REITRating™ is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating™ is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.
| Overall REITRating™ Score | REIT Symbol | Dividend Payment Growth | Dividend Payment Consistency | Payout Ratio Health | Payout Ratio Trend | AFFO Trend | Interest Coverage Health | Interest Coverage Health Trend | Total Debt Interest Rate Competitiveness | Total Debt Interest Rate Trend | Debt Leverage Health | Debt Leverage Health Trend | Revenues Growth | Total Asset Growth | Occupancy Health Level | Occupancy Trend | Portfolio of Properties | Tenants | AFFO to Revenue Health | Operating Expense Efficiency | Operating Expense Efficiency Trend | Market Cap Strength |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 7.5 | American Assets Trust, Inc. (AAT) | 8.0 | 10.0 | 9.0 | 8.0 | 10.0 | 6.0 | 0.0 | 8.0 | 8.0 | 6.0 | 7.0 | 6.0 | 5.0 | 8.0 | 9.0 | N/A | 9.0 | 6.0 | 7.0 | 8.0 | 3.0 |
| 6.8 | Arbor Realty Trust, Inc. (ABR) | 10.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 1.0 | 7.0 | 10.0 | 4.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.0 |
| 4.2 | Ares Commercial Real Estate Corp (ACRE) | 0.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 3.0 | 4.0 | 8.0 | 3.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 8.4 | Agree Realty Corp. (ADC) | 1.0 | 10.0 | 10.0 | 9.0 | 9.0 | 9.0 | 0.0 | 9.0 | 6.0 | 9.0 | 9.0 | 10.0 | 10.0 | 10.0 | 9.0 | N/A | 7.0 | 9.0 | 9.0 | 9.0 | 9.0 |
| 3.0 | AGNC Investment Corp. (AGNC) | 0.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 0.0 | 3.0 | 3.0 | 10.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 6.0 |
| 7.4 | Armada Hoffler Properties, Inc. (AHH) | 8.0 | 10.0 | 9.0 | 10.0 | 9.0 | 6.0 | 0.0 | 10.0 | N/A | 3.0 | 4.0 | 10.0 | 9.0 | 8.0 | 7.0 | N/A | 10.0 | 5.0 | 5.0 | 7.0 | 2.0 |
| 5.7 | Braemar Hotels & Resorts, Inc (BHR) | N/A | 10.0 | N/A | 1.0 | N/A | N/A | 0.0 | N/A | N/A | 5.0 | 8.0 | 6.0 | 5.0 | 5.0 | 6.0 | N/A | 10.0 | N/A | 4.0 | 8.0 | N/A |
| 2.4 | Ashford Hospitality Trust, Inc. (AHT) | 0.0 | 0.0 | N/A | N/A | N/A | 0.0 | 0.0 | 0.0 | 5.0 | 0.0 | 3.0 | 6.0 | 4.0 | 5.0 | 5.0 | N/A | 10.0 | N/A | 4.0 | 8.0 | 1.0 |
| 6.7 | Apartment Investment & Management Co. (Aimco) (AIV) | N/A | 10.0 | N/A | N/A | N/A | 4.0 | 0.0 | 10.0 | 10.0 | 1.0 | 3.0 | 7.0 | 5.0 | 9.0 | 10.0 | N/A | 10.0 | N/A | 6.0 | 8.0 | 6.0 |
| 7.7 | Acadia Realty Trust (AKR) | 9.0 | 10.0 | N/A | 10.0 | 8.0 | N/A | 0.0 | N/A | N/A | 6.0 | 9.0 | 7.0 | 5.0 | 8.0 | 8.0 | N/A | 7.0 | 7.0 | 5.0 | 7.0 | 8.0 |
| 5.1 | Alexander's Inc. (ALX) | 3.0 | 10.0 | N/A | 0.0 | 8.0 | 3.0 | 0.0 | 4.0 | 2.0 | 1.0 | 7.0 | 9.0 | 6.0 | 8.0 | 10.0 | N/A | 4.0 | 7.0 | 7.0 | 9.0 | 6.0 |
| 8.7 | AMH (AMH) | 8.0 | 10.0 | 9.0 | 9.0 | 10.0 | 9.0 | 0.0 | 10.0 | 9.0 | 8.0 | 9.0 | 9.0 | 8.0 | 8.0 | 7.0 | N/A | N/A | 7.0 | 7.0 | 9.0 | 6.0 |
| 7.7 | American Tower Corp (AMT) | 10.0 | 10.0 | 9.0 | 8.0 | 10.0 | 9.0 | 0.0 | 10.0 | 7.0 | 0.0 | 3.0 | 7.0 | 5.0 | N/A | N/A | N/A | 7.0 | 7.0 | 8.0 | 9.0 | 7.0 |
| 8.3 | Apple Hospitality REIT, Inc. (APLE) | 8.0 | 10.0 | 9.0 | 10.0 | 9.0 | N/A | 0.0 | N/A | N/A | 9.0 | 9.0 | 8.0 | 7.0 | 7.0 | 8.0 | N/A | 10.0 | 6.0 | 6.0 | 8.0 | 3.0 |
| 8.4 | Alexandria Real Estate Equities, Inc. (ARE) | 8.0 | 10.0 | 9.0 | 6.0 | 10.0 | 10.0 | 0.0 | 10.0 | 6.0 | 7.0 | 8.0 | 9.0 | 8.0 | 8.0 | 9.0 | N/A | N/A | 7.0 | 8.0 | 9.0 | 2.0 |
| 4.4 | Apollo Commercial Real Estate Finance, Inc. (ARI) | 0.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 2.0 | 4.0 | 10.0 | 5.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 4.0 |
| 6.5 | Armour Residential REIT Inc. (ARR) | 8.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 0.0 | 3.0 | 10.0 | 10.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 10.0 |
| 8.5 | AvalonBay Communities, Inc. (AVB) | 6.0 | 10.0 | 9.0 | 8.0 | 9.0 | 10.0 | 0.0 | 10.0 | 10.0 | 8.0 | 9.0 | 8.0 | 7.0 | 8.0 | 8.0 | N/A | N/A | 7.0 | 8.0 | 9.0 | 5.0 |
| 5.7 | Brandywine Realty Trust (BDN) | 0.0 | 10.0 | 10.0 | 10.0 | N/A | 2.0 | 0.0 | 7.0 | 6.0 | 5.0 | 6.0 | 6.0 | 5.0 | 7.0 | 6.0 | N/A | 9.0 | 6.0 | 6.0 | 7.0 | 3.0 |
| 6.9 | Saul Centers, Inc. (BFS) | 5.0 | 10.0 | 10.0 | 10.0 | 8.0 | 5.0 | 0.0 | 9.0 | 8.0 | 1.0 | 4.0 | 7.0 | 9.0 | 8.0 | 9.0 | N/A | 8.0 | 6.0 | 8.0 | 8.0 | 4.0 |
