REITs Remain Resilient: Mall traffic is down because of retail bankruptcies and a strapped consumer, but Jay Rosenberg, portfolio manager for the five-star First American Real Estate Fund, says REITs will remain resilient. Here are his top real estate plays.

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Real Estate

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Q: What are some of your top holdings?

A: In the realty income fund, our top five are Simon Property Group [SPG], ProLogis [PLD], Public Storage [PSA], Boston Properties [BXP] and Kimco Realty [KIM].

From Barron's 8-6-07:

Buy 2 - Price 94.98 on July 31
by UBS Investment Research
"This real-estate investment trust's portfolio...of Class-A office properties includ[es] two hotels...Its strategy to sell assets and reinvest the proceeds into higher-yielding developments and debt reduction should accelerate earnings growth in '09 and beyond. Rents continue to rise in BXP's markets...BXP trades at [a] 27% discount to our '08 [estimated net asset value]. Target: 117...."

Upgraded by KeyBanc from Underweight to Hold

Dvd Yield: 6.9%

Downgraded by Stifel Nicolaus from Buy to Hold

Upgraded by Deutsche Securities from Hold to Buy

Upgraded by RBC Capital Mkts from Underperform to Sector Perform