The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AbbVie Inc COM 00287Y109 225 3,900 SH   SOLE 1 0 0 3,900
Accenture Plc COM G1151C101 163 2,000 SH   SOLE 1 0 0 2,000
Access Midstream Partners LP COM 00434L109 18,060 283,789 SH   SOLE 1 280,889 0 2,900
Aetna Inc COM 00817Y108 15,390 190,000 SH   SOLE 1 84,500 0 105,500
AGIC Convertible & Income FD II COM 018825109 2,470 270,490 SH   SOLE 1 262,497 0 7,993
AGIC Convertible & Income Fund COM 018828103 8,910 932,954 SH   SOLE 1 909,681 0 23,273
Alcoa Inc. COM 013817101 431 26,800 SH   SOLE 1 26,800 0 0
Alexander's Inc. COM 014752109 4,042 10,809 SH   SOLE 1 10,809 0 0
Alliance Holdings GP LP COM 01861G100 2 35 SH   SOLE   35 0 0
AllianceBernstein Global High Income Fund COM 01879R106 2,311 169,933 SH   SOLE 1 152,462 0 17,471
AllianceBernstein Income Fund COM 01881E101 1,083 144,354 SH   SOLE 1 128,300 0 16,054
Alliant Energy Corp. COM 018802108 27,985 505,061 SH   SOLE 1,2 505,061 0 0
Alpine Global Premier Properties Fund COM 02083A103 5,456 794,138 SH   SOLE 1 794,138 0 0
American Assets Trust Inc COM 024013104 194,023 5,884,847 SH   SOLE 1,2 4,784,512 0 1,100,335
American Express Co. COM 025816109 13,945 159,300 SH   SOLE 1 87,200 0 72,100
American Homes 4 Rent-CL COM 02665T306 294,812 17,454,842 SH   SOLE 1,2 10,850,299 0 6,604,543
American International Group COM 026874784 19,808 366,676 SH   SOLE 1 196,976 0 169,700
American Realty Capital Properties COM 02917T104 489,586 40,595,878 SH   SOLE 1,2 21,641,330 0 18,954,548
American Tower Corp COM 03027X100 236,022 2,520,794 SH   SOLE 1,2 2,437,894 0 82,900
Amerigas Partners LP COM 030975106 7,780 170,532 SH   SOLE   170,532 0 0
Ameriprise Finl Inc COM 03076C106 26,181 212,200 SH   SOLE 1 119,100 0 93,100
Amgen Inc. COM 031162100 7,908 56,300 SH   SOLE 1 10,700 0 45,600
AmREIT Inc. COM 03216B208 3,450 150,178 SH   SOLE 1 150,178 0 0
Anadarko Petroleum Corp. COM 032511107 12,018 118,470 SH   SOLE 1 67,570 0 50,900
Anheuser Busch InBev NV ADR 03524A108 4,733 42,700 SH   SOLE 1 42,700 0 0
Apache Corp. COM 037411105 713 7,600 SH   SOLE 1 7,600 0 0
Apartment Investment & Management Co. COM 03748R101 537,413 16,889,146 SH   SOLE 1,2 9,948,505 0 6,940,641
Apple Inc. COM 037833100 22,145 219,800 SH   SOLE 1 73,000 0 146,800
Archer-Daniels-Midland Co. COM 039483102 1,681 32,900 SH   SOLE 1 32,900 0 0
Ashford Hospitality Pr.E PFD 044103505 12,947 477,041 SH   SOLE 1 425,000 0 52,041
Ashford Hospitality Prime Inc COM 044102101 19,685 1,292,545 SH   SOLE 1 1,066,077 0 226,468
AT&T Inc. COM 00206R102 16,175 459,000 SH   SOLE 1 381,000 0 78,000
Atlas Energy Inc COM 04930A104 3 72 SH   SOLE 1 72 0 0
Atlas Pipeline Partners LP COM 049392103 11 310 SH   SOLE 1 310 0 0
Atmos Energy Corp. COM 049560105 18,119 379,851 SH   SOLE 1,2 373,851 0 6,000
Avago Technologies L COM Y0486S104 42,229 485,387 SH   SOLE 1 274,687 0 210,700
Avalonbay Communities Inc COM 053484101 29,853 211,769 SH   SOLE 1 211,769 0 0