| 8.0 | Brixmor Property Group, Inc. (BRX) | 10.0 | 10.0 | 9.0 | 8.0 | 9.0 | 7.0 | 0.0 | 9.0 | 9.0 | 5.0 | 8.0 | 6.0 | 5.0 | 8.0 | 9.0 | N/A | 8.0 | 7.0 | 8.0 | 9.0 | 7.0 |
| 4.6 | Blackstone Mortgage Trust, Inc. (BXMT) | 0.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 1.0 | 7.0 | 10.0 | 5.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 7.0 |
| 6.4 | Boston Properties (BXP) | 3.0 | 10.0 | 9.0 | 8.0 | 8.0 | 4.0 | 0.0 | 10.0 | 5.0 | 2.0 | 4.0 | 8.0 | 9.0 | 7.0 | 6.0 | N/A | 10.0 | 7.0 | 7.0 | 7.0 | 5.0 |
| 5.9 | CBL Properties (CBL) | N/A | 10.0 | 7.0 | 8.0 | 8.0 | 3.0 | 0.0 | 5.0 | 9.0 | 1.0 | 4.0 | 3.0 | 3.0 | 7.0 | 7.0 | N/A | 8.0 | 4.0 | 8.0 | 9.0 | 5.0 |
| 5.3 | Chimera Investment Corporation (CIM) | 7.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 1.0 | 7.0 | 6.0 | 4.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.0 |
| 5.5 | City Office REIT Inc (CIO) | 0.0 | 10.0 | N/A | N/A | N/A | 4.0 | 0.0 | 7.0 | 7.0 | 7.0 | 8.0 | 5.0 | 5.0 | 6.0 | 6.0 | N/A | 9.0 | N/A | 7.0 | 8.0 | 2.0 |
| 6.6 | Chatham Lodging Trust (CLDT) | N/A | 10.0 | 7.0 | 5.0 | 8.0 | 5.0 | 0.0 | 5.0 | 8.0 | 8.0 | 8.0 | 6.0 | 5.0 | 7.0 | 8.0 | N/A | 10.0 | 5.0 | 5.0 | 8.0 | 5.0 |
| 5.7 | CIM Commercial Trust Corp (CMCT) | 8.0 | 10.0 | N/A | N/A | N/A | 4.0 | 0.0 | 10.0 | 10.0 | 7.0 | 7.0 | 0.0 | 0.0 | 5.0 | 1.0 | N/A | N/A | N/A | 6.0 | 7.0 | N/A |
| 8.4 | Camden Property Trust (CPT) | 9.0 | 10.0 | 9.0 | 10.0 | 8.0 | 10.0 | 0.0 | 9.0 | 8.0 | 7.0 | 8.0 | 7.0 | 5.0 | 8.0 | 8.0 | N/A | 8.0 | 7.0 | 8.0 | 9.0 | 5.0 |
| 9.2 | CareTrust REIT, Inc. (CTRE) | 8.0 | 10.0 | 10.0 | 9.0 | 10.0 | N/A | 0.0 | N/A | N/A | 9.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | N/A | 6.0 | 10.0 | 8.0 | 6.0 | 10.0 |
| 8.5 | CubeSmart (CUBE) | 9.0 | 10.0 | 10.0 | 10.0 | 8.0 | 10.0 | 0.0 | 10.0 | 9.0 | 6.0 | 9.0 | 7.0 | 5.0 | 8.0 | 7.0 | N/A | N/A | 8.0 | 8.0 | 9.0 | 3.0 |
| 7.5 | Cousins Properties (CUZ) | 4.0 | 10.0 | 8.0 | 4.0 | 9.0 | 8.0 | 0.0 | 9.0 | 5.0 | 9.0 | 9.0 | 7.0 | 6.0 | 7.0 | 8.0 | N/A | 9.0 | 7.0 | 8.0 | 9.0 | 8.0 |
| 6.3 | Corrections Corp of America (CoreCivic) (CXW) | 1.0 | 0.0 | N/A | N/A | 10.0 | 7.0 | 0.0 | 6.0 | 10.0 | 6.0 | 9.0 | 7.0 | 5.0 | 7.0 | 9.0 | N/A | 7.0 | 4.0 | 4.0 | 7.0 | 10.0 |
| 7.0 | Easterly Government Properties, Inc. (DEA) | 1.0 | 10.0 | 10.0 | 10.0 | 10.0 | 5.0 | 0.0 | 9.0 | 8.0 | 6.0 | 9.0 | 5.0 | 5.0 | 9.0 | 7.0 | N/A | 6.0 | 7.0 | 7.0 | 8.0 | 2.0 |
| 5.7 | Douglas Emmett, Inc. (DEI) | 0.0 | 10.0 | 9.0 | 9.0 | 6.0 | 4.0 | 0.0 | 10.0 | 5.0 | 3.0 | 4.0 | 7.0 | 6.0 | 5.0 | 3.0 | N/A | N/A | 5.0 | 8.0 | 8.0 | 4.0 |
| 7.8 | Digital Realty Trust (DLR) | 5.0 | 10.0 | N/A | 10.0 | 9.0 | 8.0 | 0.0 | 10.0 | 5.0 | 6.0 | 7.0 | 10.0 | 9.0 | N/A | N/A | N/A | N/A | 7.0 | 6.0 | 8.0 | 7.0 |
| 7.2 | Healthpeak Properties, Inc. (DOC) | 0.0 | 10.0 | N/A | N/A | 10.0 | N/A | 0.0 | N/A | N/A | 7.0 | 8.0 | 10.0 | 10.0 | 9.0 | 7.0 | N/A | 9.0 | 7.0 | 7.0 | 7.0 | 3.0 |
| 6.9 | DiamondRock Hospitality Co. (DRH) | N/A | 10.0 | N/A | N/A | N/A | 6.0 | 0.0 | 7.0 | 6.0 | 7.0 | 9.0 | 7.0 | 6.0 | 6.0 | 7.0 | N/A | 10.0 | N/A | 5.0 | 8.0 | 5.0 |
| 4.7 | Dynex Capital, Inc. (DX) | 1.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 1.0 | 0.0 | 10.0 | 10.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 10.0 |
| 4.2 | Ellington Residential Mortgage REIT (EARN) | 0.0 | 10.0 | N/A | N/A | N/A | 4.0 | 0.0 | 10.0 | 10.0 | 0.0 | 6.0 | 0.0 | 2.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 4.0 |
| 9.1 | EastGroup Properties, Inc. (EGP) | 9.0 | 10.0 | 9.0 | 8.0 | 10.0 | 10.0 | 0.0 | 10.0 | 8.0 | 8.0 | 10.0 | 10.0 | 10.0 | 9.0 | 7.0 | N/A | 10.0 | 9.0 | 9.0 | 9.0 | 4.0 |
| 7.7 | Equity Lifestyle Properties, Inc. (ELS) | 10.0 | 10.0 | 9.0 | 8.0 | 9.0 | 8.0 | 0.0 | 9.0 | 8.0 | 3.0 | 4.0 | 7.0 | 7.0 | 8.0 | 8.0 | N/A | N/A | 7.0 | 7.0 | 9.0 | 5.0 |
| 7.1 | Entertainment Properties Trust, Inc. (EPR) | 0.0 | 10.0 | 9.0 | 9.0 | 8.0 | N/A | 0.0 | N/A | N/A | 6.0 | 7.0 | 7.0 | 5.0 | 10.0 | 10.0 | N/A | 7.0 | 7.0 | 7.0 | 9.0 | 9.0 |
| 8.4 | Equity Residential (EQR) | 7.0 | 10.0 | 9.0 | 8.0 | 9.0 | 10.0 | 0.0 | 9.0 | 9.0 | 8.0 | 9.0 | 7.0 | 5.0 | 9.0 | 9.0 | N/A | 8.0 | 7.0 | 8.0 | 9.0 | 6.0 |
| 6.5 | Empire State Realty Trust, Inc. (ESRT) | 3.0 | 10.0 | 6.0 | 2.0 | 9.0 | 7.0 | 0.0 | 10.0 | 10.0 | 3.0 | 7.0 | 7.0 | 6.0 | 7.0 | 6.0 | N/A | 9.0 | 6.0 | 7.0 | 9.0 | 2.0 |
