Web Winners |

Posted: July 15, 2007

The shine is off real estate investment trusts, or REITs, whose returns have been falling after years of hefty gains. But a review of Web resources about REITs might get us ready to hop the next wave, when it comes.

National association. Ever hopeful, the National Association of Real Estate Investment Trusts posts reports showing that office rents are still rising, and that, anyway, real estate is less volatile than some other sectors of the economy. The site has a package of FAQs to explain how REIT investing works and to teach the lingo, with definitions of such terms as "downREIT," "UPREIT" and the ever popular "EBITDA."

Hoover's list. Yes, it is a long Web address, but it is worth looking up. Hoover's is a venerable compendium of corporate information, and this page provides a starting point for investigating individual real estate investment trusts, such as the giant shopping mall owner Simon Property Group Inc., Sam "grave dancer" Zell's Equity Office Properties Trust, and big Manhattan landlord Vornado Realty Trust.

real-estate-investment-trusts-(reits)/ --HICID__1503--/free-ind-factsheet. xhtml

This site offers another way to survey the wide world of REITs for basic information, phone numbers and ticker symbols. You can narrow listings by state and city.

www.manta.com/mb_34_A131E_000/ real_estate_investment_trusts

SEC site. The Securities and Exchange Commission explains three basic kinds of REITs - equity, mortgage and hybrid. Hundreds of the trusts are publicly traded, and this site tells how to look them up in the government's Edgar database, which holds corporate filings for public scrutiny.

Beginner's guide. More categories of REITs are mentioned here - residential, retail and office REITs, as well as health-care, self-storage and resort REITs. Their ins and outs are covered well if you need a working knowledge of the industry.

Contact staff writer Reid Kanaley at 215-854-5114 or rkanaley@phillynews.com.

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