AVIV Reit Inc COM 05381L101 122,585 4,652,177 SH   SOLE 1,2 3,927,512 0 724,665
Baker Hughes Inc. COM 057224107 13,960 214,571 SH   SOLE 1 122,171 0 92,400
Bank Of America Corp. COM 060505104 24,387 1,430,300 SH   SOLE 1 871,400 0 558,900
Barclays Bank 7.10% (BCS A) PFD 06739H776 9,528 370,161 SH   SOLE 1 370,161 0 0
Barclays Bank 7.75% (BCS C) PFD 06739H511 27,518 1,064,098 SH   SOLE 1 1,051,430 0 12,668
Barclays Bank 8.125% (BCS D) PFD 06739H362 28,933 1,114,082 SH   SOLE 1 1,103,375 0 10,707
Barclays Bank PLC 6.625% (BCS) PFD 06739F390 258 10,200 SH   SOLE 1 10,200 0 0
Barrick Gold Corp. COM 067901108 615 41,952 SH   SOLE 1 41,952 0 0
Belmond Ltd COM G1154H107 155,050 13,297,563 SH   SOLE 1,2 11,739,750 0 1,557,813
BioMed Realty Trust Inc. COM 09063H107 371,110 18,371,779 SH   SOLE 1,2 10,973,673 0 7,398,106
Blackrock Build Amer Bd COM 09248X100 876 41,697 SH   SOLE   36,987 0 4,710
Blackrock Corporate High Yield Fund 6 COM 09255P107 194 16,358 SH   SOLE 1 0 0 16,358
Blackrock Debt Strategies Fund COM 09255R103 318 83,300 SH   SOLE 1 83,300 0 0
Blackrock Enh Cap And Inc COM 09256A109 7,469 502,957 SH   SOLE 1 502,957 0 0
Blackrock Global Enrg & Res COM 09250U101 2,209 92,346 SH   SOLE 1 92,346 0 0
Blackrock Inc. COM 09247X101 17,046 51,918 SH   SOLE 1 29,999 0 21,919
Blackrock Invt Quality Muni COM 09247D105 142 9,331 SH   SOLE 1 9,331 0 0
Blackrock Limited Duration Income Trust COM 09249W101 1,523 94,171 SH   SOLE 1 84,070 0 10,101
BlackRock Long-Term Municipal Advantage Trust COM 09250B103 2,348 208,539 SH   SOLE 1 208,539 0 0
BlackRock Municipal Bond Trust COM 09249H104 1,647 107,987 SH   SOLE 1 107,987 0 0
Blackrock Munienhanced Fund COM 09253Y100 3,835 342,408 SH   SOLE 1 342,408 0 0
Blackrock Muniholdings In Ii COM 09254C107 2,124 159,906 SH   SOLE 1 159,906 0 0
Blackrock Muniholdings Insur COM 09254P108 4,703 338,379 SH   SOLE 1 338,379 0 0
Blackrock Muniyield Insured COM 09254E103 3,969 289,509 SH   SOLE 1 289,509 0 0
BlackRock MuniYield Investment Fund COM 09254R104 456 31,075 SH   SOLE 1 31,075 0 0
BlackRock MuniYield Investment Quality Fund COM 09254T100 2,123 159,270 SH   SOLE 1 159,270 0 0
Blackrock Muniyield Qual Ii COM 09254G108 1,085 84,824 SH   SOLE 1 84,824 0 0
Blackrock Muniyield Quality COM 09254F100 1,276 85,616 SH   SOLE 1 85,616 0 0
Blackrock Real Asset Equity COM 09254B109 2,627 310,151 SH   SOLE 1 310,151 0 0
Blueknight Energy Partners COM 09625U109 4,120 500,000 SH   SOLE 1 500,000 0 0
Boston Properties Inc. COM 101121101 250,209 2,161,449 SH   SOLE 1 294,511 0 1,866,938
BP PLC-Sponsored ADR ADR 055622104 4,580 104,200 SH   SOLE 1 104,200 0 0
Brandywine Realty Trust COM 105368203 177,011 12,580,704 SH   SOLE 1,2 10,843,876 0 1,736,828
BRF - Brasil Foods SA ADR ADR 10552T107 1,094 46,000 SH   SOLE 1 46,000 0 0
Brixmor Property Group COM 11120U105 65,508 2,942,849 SH   SOLE 1,2 2,165,674 0 777,175
Brookdale Senior Living Inc. COM 112463104 1,223 37,943 SH   SOLE 1 37,943 0 0
Brookfield Office Properti-U COM 112823109 205 8,437 SH   SOLE   8,437 0 0