| 8.1 | Essex Property Trust, Inc. (ESS) | 9.0 | 10.0 | 9.0 | 8.0 | 9.0 | 8.0 | 0.0 | 9.0 | 8.0 | 6.0 | 7.0 | 7.0 | 6.0 | 9.0 | 8.0 | N/A | 8.0 | 8.0 | 8.0 | 9.0 | 7.0 |
| 8.7 | Extra Space Storage, Inc. (EXR) | 10.0 | 10.0 | 10.0 | 10.0 | 8.0 | 9.0 | 0.0 | 10.0 | N/A | 6.0 | 10.0 | 10.0 | 10.0 | 9.0 | 9.0 | N/A | 8.0 | 7.0 | 8.0 | 8.0 | 3.0 |
| 8.1 | Four Corners Property Trust, Inc. (FCPT) | 6.0 | 9.0 | 10.0 | 10.0 | 9.0 | 7.0 | 0.0 | 7.0 | 6.0 | 7.0 | 9.0 | 9.0 | 10.0 | 10.0 | 9.0 | N/A | 3.0 | 8.0 | 9.0 | 9.0 | 9.0 |
| 6.5 | Farmland Partners, Inc (FPI) | 8.0 | 10.0 | N/A | 1.0 | 10.0 | 2.0 | 0.0 | 8.0 | 9.0 | 7.0 | 8.0 | 5.0 | 5.0 | N/A | N/A | N/A | N/A | N/A | 8.0 | 7.0 | 7.0 |
| 8.3 | First Industrial Realty Trust, Inc. (FR) | 9.0 | 10.0 | 9.0 | 9.0 | 10.0 | 8.0 | 0.0 | 9.0 | 4.0 | 7.0 | 8.0 | 9.0 | 9.0 | 8.0 | 7.0 | N/A | N/A | 8.0 | 8.0 | 9.0 | 3.0 |
| 7.7 | Federal Realty Investment Trust (FRT) | 4.0 | 10.0 | 9.0 | 8.0 | 9.0 | 9.0 | 0.0 | 10.0 | 7.0 | 4.0 | 6.0 | 7.0 | 8.0 | 8.0 | 9.0 | N/A | 8.0 | 7.0 | 9.0 | 10.0 | 3.0 |
| 4.1 | Franklin Street Properties Corp. (FSP) | 0.0 | 10.0 | N/A | 1.0 | N/A | 3.0 | 0.0 | 0.0 | 10.0 | 9.0 | 10.0 | 1.0 | 1.0 | 5.0 | 3.0 | N/A | 9.0 | N/A | 6.0 | 7.0 | 2.0 |
| 4.1 | The Geo Group, Inc. (GEO) | 0.0 | 0.0 | N/A | N/A | N/A | 3.0 | 0.0 | 0.0 | 7.0 | 5.0 | 8.0 | 5.0 | 4.0 | 8.0 | 9.0 | N/A | 7.0 | N/A | 4.0 | 8.0 | 10.0 |
| 7.8 | Gaming & Leisure Properties, Inc. (GLPI) | 2.0 | 10.0 | 10.0 | 10.0 | 9.0 | 7.0 | 0.0 | 7.0 | 8.0 | 5.0 | 8.0 | 9.0 | 8.0 | 10.0 | 10.0 | N/A | 6.0 | 8.0 | 10.0 | 8.0 | 7.0 |
| 6.6 | Gladstone Commercial Corporation, Inc. (GOOD) | 0.0 | 10.0 | 10.0 | 10.0 | 8.0 | 4.0 | 0.0 | 5.0 | 8.0 | 4.0 | 6.0 | 5.0 | 5.0 | 9.0 | 10.0 | N/A | 9.0 | 7.0 | 9.0 | 10.0 | 8.0 |
| 8.3 | Getty Realty Corp. (GTY) | 8.0 | 10.0 | 10.0 | 10.0 | 9.0 | 7.0 | 0.0 | 8.0 | 7.0 | 7.0 | 9.0 | 9.0 | 10.0 | 10.0 | 10.0 | N/A | 3.0 | 8.0 | 9.0 | 7.0 | 7.0 |
| 5.5 | Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI) | 9.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 4.0 | 6.0 | 10.0 | 10.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.0 |
| 8.5 | Welltower, Inc. (WELL) | 6.0 | 10.0 | 9.0 | 8.0 | 10.0 | N/A | 0.0 | N/A | N/A | 8.0 | 9.0 | 10.0 | 10.0 | 8.0 | 10.0 | N/A | 9.0 | 7.0 | 5.0 | 8.0 | 10.0 |
| 7.1 | Highwoods Properties, Inc. (HIW) | 4.0 | 10.0 | 9.0 | 9.0 | 8.0 | 7.0 | 0.0 | 8.0 | 6.0 | 6.0 | 7.0 | 5.0 | 6.0 | 7.0 | 6.0 | N/A | 10.0 | 7.0 | 8.0 | 8.0 | 3.0 |
| 6.2 | Manhattan Bridge Capital, Inc. (LOAN) | 9.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 8.0 | 8.0 | 9.0 | 5.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.0 |
| 4.5 | Hudson Pacific Properties (HPP) | 0.0 | 10.0 | N/A | N/A | 6.0 | 2.0 | 0.0 | 7.0 | 6.0 | 5.0 | 8.0 | 3.0 | 4.0 | 5.0 | 3.0 | N/A | 10.0 | 4.0 | 6.0 | 7.0 | 1.0 |
| 6.8 | Healthcare Realty Trust, Inc. (HR) | 0.0 | 10.0 | 10.0 | 1.0 | 10.0 | 5.0 | 0.0 | 7.0 | 5.0 | 7.0 | 9.0 | 10.0 | 10.0 | 8.0 | 8.0 | N/A | 8.0 | 7.0 | 8.0 | 10.0 | 3.0 |
| 8.3 | Host Hotels & Resorts, Inc. (HST) | N/A | 10.0 | 8.0 | 10.0 | 9.0 | 10.0 | 0.0 | 10.0 | 9.0 | 8.0 | 8.0 | 7.0 | 6.0 | 5.0 | 7.0 | N/A | 10.0 | 5.0 | 5.0 | 8.0 | N/A |
| 5.0 | Innsuites Hospitality Trust (IHT) | N/A | 10.0 | N/A | N/A | N/A | N/A | 0.0 | 5.0 | 8.0 | 6.0 | 7.0 | 1.0 | 2.0 | N/A | N/A | N/A | N/A | N/A | 1.0 | 8.0 | 4.0 |
| 6.6 | Summit Hotel Properties, Inc. (INN) | N/A | 10.0 | 8.0 | 8.0 | 9.0 | 4.0 | 0.0 | 7.0 | 7.0 | 4.0 | 6.0 | 7.0 | 5.0 | 6.0 | 8.0 | N/A | 10.0 | 5.0 | 6.0 | 8.0 | 2.0 |
| 6.9 | Iron Mountain, Inc. (IRM) | 8.0 | 10.0 | 9.0 | 6.0 | 10.0 | 5.0 | 0.0 | 9.0 | 7.0 | 0.0 | 3.0 | 9.0 | 9.0 | 9.0 | 10.0 | N/A | N/A | 6.0 | 6.0 | 8.0 | 2.0 |
| 8.2 | Independence Realty Trust, Inc. (IRT) | 7.0 | 10.0 | 9.0 | 8.0 | 8.0 | 6.0 | 0.0 | 9.0 | 5.0 | 8.0 | 10.0 | 10.0 | 10.0 | 8.0 | 9.0 | N/A | 8.0 | 7.0 | 7.0 | 9.0 | 6.0 |
| 6.5 | Invesco Mortgage Capital, Inc. (IVR) | 8.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 1.0 | 3.0 | 10.0 | 10.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 6.0 |
| 8.6 | Kimco Realty Corp, Inc. (KIM) | 9.0 | 10.0 | 9.0 | 10.0 | 10.0 | 9.0 | 0.0 | 10.0 | 7.0 | 7.0 | 8.0 | 9.0 | 5.0 | 9.0 | 9.0 | N/A | 8.0 | 8.0 | 8.0 | 6.0 | 5.0 |
