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Commercial Real Estate

REIT Stocks: Time for Turnaround?

April 20, 1999

Shares of many real estate investment trusts jumped last week as investors returned to this long-neglected market sector. Here's how stocks of 28 Southland-based REITs performed last week, their 52-week high and low prices, and current dividend yields. Note that the yields are based on dividends paid over the last year and may not necessarily reflect what the REIT expects to pay going forward.

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Ticker April 9 Monday Chg. since REIT symbol close close April 9 Low* IndyMac Mortgage NDE $11.75 $14.00 +19.1% $7.38 Holdings Kilroy Realty KRC 19.81 22.88 +15.5 18.50 Public Storage PSA 23.69 27.25 +15.0 22.63 Arden Realty ARI 21.81 24.63 +12.9 19.75 Pacific Gulf PAG 18.00 20.25 +12.5 16.25 Properties Macerich MAC 22.44 24.88 +10.9 21.25 Health Care Property HCP 28.69 31.63 +10.2 26.50 Investors Center Trust CTA 10.63 11.56 +8.7 9.13 American Residential INV 7.50 8.06 +7.5 3.63 Investment Nationwide Health NHP 18.75 20.06 +7.0 16.75 Properties Burnham Pacific BPP 10.13 10.81 +6.7 9.50 Properties Alexandria Real Estate ARE 25.50 26.94 +5.6 24.88 Equities LTC Properties LTC 11.56 12.19 +5.4 10.60 G&L Realty GLR 11.38 11.94 +4.9 11.13 Realty Income O 21.75 22.78 +4.7 20.31 New Plan Excel Realty NXL 19.19 20.00 +4.2 18.13 Trust National Golf TEE 23.13 24.06 +4.0 21.19 Properties PS Business Parks PSB 22.06 22.94 +4.0 18.00 Apex Mortgage AXM 12.31 12.50 +1.5 7.13 Capital Pan Pacific Retail PNP 17.81 18.06 +1.4 16.50 Properties IMPAC Mortgage Holdings IMH 4.94 5.00 +1.2 2.75 IMPAC Commercial ICH 5.38 5.44 +1.1 1.88 Holdings Imperial Credit ICMI 8.66 8.75 +1.0 6.50 Commercial Mortgage Irvine Apartment IAC 33.19 33.31 +0.4 23.00 Communities People's Preferred PPCCP 24.88 24.88 +0.0 24.88 Capital Westfield America WEA 16.63 16.56 -0.4 14.88 Sunstone Hotel SSI 9.38 9.31 -0.7 6.50 Investors Price Enterprises PRENP 14.50 14.38 -0.8 12.88

Div. REIT High* yield IndyMac Mortgage $25.44 10.13% Holdings Kilroy Realty 27.75 7.47 Public Storage 31.13 3.31 Arden Realty 28.75 7.36 Pacific Gulf 23.06 8.88 Properties Macerich 29.63 7.90 Health Care Property 37.88 8.79 Investors Center Trust 16.75 12.59 American Residential 12.75 10.14 Investment Nationwide Health 25.38 9.41 Properties Burnham Pacific 14.88 9.77 Properties Alexandria Real Estate 34.50 0.06 Equities LTC Properties 20.31 13.57 G&L Realty 18.06 13.57 Realty Income 27.38 9.00 New Plan Excel Realty 25.63 7.98 Trust National Golf 31.50 7.28 Properties PS Business Parks 26.63 4.47 Apex Mortgage 13.50 9.75 Capital Pan Pacific Retail 22.50 8.95 Properties IMPAC Mortgage Holdings 17.25 31.67 IMPAC Commercial 16.75 34.29 Holdings Imperial Credit 16.50 12.89 Commercial Mortgage Irvine Apartment 33.75 4.62 Communities People's Preferred 26.38 9.75 Capital Westfield America 18.44 8.72 Sunstone Hotel 16.13 12.16 Investors Price Enterprises 15.25 9.61

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*52-week range

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