Below is a ranking of the top 50 REITs by equity market cap as of 3/20/01. 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
3/20/01
Price $
1 Yr Total
Return %
Equity Mkt Cap
(Millions)
Implied Mkt Cap
(Millions)
1 Equity Office Properties Trust EOP Office 29.08 23.2 8,926.6 10,149.7
2 Equity Residential Prop Trust EQR Residential 54.08 45.2 7,181.3 7,853.5
3 Simon Property Group Inc SPG Retail 25.00 17.8 4,298.6 5,922.8
4 Boston Properties Inc BXP Office 39.50 34.3 3,421.9 4,364.4
5 Spieker Properties Inc SPK Office 56.29 38.1 3,710.9 4,207.7
6 Vornado Realty Trust VNO Div/Other 37.05 23.0 3,216.3 3,487.7
7 ProLogis Trust PLD Industrial 20.38 14.6 3,368.6 3,472.2
8 Duke-Weeks Realty Corp DRE Office 23.25 39.2 2,974.4 3,415.7
9 Host Marriott Corporation HMT Hotel 11.98 45.3 2,651.2 3,408.3
10 AvalonBay Communities Inc AVB Residential 48.74 47.4 3,274.9 3,307.6
11 Apartment Invest and Mgmt Co AIV Residential 41.00 25.6 2,924.8 3,266.8
12 Public Storage Inc PSA Self-Storage 25.67 25.2 3,227.3 3,233.4
13 Archstone Communities Trust ASN Residential 25.10 36.6 3,025.1 3,048.9
14 Crescent Real Estate Equities Co CEI Office 21.32 34.6 2,288.7 2,885.3
15 Kimco Realty Corporation KIM Retail 42.58 25.5 2,693.2 2,693.2
16 General Growth Properties Inc GGP Retail 34.40 25.6 1,724.6 2,398.7
17 AMB Property Corporation AMB Industrial 24.41 24.3 2,053.8 2,196.1
18 CarrAmerica Realty Corp CRE Office 29.15 47.7 1,895.3 2,072.7
19 Liberty Property Trust LRY Industrial 27.25 28.6 1,858.8 1,980.1
20 Health Care Property Invest Inc HCP Health Care 33.50 44.0 1,707.8 1,733.3
21 Mack-Cali Realty Corporation CLI Office 26.69 21.3 1,519.3 1,731.9
22 Rouse Company RSE Retail 25.09 25.8 1,724.5 1,724.5
23 Plum Creek Timber Co Inc PCL Land 24.88 11.2 1,706.1 1,706.1
24 Highwoods Properties Inc HIW Office 25.45 32.0 1,479.3 1,678.5
25 Post Properties Inc PPS Residential 36.99 2.4 1,465.1 1,656.7
26 Arden Realty Inc ARI Office 23.85 22.9 1,518.0 1,569.8
27 Charles E Smith Resi Rlty Inc SRW Residential 44.25 30.1 969.8 1,567.4
28 Hospitality Properties Trust HPT Hotel 26.61 49.2 1,502.7 1,502.7
29 First Industrial Realty Trust Inc FR Industrial 32.26 25.3 1,240.4 1,473.4
30 BRE Properties Inc BRE Residential 29.65 20.8 1,373.6 1,441.4
31 FelCor Lodging Trust Inc FCH Hotel 23.50 48.9 1,234.0 1,436.0
32 Reckson Associates Realty Corp RA Industrial 22.40 27.7 1,256.0 1,428.4
33 New Plan Excel Realty Trust Inc NXL Retail 15.98 33.8 1,393.5 1,417.2
34 Regency Centers Corporation REG Retail 23.87 30.5 1,370.8 1,410.4
35 Camden Property Trust CPT Residential 32.75 29.9 1,276.9 1,360.2
36 United Dominion Rlty Trust Inc UDR Residential 12.24 36.0 1,240.5 1,331.7
37 Weingarten Realty Investors WRI Retail 41.25 20.2 1,297.1 1,297.1
38 Franch Finance Corp of America FFA Restaurant 22.60 4.3 1,278.3 1,278.3
39 Mission West Properties Inc MSW Industrial 12.90 54.4 219.6 1,273.1
40 Westfield America Inc WEA Retail 16.53 34.3 1,212.6 1,263.4
41 Cousins Properties Incorporated CUZ Div/Other 24.98 6.8 1,229.3 1,229.3
42 HRPT Properties Trust HRP Office 8.19 15.9 1,080.7 1,080.7
43 Essex Property Trust Inc ESS Residential 51.04 49.2 952.2 1,061.2
44 CenterPoint Properties Trust CNT Industrial 46.95 34.3 1,046.2 1,046.2
45 Home Prop of New York Inc HME Residential 27.75 8.7 598.5 1,038.4
46 Storage USA Inc SUS Self-Storage 33.24 14.6 898.1 1,011.8
47 Taubman Centers Inc TCO Retail 12.10 15.5 616.9 1,002.1
48 CBL & Associates Properties Inc CBL Retail 26.53 37.9 665.0 982.9
49 Chateau Communities Inc CPJ Residential 30.40 32.2 867.4 976.6
50 Prentiss Properties Trust PP Office 24.85 25.2 909.1 950.7