| 7.0 | Kilroy Realty Corp, Inc. (KRC) | 5.0 | 10.0 | 8.0 | 5.0 | 8.0 | 9.0 | 0.0 | 10.0 | 4.0 | 6.0 | 7.0 | 5.0 | 8.0 | 6.0 | 4.0 | N/A | 8.0 | 7.0 | 8.0 | 8.0 | 5.0 |
| 7.5 | Kite Realty Group (KRG) | 8.0 | 10.0 | N/A | 0.0 | 9.0 | 9.0 | 0.0 | 9.0 | 8.0 | 7.0 | 8.0 | 6.0 | 5.0 | 8.0 | 9.0 | N/A | 8.0 | 7.0 | 8.0 | 9.0 | 3.0 |
| 6.9 | Ladder Capital Corp (LADR) | 8.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 3.0 | 7.0 | 10.0 | 4.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 5.0 |
| 6.5 | Gladstone Land Corporation, Inc. (LAND) | 5.0 | 10.0 | N/A | 0.0 | N/A | 2.0 | 0.0 | 8.0 | 5.0 | 5.0 | 8.0 | 10.0 | 10.0 | 9.0 | 8.0 | N/A | 9.0 | 7.0 | 9.0 | 10.0 | 3.0 |
| 7.7 | LTC Properties, Inc. (LTC) | 3.0 | 10.0 | 10.0 | 10.0 | 9.0 | N/A | 0.0 | N/A | N/A | 6.0 | 7.0 | 8.0 | 9.0 | N/A | N/A | N/A | 6.0 | 8.0 | 7.0 | 9.0 | 8.0 |
| 8.2 | LXP Industrial Trust (LXP) | 9.0 | 10.0 | 10.0 | 10.0 | 7.0 | 8.0 | 0.0 | 10.0 | 7.0 | 8.0 | 8.0 | 7.0 | 6.0 | 8.0 | 6.0 | N/A | 8.0 | 7.0 | 9.0 | 6.0 | 3.0 |
| 8.4 | Mid-America Apartment Communities, Inc. (MAA) | 8.0 | 10.0 | 9.0 | 8.0 | 8.0 | 10.0 | 0.0 | 10.0 | 9.0 | 7.0 | 9.0 | 7.0 | 6.0 | 8.0 | 8.0 | N/A | 8.0 | 7.0 | 8.0 | 9.0 | 7.0 |
| 6.7 | Macerich Company (MAC) | 8.0 | 10.0 | 8.0 | 6.0 | 7.0 | 3.0 | 0.0 | 8.0 | 9.0 | 4.0 | 6.0 | 6.0 | 4.0 | 8.0 | 9.0 | N/A | N/A | 8.0 | 5.0 | 6.0 | 9.0 |
| 5.1 | MFA Mortgage Investments, Inc. (MFA) | 8.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 1.0 | 4.0 | 3.0 | 10.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.0 |
| 5.1 | AG Mortgage Investment Trust, Inc. (MITT) | 7.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 4.0 | 10.0 | 1.0 | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 2.0 |
| 5.0 | Medical Properties Trust, Inc. (MPW) | 0.0 | 10.0 | N/A | N/A | 4.0 | N/A | 0.0 | N/A | N/A | 6.0 | 7.0 | 0.0 | 4.0 | N/A | N/A | N/A | 6.0 | 7.0 | 10.0 | 10.0 | 8.0 |
| 7.7 | National Health Investors, Inc. (NHI) | 3.0 | 10.0 | N/A | 10.0 | 9.0 | N/A | 0.0 | N/A | N/A | 7.0 | 8.0 | 9.0 | 5.0 | 8.0 | 10.0 | N/A | 6.0 | 8.0 | 7.0 | 9.0 | 8.0 |
| 6.3 | Annaly Capital Management, Inc. (NLY) | 8.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 0.0 | 3.0 | 10.0 | 10.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 8.0 |
| 8.2 | NNN REIT, Inc. (NNN) | 7.0 | 10.0 | 9.0 | 10.0 | 9.0 | N/A | 0.0 | N/A | N/A | 6.0 | 7.0 | 8.0 | 9.0 | 10.0 | 9.0 | N/A | 7.0 | 9.0 | 8.0 | 9.0 | 4.0 |
| 6.7 | National Storage Affiliates Trust (NSA) | 10.0 | 9.0 | 10.0 | 7.0 | 7.0 | 5.0 | 0.0 | 7.0 | 5.0 | 3.0 | 4.0 | 6.0 | 5.0 | 8.0 | 4.0 | N/A | 8.0 | 6.0 | 8.0 | 9.0 | 6.0 |
| 6.5 | NexPoint Residential Trust, Inc. (NXRT) | 9.0 | 9.0 | 9.0 | 8.0 | 10.0 | 0.0 | 0.0 | 8.0 | 10.0 | 2.0 | 7.0 | 6.0 | 5.0 | 8.0 | 9.0 | N/A | 8.0 | 6.0 | 7.0 | 9.0 | 4.0 |
| 6.4 | New York Mortgage Trust, Inc. (NYMT) | 8.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 2.0 | 4.0 | 9.0 | 8.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 5.0 |
| 8.1 | Realty Income Corp (O) | 1.0 | 10.0 | 10.0 | 9.0 | 9.0 | 8.0 | 0.0 | 10.0 | 3.0 | 8.0 | 8.0 | 10.0 | 10.0 | 9.0 | 9.0 | N/A | 7.0 | 9.0 | 10.0 | 10.0 | 6.0 |
| 7.4 | Omega Healthcare Investors, Inc. (OHI) | 3.0 | 10.0 | 9.0 | 10.0 | 8.0 | N/A | 0.0 | N/A | N/A | 5.0 | 8.0 | 6.0 | 5.0 | 7.0 | 9.0 | N/A | 7.0 | 9.0 | 8.0 | 9.0 | 9.0 |
| 7.0 | One Liberty Properties, Inc. (OLP) | 3.0 | 10.0 | 10.0 | 10.0 | 8.0 | 4.0 | 0.0 | 7.0 | 8.0 | 6.0 | 7.0 | 5.0 | 5.0 | 9.0 | 10.0 | N/A | N/A | 7.0 | 8.0 | 8.0 | 8.0 |
| 6.0 | Orchid Island Capital, Inc. (ORC) | 8.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 0.0 | 3.0 | 10.0 | 2.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 10.0 |
| 5.4 | COPT Defense Properties (CDP) | 6.0 | 5.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 4.0 |
| 2.3 | Net Lease Office Properties (NLOP) | N/A | 0.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 7.0 |
| 5.9 | Outfront Media, Inc. (OUT) | N/A | 10.0 | 9.0 | 3.0 | 10.0 | 4.0 | 0.0 | 9.0 | 7.0 | 0.0 | 0.0 | 7.0 | 4.0 | N/A | N/A | N/A | 8.0 | 6.0 | 5.0 | 8.0 | 4.0 |
| 5.7 | Piedmont Office Realty Trust, Inc. (PDM) | 0.0 | 10.0 | 8.0 | 4.0 | 6.0 | 4.0 | 0.0 | 6.0 | 4.0 | 6.0 | 7.0 | 6.0 | 6.0 | 7.0 | 8.0 | N/A | 9.0 | 7.0 | 7.0 | 9.0 | 3.0 |
