Below is a ranking of the top 50 REITs by equity market cap as of 3/22/02. This monthly ranking is provided by SNL Securities, Charlottesville, Va. (434) 977-1600. Look for REIT updates online at nreionline.com.

TOP 50 REITs by Implied Market Cap (includes common stock and operating partnership units)
REIT Name Symbol Property Focus 3/22/02 Price $ 1 Yr Total Return % Dividend yield % Implied Mkt Cap (Millions)
1 Equity Office Properties Trust EOP Office 30.18 13.9 6.6 14,216.0
2 Equity Residential Properties Trust EQR Residential 29.08 18.3 6.0 9,256.6
3 Simon Property Group Inc SPG Retail 32.69 39.5 6.4 7,666.9
4 Plum Creek Timber Co Inc PCL Land 29.73 35.4 7.7 5,465.1
5 Archstone-Smith Trust ASN Residential 26.88 16.7 6.3 5,398.7
6 Vornado Realty Trust VNO Div/Other 44.50 34.3 5.9 4,935.7
7 Public Storage Inc PSA Self-Storage 37.40 54.2 4.8 4,548.1
8 Boston Properties Inc BXP Office 39.40 10.2 5.9 4,375.1
9 ProLogis Trust PLD Industrial 23.48 24.0 6.1 4,248.7
10 Apartment Investment & Mgmt Co AIV Residential 48.02 25.8 6.8 4,139.7
11 Duke Realty Corp DRE Office 26.17 25.6 6.9 3,894.1
12 General Growth Properties Inc GGP Retail 44.35 38.6 5.9 3,618.5
13 AvalonBay Communities Inc AVB Residential 50.29 11.9 5.6 3,501.2
14 Kimco Realty Corp KIM Retail 33.06 25.1 6.3 3,448.4
15 Host Marriott Corp HMT Hotel 12.00 9.7 0.0 3,429.6
16 Crescent Real Estate Equities Co CEI Office 19.13 -3.5 7.8 2,788.1
17 Rouse Co RSE Retail 30.71 28.8 5.1 2,642.2
18 Liberty Property Trust LRY Industrial 32.74 30.4 7.2 2,555.0
19 AMB Property Corp AMB Industrial 27.56 21.3 6.0 2,447.1
20 Health Care Property Investors Inc HCP Health Care 40.23 31.1 8.0 2,355.5
21 Mack-Cali Realty Corp CLI Office 34.30 43.8 7.2 2,225.3
22 Hospitality Properties Trust HPT Hotel 33.83 41.3 8.4 2,114.9
23 New Plan Excel Realty Trust Inc NXL Retail 20.24 41.9 8.2 1,939.7
24 CBL & Associates Properties Inc CBL Retail 35.50 44.0 6.3 1,917.5
25 Arden Realty Inc ARI Office 28.50 28.9 7.1 1,879.2
26 CarrAmerica Realty Corp CRE Office 31.71 19.9 6.3 1,854.0
27 United Dominion Realty Trust Inc UDR Residential 15.61 37.7 7.1 1,775.8
28 Weingarten Realty Investors WRI Retail 50.95 35.9 6.5 1,752.0
29 Regency Centers Corp REG Retail 29.25 35.0 7.0 1,745.2
30 Camden Property Trust CPT Residential 39.05 27.1 6.5 1,741.4
31 Highwoods Properties Inc HIW Office 27.85 25.3 8.4 1,679.2
32 Reckson Associates Realty Corp RA Office 24.26 19.0 7.0 1,655.0
33 First Industrial Realty Trust Inc FR Industrial 34.60 19.4 7.9 1,588.8
34 BRE Properties Inc BRE Residential 32.02 16.9 6.1 1,519.3
35 Post Properties Inc PPS Residential 34.80 3.1 9.0 1,459.5
36 Developers Diversified Realty Corp DDR Retail 21.07 63.2 7.2 1,424.2
37 Home Properties of New York Inc HME Residential 34.02 33.5 7.1 1,417.2
38 Macerich Co MAC Retail 29.61 52.7 7.4 1,392.3
39 Mission West Properties Inc MSW Office 13.10 12.3 7.3 1,350.5
40 Storage USA Inc SUS Self-Storage 43.12 40.9 6.6 1,349.9
41 Cousins Properties Inc CUZ Div/Other 26.99 18.3 5.5 1,334.0
42 FelCor Lodging Trust Inc FCH Hotel 21.41 4.0 0.9 1,327.3
43 Mills Corp MLS Retail 27.88 50.0 7.9 1,286.4
44 Healthcare Realty Trust Inc HR Health Care 30.50 43.3 7.7 1,277.3
45 Taubman Centers Inc TCO Retail 15.17 35.8 6.7 1,251.6
46 CenterPoint Properties Trust CNT Industrial 54.10 22.1 4.3 1,231.0
47 Chelsea Property Group Inc CPG Retail 54.08 37.8 6.0 1,187.6
48 Prentiss Properties Trust PP Office 29.62 31.1 7.2 1,159.7
49 HRPT Properties Trust HRP Office 8.95 20.8 8.9 1,152.8
50 Shurgard Storage Centers Inc SHU Self-Storage 34.20 42.1 6.1 1,150.0