Trust Cl A Supertel Hospitality MHI Hospitality Sector Totals Property Sector: Self Storage Ticker Symbols SHO BEE FCH AHT HT SPPR MDH Investment Sector Equity Equity Equity Equity Equity Equity Equity Property Subsector 1 2 3 4 4 Public Storage Sovran Self Storage Extra Space Storage U-Store-It Trust Sector Totals Property Sector: Health Care PSA SSS EXR YSI Equity Equity Equity Equity 1 2 3 4 5 6 7 8 9 10 11 11 HCP Ventas Inc Healthcare REIT Nationwide Health Properties Senior Housng Prop Trust Healthcare Realty Trust OMEGA Healthcare REIT LTC Properties Medical Properties Trust Universal Health Rlty Income COGDELL SPENCER Sector Totals HCP VTR HCN NHP SNH HR OHI LTC MPW UHT CSA Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity 76 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; December 31, 2007) Number of REITs Company Property Sector: Specialty Plum Creek Timber Co Rayonier Digital Realty Trust Potlatch Corp. REIT Entertainment Properties Trust DuPont Fabros Technology Pittsburgh & West Virginia Railroad Sector Totals Investment Sector Totals Investment Sector: Hybrid 1 2 3 4 5 5 iStar Financial Natl Health Investors PMC Commercial Trust Presidential Realty Cl B Arizona Land Income Cl A Sector Totals Property Sector: Mortgage Ticker Symbols Investment Sector Property Subsector 1 2 3 4 5 6 7 7 118 PCL RYN DLR PCH EPR DFT PW Equity Equity Equity Equity Equity Equity Equity SFI NHI PCC PDL/B AZL Hybrid Hybrid Hybrid Hybrid Hybrid 1 2 3 4 5 6 7 8 9 10 11 12 13 Annaly Capital Management Thornburg Mortgage MFA Mortgage Redwood Trust Chimera Investment Capstead Mortgage Crystal River Capital Anworth Mortgage Asset Alesco Financial Origen Financial Dynex Capital Hanover Capital Mortgage Holdings Capital Alliance Income Trust NLY TMA MFA RWT CIM CMO CRZ ANH AFN ORGN DX HCM CAA Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing Home Financing 77 Constituent Companies in the FTSE NAREIT All REIT Index (Ranked by property sector/subsector and equity market capitalization in millions of dollars; December 31, 2007) Number of REITs Company 13 Subsector Totals 1 Gramercy Capital Corp/New York 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 16 Newcastle Invt Corp NorthStar Realty Finance Capital Trust Inc. Cl A RAIT Financial Trust Anthracite Capital Friedman Billings Ramsey Deerfield Capital Arbor Realty Trust JER Investors Trust Resource Capital Care Investment Trust CBRE Realty Finance Quadra Realty Trust Inc. BRT Realty Trust American Mortgage Acceptance Subsector Totals Ticker Symbols Investment Sector Property Subsector GKK NCT NRF CT RAS AHR FBR DFR ABR JRT RSO CRE CBF QRR BRT AMC Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Mortgage Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing Commercial Financing 29 Sector Totals 152 Industry Total Summary of Changes: Additions Deletions 1 Note: Equity market capitalization does not include operating partnership units or preferred stock. 78 Month January Additions None Deletions Global Signal CentraCore Properties Trust MortgageIT Holdings Reckson Assoc Realty Newkirk Realty Trust REIT Ticker Investment Sector Property Sector GSL CPV MHL RA NKT Equity Equity Mortgage Equity Equity Specialty Specialty Home Financing Office Diversified February Additions None Deletions Equity Office Properties Tr Trustreet Properties EOP TSY Equity Equity Office Free Standing March Additions None Deletions Columbia Equity Trust BNP Residential Properties New Century Financial ECC Capital Corp COE BNP NEW ECR Equity Equity Mortgage Mortgage Office Apartments Home Financing Home Financing Name Change From United Dominion Realty Trust, Inc. To UDR, Inc. UDR UDR April Additions Quadra Realty Trust Inc. Deletions Government Property Trust New Plan Excel Mills Corp Longview Fibre QRR GPT NXL MLS LFB Mortgage Equity Equity Equity Equity Commercial Financing Office Shopping Centers Regional Malls Specialty May Additions None Deletions KKR Financial KFN Mortgage Home Financing June Additions Care Investment Trust Deletions None CRE Mortgage Commercial Financing July Additions None Deletions Winston Hotels Innkeepers USA Highland Hospitality Fieldstone Investment WXH KPA HIH FICC Equity Equity Equity Mortgage Lodging/Resorts Lodging/Resorts Lodging/Resorts Home Financing August Additions None Deletions Crescent Real Estate Equity Spirit Finance Eagle Hospitality Properties American Home Mtg Luminent Mortgage Capital HomeBanc New York Mortgage Trust CEI SFC EHP AHM LUM HMB NTR Equity Equity Equity Mortgage Mortgage Mortgage Mortgage Office Diversified Lodging/Resorts Home Financing Home Financing Home Financing Home Financing September Name Change From: Opteum To: Bimini Capital Management Category Changes From: CapLease To: From: Colonial Prop To: From: Resource Capital To: Additions None OPX BMN Mortgage Mortgage Home Financing Home Financing LSE Hybrid Equity Diversified Diversified Apartments Home Financing Commercial Financing CLP Equity Equity Mortgage Mortgage RSO Deletions American First Apartment Investors Inc APRO Equity Apartments October Additions DuPont Fabros Technology Deletions Republic Property Archstone-Smith Trust Equity Inns Bimini Capital Management Novastar Financial DFT RPB ASN ENN BMN NFI CIM NHR IMH Equity Equity Equity Equity Mortgage Mortgage Mortgage Equity Mortgage Specialty Office Apartments Lodging/Resorts Home Financing Home Financing Home Financing Health Care Home Financing November Additions Chimera Investment Deletions National Health Realty Impac Mortgage December Additions None Deletions None