| 5.7 | Pebblebrook Hotel Trust, Inc. (PEB) | 3.0 | 10.0 | 6.0 | 2.0 | 9.0 | 4.0 | 0.0 | 8.0 | 8.0 | 6.0 | 7.0 | 5.0 | 4.0 | 5.0 | 9.0 | N/A | 10.0 | 4.0 | 4.0 | 8.0 | 2.0 |
| 5.6 | Paramount Group, Inc. (PGRE) | 0.0 | 9.0 | N/A | N/A | 7.0 | N/A | 0.0 | 10.0 | 9.0 | 6.0 | 7.0 | 5.0 | 5.0 | 6.0 | 4.0 | N/A | 8.0 | 6.0 | 1.0 | 4.0 | 6.0 |
| 6.0 | Park Hotels & Resorts, Inc. (PK) | N/A | 8.0 | 8.0 | 0.0 | 8.0 | 4.0 | 0.0 | 7.0 | 8.0 | 6.0 | 7.0 | 6.0 | 5.0 | 6.0 | 8.0 | N/A | N/A | 5.0 | 5.0 | 8.0 | 2.0 |
| 8.8 | Prologis, Inc. (PLD) | 8.0 | 10.0 | 10.0 | 10.0 | 8.0 | 10.0 | 0.0 | 10.0 | N/A | 8.0 | 8.0 | 10.0 | 10.0 | 9.0 | 7.0 | N/A | 9.0 | 8.0 | 8.0 | 9.0 | 3.0 |
| 4.6 | Pennymac Mortgage Investment Trust (PMT) | 0.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 1.0 | 7.0 | 10.0 | 4.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 7.0 |
| 8.9 | Public Storage (PSA) | 8.0 | 10.0 | 10.0 | 10.0 | 8.0 | 10.0 | 0.0 | 10.0 | 7.0 | 8.0 | 9.0 | 10.0 | 7.0 | 9.0 | 8.0 | N/A | 10.0 | 8.0 | 9.0 | 6.0 | 5.0 |
| 5.9 | Power REIT (PW) | N/A | 0.0 | N/A | N/A | N/A | 4.0 | 0.0 | 7.0 | N/A | 5.0 | 5.0 | 10.0 | 10.0 | N/A | N/A | N/A | N/A | N/A | 10.0 | 10.0 | 1.0 |
| 8.6 | Regency Centers Corporation (REG) | 8.0 | 10.0 | 9.0 | 8.0 | 9.0 | 9.0 | 0.0 | 10.0 | 8.0 | 8.0 | 9.0 | 9.0 | 10.0 | 9.0 | 9.0 | N/A | 8.0 | 7.0 | 8.0 | 9.0 | 7.0 |
| 9.1 | Rexford Industrial Realty, Inc. (REXR) | 8.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 0.0 | 10.0 | 7.0 | 9.0 | 10.0 | 10.0 | 10.0 | 9.0 | 7.0 | N/A | 9.0 | 8.0 | 8.0 | 9.0 | 2.0 |
| 6.5 | Ryman Hospitality Properties, Inc. (RHP) | N/A | 10.0 | 9.0 | 9.0 | 10.0 | 5.0 | 0.0 | 6.0 | 5.0 | 0.0 | 6.0 | 9.0 | 10.0 | 5.0 | 2.0 | N/A | 10.0 | 6.0 | 6.0 | 9.0 | 3.0 |
| 7.4 | RLJ Lodging Trust (RLJ) | 8.0 | 10.0 | 8.0 | 8.0 | 8.0 | 6.0 | 0.0 | 9.0 | 9.0 | 6.0 | 7.0 | 8.0 | 5.0 | 6.0 | 8.0 | N/A | 10.0 | 5.0 | 5.0 | 8.0 | 3.0 |
| 8.0 | Retail Opportunity Investments Corp. (ROIC) | 9.0 | 10.0 | 9.0 | 8.0 | 8.0 | N/A | 0.0 | N/A | N/A | 6.0 | 7.0 | 7.0 | 6.0 | 9.0 | 8.0 | N/A | 8.0 | 7.0 | 8.0 | 9.0 | 9.0 |
| 9.1 | Essential Properties Realty Trust Inc (EPRT) | 8.0 | 6.0 | 9.0 | 10.0 | 9.0 | 10.0 | 0.0 | 9.0 | 3.0 | 9.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | N/A | N/A | 9.0 | 10.0 | 10.0 | 9.0 |
| 3.6 | Redwood Trust, Inc. (RWT) | 0.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 0.0 | 3.0 | 8.0 | 8.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.0 |
| 8.4 | Rayonier, Inc. (RYN) | 8.0 | 10.0 | N/A | N/A | N/A | 10.0 | 0.0 | 10.0 | 7.0 | 7.0 | 8.0 | 10.0 | 6.0 | N/A | N/A | N/A | N/A | N/A | 6.0 | 8.0 | 4.0 |
| 7.6 | Sabra Health Care REIT, Inc. (SBRA) | 3.0 | 10.0 | 10.0 | 10.0 | 10.0 | 5.0 | 0.0 | 7.0 | 8.0 | 7.0 | 8.0 | 7.0 | 4.0 | 7.0 | 8.0 | N/A | 7.0 | 7.0 | 8.0 | 10.0 | 9.0 |
| 7.3 | Global Self Storage, Inc. (SELF) | 7.0 | 9.0 | 10.0 | 10.0 | 6.0 | 3.0 | 0.0 | 6.0 | 7.0 | 9.0 | 9.0 | 7.0 | 9.0 | 9.0 | 10.0 | N/A | N/A | 7.0 | 6.0 | 9.0 | 3.0 |
| 7.0 | Sunstone Hotel Investors, Inc. (SHO) | N/A | 10.0 | 8.0 | 10.0 | 6.0 | 8.0 | 0.0 | 5.0 | 6.0 | 9.0 | 10.0 | 5.0 | 6.0 | 5.0 | 2.0 | N/A | 10.0 | 5.0 | 5.0 | 9.0 | 4.0 |
| 8.0 | Tanger Factory Outlet Centers, Inc. (SKT) | N/A | 10.0 | 8.0 | 8.0 | 10.0 | 9.0 | 0.0 | 10.0 | 8.0 | 2.0 | 7.0 | 8.0 | 7.0 | 9.0 | 9.0 | N/A | 7.0 | 7.0 | 7.0 | 9.0 | 10.0 |
| 6.2 | SL Green Realty Corp (SLG) | 0.0 | 10.0 | 8.0 | 3.0 | 10.0 | 4.0 | 0.0 | 10.0 | 8.0 | 6.0 | 9.0 | 6.0 | 2.0 | 7.0 | 9.0 | N/A | N/A | 8.0 | 5.0 | 6.0 | 5.0 |
| 4.2 | Sotherly Hotels, Inc. (SOHO) | 9.0 | 0.0 | N/A | N/A | N/A | 0.0 | 0.0 | 6.0 | 10.0 | 1.0 | 7.0 | 1.0 | 5.0 | 5.0 | 9.0 | N/A | 10.0 | N/A | N/A | 6.0 | N/A |
| 7.8 | Simon Property Group (SPG) | 9.0 | 10.0 | 9.0 | 9.0 | 9.0 | 9.0 | 0.0 | 10.0 | 7.0 | 0.0 | 3.0 | 9.0 | 6.0 | 8.0 | 9.0 | N/A | 7.0 | 9.0 | 8.0 | 9.0 | 5.0 |
| 4.1 | Seritage Growth Properties, Inc. (SRG) | N/A | 0.0 | N/A | N/A | N/A | N/A | 0.0 | 0.0 | 10.0 | 7.0 | 10.0 | 0.0 | 0.0 | 6.0 | 9.0 | N/A | N/A | N/A | N/A | N/A | 1.0 |
| 8.2 | STAG Industrial, Inc. (STAG) | 4.0 | 10.0 | 9.0 | 8.0 | 10.0 | 9.0 | 0.0 | 9.0 | 7.0 | 8.0 | 8.0 | 8.0 | 6.0 | 9.0 | 9.0 | N/A | 9.0 | 8.0 | 9.0 | 9.0 | 3.0 |
| 6.6 | Starwood Property Trust, Inc. (STWD) | 10.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 0.0 | 6.0 | 10.0 | 3.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 6.0 |
