Below is a ranking of the top 50 REITs by equity market cap as of 8/15/01. This monthly ranking is provided by SNL Securities, Charlottesville, Va. (804) 977-1600. Look for REIT updates online at www.nreionline.com.

TOP 50 REITs by Implied Market Cap (includes common stock and operating units)
REIT NAME Symbol Property
Focus
8/15/01
Price $
1 Yr Total
Return %
Equity Mkt Cap
(Millions)
Implied Mkt Cap
(Millions)
1 Equity Office Properties Trust EOP Office 31.92 11.2 13,186.9 15,008.4
2 Equity Residential Prop Trust EQR Residential 58.53 22.4 7,880.0 8,582.5
3 Simon Property Group Inc SPG Retail 30.18 31.8 5,179.1 7,137.4
4 Boston Properties Inc BXP Office 40.68 1.4 3,675.5 4,504.6
5 ProLogis Trust PLD Industrial 22.98 2.4 4,000.5 4,117.4
6 Public Storage Inc PSA Self-Storage 34.25 45.6 4,107.8 4,116.0
7 Apartment Investmt & Mgmt Co AIV Residential 47.00 23.4 3,483.4 3,931.8
8 Vornado Realty Trust VNO Div/Other 40.55 7.2 3,595.2 3,899.0
9 Duke Realty Corp DRE Office 25.25 9.5 3,277.4 3,751.0
10 Host Marriott Corp HMT Hotel 13.10 28.1 3,438.0 3,738.0
11 AvalonBay Communities Inc AVB Residential 50.00 12.9 3,404.1 3,437.7
12 Crescent Real Estate Equities Co CEI Office 24.74 19.2 2,688.4 3,341.8
13 Archstone Communities Trust ASN Residential 26.60 9.6 3,228.7 3,254.0
14 Kimco Realty Corp KIM Retail 49.74 29.5 3,188.1 3,188.1
15 General Growth Properties Inc GGP Retail 38.12 19.7 1,999.6 2,745.7
16 AMB Property Corp AMB Industrial 26.53 16.4 2,254.9 2,393.6
17 Liberty Property Trust LRY Industrial 30.49 16.4 2,221.3 2,342.9
18 CarrAmerica Realty Corp CRE Office 33.10 17.8 2,070.9 2,262.7
19 Charles E. Smith Res Realty Inc SRW Residential 52.18 30.3 1,322.4 2,007.3
20 Rouse Co RSE Retail 29.00 17.1 2,002.9 2,002.9
21 Plum Creek Timber Co Inc PCL Land 29.06 24.9 1,992.7 1,992.7
22 Health Care Prop Investors Inc HCP Health Care 35.15 38.5 1,943.2 1,972.9
23 Mack-Cali Realty Corp CLI Office 29.10 18.5 1,638.6 1,870.1
24 Arden Realty Inc ARI Office 27.12 11.1 1,729.1 1,787.8
25 Hospitality Properties Trust HPT Hotel 28.31 29.8 1,769.8 1,769.8
26 Camden Property Trust CPT Residential 38.44 33.5 1,565.9 1,661.8
27 Post Properties Inc PPS Residential 37.91 -7.9 1,461.3 1,657.2
28 Reckson Associates Realty Corp RA Industrial 23.65 -4.6 1,430.0 1,610.8
29 New Plan Excel Realty Trust Inc NXL Retail 17.78 41.4 1,550.6 1,576.9
30 BRE Properties Inc BRE Residential 32.35 6.3 1,505.5 1,567.0
31 Weingarten Realty Investors WRI Retail 48.21 23.3 1,562.3 1,562.3
32 CBL & Associates Properties Inc CBL Retail 31.25 34.2 798.4 1,560.4
33 Highwoods Properties Inc HIW Office 25.30 10.6 1,361.6 1,554.4
34 First Industrial Realty Trust Inc FR Industrial 33.14 16.8 1,311.9 1,547.5
35 United Dominion Rlty Trust Inc UDR Residential 14.20 42.2 1,420.7 1,531.4
36 Regency Centers Corp REG Retail 25.48 19.7 1,467.0 1,506.9
37 Mission West Properties Inc MSW Office 13.55 23.3 231.5 1,377.1
38 FelCor Lodging Trust Inc FCH Hotel 21.19 4.3 1,122.6 1,313.6
39 Westfield America Inc WEA Retail 16.02 13.9 1,259.5 1,308.8
40 Cousins Properties Inc CUZ Div/Other 25.48 -7.0 1,267.3 1,267.3
41 Home Properties of N.Y. Inc HME Residential 31.12 13.2 680.2 1,179.8
42 Storage USA Inc SUS Self-Storage 38.68 38.5 1,059.1 1,179.1
43 HRPT Properties Trust HRP Office 8.99 42.0 1,174.5 1,174.5
44 Taubman Centers Inc TCO Retail 14.01 39.0 714.8 1,160.8
45 Macerich Co MAC Retail 25.25 26.0 856.8 1,139.6
46 CenterPoint Properties Trust CNT Industrial 49.19 16.9 1,116.0 1,116.0
47 Essex Property Trust Inc ESS Residential 53.37 11.2 985.9 1,108.1
48 Healthcare Realty Trust Inc HR Health Care 26.58 52.9 1,079.0 1,079.0
49 Prentiss Properties Trust PP Office 27.95 16.9 1,023.9 1,069.4
50 Developers Diversified Rlty Corp DDR Retail 18.7 35.7 1,032.3 1,052.0