| 7.5 | Sun Communities, Inc. (SUI) | 7.0 | 10.0 | 9.0 | 8.0 | 8.0 | 6.0 | 0.0 | 9.0 | 6.0 | 6.0 | 7.0 | 8.0 | 7.0 | 9.0 | 10.0 | N/A | 8.0 | 6.0 | 6.0 | 8.0 | 6.0 |
| 9.4 | Terreno Realty Corp. (TRNO) | 8.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 0.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 9.0 | 7.0 | N/A | 9.0 | 9.0 | 8.0 | 9.0 | 4.0 |
| 6.1 | Two Harbors Investment Corp. (TWO) | 8.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 1.0 | 4.0 | 10.0 | 5.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 4.0 |
| 7.5 | UDR Inc. (UDR) | 8.0 | 10.0 | 9.0 | 0.0 | 8.0 | 9.0 | 0.0 | 10.0 | 7.0 | 5.0 | 6.0 | 8.0 | 7.0 | 9.0 | 9.0 | N/A | N/A | 7.0 | 8.0 | 9.0 | 6.0 |
| 7.3 | Urban Edge Properties (UE) | 8.0 | 10.0 | 8.0 | 6.0 | 10.0 | 5.0 | 0.0 | 9.0 | 7.0 | 4.0 | 8.0 | 8.0 | 7.0 | 8.0 | 9.0 | N/A | 7.0 | 7.0 | 7.0 | 9.0 | 5.0 |
| 7.1 | Universal Health Realty Income Trust (UHT) | 5.0 | 10.0 | 10.0 | 10.0 | 10.0 | 6.0 | 0.0 | 5.0 | 2.0 | 5.0 | 6.0 | 7.0 | 5.0 | N/A | N/A | N/A | 8.0 | 7.0 | 8.0 | 8.0 | 6.0 |
| 8.1 | UMH Properties, Inc. (UMH) | 7.0 | 10.0 | 10.0 | 10.0 | 10.0 | 6.0 | 0.0 | 8.0 | 8.0 | 6.0 | 9.0 | 9.0 | 7.0 | 7.0 | 7.0 | N/A | 8.0 | 7.0 | 6.0 | 8.0 | 8.0 |
| 4.7 | Uniti Group, Inc. (UNIT) | 3.0 | 9.0 | N/A | N/A | 8.0 | 2.0 | 0.0 | 1.0 | 7.0 | 0.0 | 3.0 | 6.0 | 7.0 | N/A | N/A | N/A | 4.0 | 6.0 | 9.0 | 8.0 | 10.0 |
| 5.9 | Vornado Realty Trust (VNO) | 0.0 | 10.0 | N/A | N/A | 6.0 | 4.0 | 0.0 | 9.0 | 8.0 | 5.0 | 6.0 | 5.0 | 5.0 | N/A | N/A | N/A | 10.0 | 6.0 | 6.0 | 8.0 | 8.0 |
| 7.4 | Ventas, Inc. (VTR) | 4.0 | 10.0 | 9.0 | 6.0 | 10.0 | N/A | 0.0 | N/A | N/A | 5.0 | 6.0 | 10.0 | 7.0 | 8.0 | 10.0 | N/A | 7.0 | 6.0 | 5.0 | 7.0 | 10.0 |
| 4.1 | Wheeler Real Estate Investment Trust Inc (WHLR) | 0.0 | 0.0 | N/A | N/A | N/A | 2.0 | 0.0 | 5.0 | 10.0 | 2.0 | 4.0 | 5.0 | 4.0 | 8.0 | 8.0 | N/A | N/A | 4.0 | 7.0 | 8.0 | N/A |
| 7.6 | W.P. Carey, Inc. (WPC) | 0.0 | 10.0 | 10.0 | 9.0 | 7.0 | 8.0 | 0.0 | 9.0 | 6.0 | 6.0 | 7.0 | 9.0 | 8.0 | 9.0 | 10.0 | N/A | 7.0 | 8.0 | 9.0 | 8.0 | 9.0 |
| 7.2 | Whitestone REIT, Inc. (WSR) | 9.0 | 10.0 | 8.0 | 5.0 | 9.0 | 3.0 | 0.0 | 6.0 | 5.0 | 5.0 | 8.0 | 10.0 | 7.0 | 8.0 | 9.0 | N/A | 8.0 | 7.0 | 7.0 | 9.0 | 8.0 |
| 6.4 | Xenia Hotels & Resorts, Inc. (XHR) | N/A | 10.0 | 8.0 | 7.0 | 9.0 | 4.0 | 0.0 | 5.0 | 9.0 | 6.0 | 7.0 | 5.0 | 5.0 | 5.0 | 8.0 | N/A | 10.0 | 5.0 | 4.0 | 8.0 | 3.0 |
| 5.0 | Service Properties Trust, Inc. (SVC) | 8.0 | 6.0 | 8.0 | 7.0 | N/A | 2.0 | 0.0 | 4.0 | 8.0 | 1.0 | 4.0 | 5.0 | 5.0 | 4.0 | 7.0 | N/A | N/A | 4.0 | 5.0 | 8.0 | N/A |
| 5.8 | Clipper Realty, Inc. (CLPR) | 3.0 | 7.0 | 9.0 | 6.0 | 10.0 | 1.0 | 0.0 | 9.0 | 10.0 | 0.0 | 3.0 | 9.0 | 7.0 | N/A | N/A | N/A | N/A | N/A | 7.0 | 9.0 | 1.0 |
| 7.9 | Community Healthcare Trust (CHCT) | 6.0 | 9.0 | 10.0 | 10.0 | 7.0 | 7.0 | 0.0 | 7.0 | 4.0 | 8.0 | 8.0 | 9.0 | 9.0 | 9.0 | 9.0 | N/A | 8.0 | 7.0 | 8.0 | 8.0 | 5.0 |
| 6.9 | CTO Realty Growth, Inc. (CTO) | 0.0 | 10.0 | 10.0 | N/A | 9.0 | 4.0 | 0.0 | 8.0 | 1.0 | 6.0 | 6.0 | 10.0 | 10.0 | 8.0 | 9.0 | N/A | N/A | 8.0 | 8.0 | 10.0 | 10.0 |
| 7.1 | Crown Castle International Corp. (CCI) | 7.0 | 10.0 | 10.0 | 10.0 | 7.0 | 8.0 | 0.0 | 10.0 | 7.0 | 1.0 | 4.0 | 5.0 | 5.0 | N/A | N/A | N/A | N/A | 7.0 | 8.0 | 9.0 | 5.0 |
| 8.5 | Equinix, Inc. (EQIX) | 8.0 | 10.0 | 8.0 | 9.0 | 10.0 | 10.0 | 0.0 | 10.0 | 9.0 | 5.0 | 8.0 | 10.0 | 9.0 | N/A | N/A | N/A | 8.0 | 7.0 | 6.0 | 8.0 | 6.0 |
| 4.6 | First REIT of New Jersey (FREVS) | 8.0 | 7.0 | N/A | N/A | N/A | 2.0 | 0.0 | 5.0 | 10.0 | 0.0 | 6.0 | 5.0 | 5.0 | N/A | N/A | N/A | N/A | N/A | 7.0 | 7.0 | N/A |
| 8.0 | Global Medical REIT, Inc. (GMRE) | 4.0 | 8.0 | 10.0 | 8.0 | 8.0 | 6.0 | 0.0 | 9.0 | 9.0 | 6.0 | 7.0 | 10.0 | 10.0 | 10.0 | 8.0 | N/A | N/A | 9.0 | 8.0 | 8.0 | 10.0 |
| 6.1 | Global Net Lease, Inc. (GNL) | 0.0 | 10.0 | 9.0 | 10.0 | 7.0 | 2.0 | 0.0 | 7.0 | N/A | 4.0 | 5.0 | 10.0 | 10.0 | 8.0 | 6.0 | N/A | 8.0 | 7.0 | 8.0 | 6.0 | 6.0 |
| 7.9 | Invitation Homes Inc. (INVH) | 8.0 | 7.0 | 9.0 | 9.0 | 10.0 | 6.0 | 0.0 | 8.0 | 7.0 | 7.0 | 8.0 | 9.0 | 7.0 | 9.0 | 9.0 | N/A | N/A | 7.0 | 8.0 | 8.0 | 5.0 |
| 4.1 | Kennedy Wilson, Inc. (KW) | 0.0 | 10.0 | N/A | N/A | N/A | 0.0 | 0.0 | 7.0 | 7.0 | 3.0 | 7.0 | 7.0 | 5.0 | N/A | N/A | N/A | N/A | N/A | 6.0 | 9.0 | 2.0 |
| 7.0 | Lamar Advertising Company, Inc. (LAMR) | 9.0 | 10.0 | N/A | N/A | N/A | 9.0 | 0.0 | 9.0 | 6.0 | 1.0 | 4.0 | 7.0 | 7.0 | N/A | N/A | N/A | N/A | N/A | 7.0 | 9.0 | 5.0 |
| 5.9 | Potlatch Corporation (PCH) | 0.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | 10.0 | 9.0 | 9.0 | 9.0 | 2.0 | 6.0 | N/A | N/A | N/A | N/A | N/A | 4.0 | 6.0 | 5.0 |
| 6.0 | Weyerhaeuser Co. (WY) | 0.0 | 10.0 | N/A | N/A | N/A | 9.0 | 0.0 | 7.0 | 8.0 | 9.0 | 9.0 | 2.0 | 5.0 | N/A | N/A | N/A | N/A | N/A | 4.0 | 6.0 | 3.0 |
| 7.8 | Plymouth Industrial REIT Inc. (PLYM) | 8.0 | 7.0 | 9.0 | 8.0 | 10.0 | 4.0 | 0.0 | 9.0 | 7.0 | 5.0 | 10.0 | 10.0 | 10.0 | 8.0 | 6.0 | N/A | N/A | 8.0 | 8.0 | 9.0 | 2.0 |
| 8.7 | VICI Properties Inc. (VICI) | 10.0 | 7.0 | 10.0 | 10.0 | 10.0 | 7.0 | 0.0 | 7.0 | 7.0 | 8.0 | 8.0 | 10.0 | 10.0 | 10.0 | 10.0 | N/A | 4.0 | 8.0 | 10.0 | 7.0 | 7.0 |
| 7.7 | Alexander & Baldwin, Inc. (ALEX) | 10.0 | 6.0 | 9.0 | 0.0 | 8.0 | 8.0 | 0.0 | 8.0 | 7.0 | 9.0 | 9.0 | 10.0 | 4.0 | 8.0 | 8.0 | N/A | N/A | 6.0 | 7.0 | 9.0 | 6.0 |
| 7.1 | BRT Apartments Corp. (BRT) | 7.0 | 7.0 | 9.0 | 9.0 | 8.0 | N/A | 0.0 | N/A | N/A | 4.0 | 6.0 | 9.0 | 7.0 | 8.0 | 8.0 | N/A | N/A | 6.0 | 4.0 | 9.0 | 2.0 |
| 6.0 | JBG SMITH Properties (JBGS) | N/A | 7.0 | N/A | N/A | N/A | 5.0 | 0.0 | 10.0 | 7.0 | 6.0 | 6.0 | 5.0 | 5.0 | 7.0 | 4.0 | N/A | N/A | 4.0 | 6.0 | 9.0 | 5.0 |
| 7.0 | SBA Communications Corporation (SBAC) | 8.0 | 5.0 | 7.0 | 7.0 | 9.0 | 8.0 | 0.0 | 10.0 | 8.0 | 0.0 | 6.0 | 6.0 | 6.0 | N/A | N/A | N/A | N/A | 8.0 | 8.0 | 9.0 | 8.0 |
| 7.2 | SITE Centers Corp (SITC) | N/A | 5.0 | N/A | N/A | 10.0 | 8.0 | 0.0 | 7.0 | 9.0 | 7.0 | 9.0 | 5.0 | 5.0 | 8.0 | 6.0 | N/A | 7.0 | 4.0 | 8.0 | 8.0 | N/A |
| 6.0 | Safehold Inc. (SAFE) | 5.0 | 7.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 5.0 | 5.0 | 10.0 | 10.0 | N/A | N/A | N/A | N/A | N/A | 5.0 | 3.0 | 2.0 |
| 6.7 | Colliers International Group Inc. (CIGI) | N/A | 4.0 | N/A | N/A | N/A | 10.0 | 0.0 | 10.0 | 9.0 | 4.0 | 6.0 | 4.0 | 10.0 | N/A | N/A | N/A | N/A | N/A | 3.0 | 8.0 | 3.0 |
| 5.2 | Rithm Capital Corp. (RITM) | 5.0 | 6.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 1.0 | 4.0 | 10.0 | 9.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 5.0 |
| 3.4 | Presidio Property Trust (SQFT) | N/A | 0.0 | N/A | 1.0 | N/A | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | 7.0 | 7.0 | N/A | N/A | 4.0 | N/A | N/A | 4.0 |
| 5.0 | InvenTrust Properties Corp. (IVT) | N/A | 3.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 9.0 |
| 6.3 | Broadstone Net Lease, Inc. (BNL) | 7.0 | 4.0 | 10.0 | 10.0 | 9.0 | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | 10.0 | 9.0 | N/A | N/A | 8.0 | N/A | N/A | 4.0 |
| 6.8 | Americold Realty Trust (COLD) | 4.0 | 7.0 | 9.0 | 6.0 | 10.0 | 7.0 | 0.0 | 10.0 | 8.0 | 6.0 | 7.0 | 10.0 | 10.0 | 4.0 | 0.0 | N/A | 8.0 | 5.0 | 4.0 | 7.0 | 2.0 |
| 2.7 | Cherry Hill Mortgage Investment Corp. (CHMI) | 0.0 | 10.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 1.0 | 4.0 | 2.0 | 7.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.0 |
| 2.3 | Modiv Inc. (MDV) | N/A | 2.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.0 |
| 2.9 | Generation Income Properties Inc. (GIPR) | N/A | 0.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 8.0 | N/A | N/A | N/A | N/A | 1.0 |
| 3.4 | Selectis Health Inc (GBCS) | 0.0 | 0.0 | N/A | N/A | N/A | 1.0 | 0.0 | 4.0 | 8.0 | 0.0 | 3.0 | 10.0 | 7.0 | N/A | N/A | N/A | N/A | N/A | 5.0 | 4.0 | 2.0 |
| 4.2 | Granite Point Mortgage Trust Inc. (GPMT) | 0.0 | 7.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 3.0 | 7.0 | 9.0 | 2.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 4.8 | Industrial Logistics Properties Trust (ILPT) | 0.0 | 7.0 | 6.0 | 2.0 | 10.0 | N/A | 0.0 | 2.0 | 9.0 | 0.0 | 3.0 | 6.0 | 5.0 | 8.0 | 6.0 | N/A | N/A | 4.0 | 9.0 | 9.0 | N/A |
| 3.8 | KKR Real Estate Finance Trust Inc. (KREF) | 0.0 | 7.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 1.0 | 4.0 | 10.0 | 5.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 4.0 |
| 6.4 | Sachem Capital Corp. (SACH) | N/A | 7.0 | N/A | N/A | N/A | 5.0 | 0.0 | 0.0 | N/A | 9.0 | 9.0 | 10.0 | 10.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 6.8 | Transcontinental Realty Investors, Inc. (TCI) | N/A | 0.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 10.0 | 10.0 | 10.0 | 5.0 | N/A | N/A | N/A | N/A | N/A | 3.0 | 8.0 | 2.0 |
| 4.9 | TPG Real Estate Finance Trust, Inc. (TRTX) | 2.0 | 7.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 3.0 | 7.0 | 10.0 | 2.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 4.0 |
| 4.1 | Regional Health Properties,Inc. (RHE) | 0.0 | 0.0 | N/A | N/A | N/A | 3.0 | 0.0 | 9.0 | 10.0 | 0.0 | 6.0 | 3.0 | 5.0 | 5.0 | 5.0 | N/A | N/A | N/A | 6.0 | 9.0 | 4.0 |
| 4.0 | Ready Capital Corp. (RC) | 0.0 | 6.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 1.0 | 7.0 | 10.0 | 8.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.0 |
| 4.8 | Office Properties Income Trust (OPI) | 0.0 | 10.0 | 5.0 | 1.0 | N/A | 3.0 | 0.0 | 7.0 | 7.0 | 4.0 | 6.0 | 6.0 | 6.0 | 7.0 | 7.0 | N/A | N/A | 5.0 | 8.0 | 8.0 | N/A |
| 7.0 | Innovative Industrial Properties, Inc. (IIPR) | 10.0 | 7.0 | 10.0 | 10.0 | 8.0 | 10.0 | 0.0 | 8.0 | 10.0 | 10.0 | 10.0 | 8.0 | 5.0 | 9.0 | 6.0 | N/A | 10.0 | 9.0 | 9.0 | 6.0 | N/A |
| 6.7 | BSR REIT (HOM.U) | N/A | 0.0 | N/A | N/A | 9.0 | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | 8.0 | 8.0 | N/A | N/A | N/A | N/A | N/A | N/A |
| 6.1 | Postal Realty Trust, Inc. (PSTL) | 6.0 | 5.0 | 10.0 | 10.0 | N/A | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | 10.0 | 9.0 | N/A | N/A | 7.0 | N/A | N/A | 7.0 |
| 7.9 | Alpine Income Property Trust, Inc. (PINE) | 6.0 | 5.0 | 9.0 | 8.0 | 10.0 | N/A | 0.0 | 9.0 | N/A | 6.0 | 6.0 | 10.0 | 10.0 | 9.0 | 9.0 | N/A | N/A | 7.0 | N/A | N/A | 3.0 |
| 5.2 | Diversified Healthcare Trust (DHC) | 3.0 | 5.0 | 9.0 | 10.0 | N/A | 0.0 | 0.0 | 1.0 | 8.0 | 6.0 | 7.0 | 9.0 | 4.0 | 8.0 | 4.0 | N/A | N/A | 4.0 | 3.0 | 7.0 | 3.0 |
| 6.9 | NetSTREIT Corp. (NTST) | 0.0 | 4.0 | 9.0 | 8.0 | 9.0 | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | 10.0 | 9.0 | N/A | N/A | 8.0 | N/A | N/A | 9.0 |
| 7.1 | Centerspace (CSR) | 5.0 | 5.0 | 9.0 | 8.0 | 9.0 | 6.0 | 0.0 | 9.0 | 9.0 | 5.0 | 6.0 | 5.0 | 5.0 | 8.0 | 9.0 | N/A | N/A | 7.0 | 7.0 | 9.0 | 8.0 |
| 4.4 | BrightSpire Capital, Inc. (BRSP) | 4.0 | 5.0 | N/A | N/A | N/A | 0.0 | 0.0 | 10.0 | 8.0 | 4.0 | 8.0 | 6.0 | 2.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 4.0 |
| 3.9 | DigitalBridge Group, Inc. (DBRG) | N/A | 5.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 5.0 | 10.0 | 0.0 | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | 6.0 | 2.0 |
| 5.3 | Healthcare Trust, Inc. (HTIA) | 3.0 | 5.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | 7.0 | 9.0 | N/A | N/A | N/A | N/A | N/A | N/A |
| 3.0 | Orion Office REIT Inc. (ONL) | N/A | 3.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 6.9 | Phillips Edison & Company, Inc. (PECO) | N/A | 3.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | 9.0 | 9.0 | N/A | N/A | N/A | N/A | N/A | 7.0 |
| 4.0 | Franklin BSP Realty Trust, Inc. (FBRT) | N/A | 3.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 6.0 |
| 4.1 | ACRES Commercial Realty Corp. (ACR) | N/A | 0.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | 1.0 | 7.0 | 10.0 | 4.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.0 |
| 5.8 | Veris Residential, Inc. (VRE) | N/A | 5.0 | 8.0 | N/A | 10.0 | N/A | 0.0 | 0.0 | 2.0 | 5.0 | 8.0 | 3.0 | 2.0 | 8.0 | 8.0 | N/A | N/A | 5.0 | N/A | N/A | 8.0 |
| 6.5 | NexPoint Real Estate Finance, Inc. (NREF) | 5.0 | 5.0 | 5.0 | 8.0 | 7.0 | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 10.0 | N/A | N/A | 7.0 |
| 3.0 | AFC Gamma, Inc. (AFCG) | N/A | 3.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 5.0 | Elme Communities (ELME) | 0.0 | 5.0 | 10.0 | 9.0 | 10.0 | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | 8.0 | 8.0 | 7.0 | N/A | 7.0 | N/A | N/A | 6.0 |
| 0.0 | Sila Realty Trust, Inc. (SILA) | N/A | 0.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 2.4 | Ellington Financial Inc. (EFC) | 0.0 | 5.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 7.0 |
| 3.0 | Maxus Realty Trust, Inc. (MRTI) | N/A | 3.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 3.7 | NexPoint Diversified Real Estate Trust (NXDT) | N/A | 5.0 | N/A | N/A | N/A | N/A | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.0 |
Last updated: 2025-04-22 - v1.8