Buckeye Partners LP COM 118230101 45,356 569,509 SH   SOLE 1 569,509 0 0
Bunge Ltd. COM G16962105 1,231 14,620 SH   SOLE 1 14,620 0 0
Calamos Convertible & High Income Fund COM 12811P108 2,391 168,599 SH   SOLE 1 150,030 0 18,569
Calumet Specialty Products Partners LP COM 131476103 2,648 96,470 SH   SOLE   96,470 0 0
Campus Crest Communities COM 13466Y105 1,538 240,297 SH   SOLE 1 192,961 0 47,336
Canadian Natl Railway COM 136375102 6,698 94,144 SH   SOLE   94,144 0 0
Canadian Natural Resources Ltd COM 136385101 229 5,869 SH   SOLE   5,869 0 0
Canadian Pacific Railway Ltd COM 13645T100 23,542 113,195 SH   SOLE   110,597 0 2,598
Capital One Financial Corp. COM 14040H105 9,615 117,800 SH   SOLE 1 84,800 0 33,000
CBL & Associates Properties COM 124830100 2,868 160,198 SH   SOLE 1 160,198 0 0
CBRE Clarion Global Real Estate Income Fund COM 12504G100 4,970 593,048 SH   SOLE 1 593,048 0 0
CenterPoint Energy Inc. COM 15189T107 34,889 1,425,780 SH   SOLE 1,2 1,404,980 0 20,800
Chatham Lodging Tr COM 16208T102 16,763 726,307 SH   SOLE 1 726,307 0 0
Cheniere Energy Inc COM 16411R208 1,386 17,321 SH   SOLE   10,821 0 6,500
Cheniere Energy Partners LP COM 16411Q101 20,885 638,282 SH   SOLE 1 638,282 0 0
Cheniere Energy Partners LP COM 16411W108 338 13,802 SH   SOLE 1 13,802 0 0
Chevron Corp. COM 166764100 179 1,500 SH   SOLE 1 0 0 1,500
Cigna Corp. COM 125509109 23,247 256,340 SH   SOLE 1 133,540 0 122,800
Cisco Systems Inc. COM 17275R102 113 4,500 SH   SOLE 1 0 0 4,500
Citigroup Inc. COM 172967424 24,625 475,202 SH   SOLE 1 321,202 0 154,000
Citrix Sys Inc COM 177376100 15,103 211,700 SH   SOLE 1 111,900 0 99,800
Clearbridge Energy Mlp COM 184692101 1,177 42,200 SH   SOLE 1 42,200 0 0
Clearbridge Energy MLP Opportunity Fd COM 18469P100 2,660 109,002 SH   SOLE 1 109,002 0 0
Clough Global Opportunities Fund COM 18914E106 4,905 411,157 SH   SOLE 1 402,400 0 8,757
CMS Energy Corp COM 125896100 56,354 1,900,005 SH   SOLE 1,2 1,874,505 0 25,500
Comerica Inc. COM 200340107 3,385 67,900 SH   SOLE 1 67,900 0 0
Compresso Partners LP COM 20467A101 2,546 105,400 SH   SOLE 1 105,400 0 0
CONE MIDSTREAM PARTNERS LP COM 206812109 16,632 591,873 SH   SOLE 1,2 577,496 0 14,377
Conocophillips COM 20825C104 273 3,564 SH   SOLE 1 1,664 0 1,900
Consumer Discretionary Selt COM 81369Y407 5,044 75,629 SH   SOLE 1 75,629 0 0
Corenergy Infrastructure Trust Inc. COM 21870U205 12,009 1,605,536 SH   SOLE 1 1,605,536 0 0
Corporate Office Properties COM 22002T108 249,541 9,702,230 SH   SOLE 1,2 5,940,502 0 3,761,728
Costco Wholesale Corp. COM 22160K105 5,063 40,400 SH   SOLE 1 10,100 0 30,300
Cousins Properties Inc. COM 222795106 162,219 13,574,839 SH   SOLE 1,2 6,409,937 0 7,164,902
Covidien PLC COM G2554F113 147 1,700 SH   SOLE 1 0 0 1,700
Crestwood Equity Partners LP COM 226344109 4,150 392,656 SH   SOLE 1 392,656 0 0
Crestwood Midstream Partners LP COM 226378107 6,839 301,689 SH   SOLE 1 301,689 0 0
Crown Castle Intl Corp COM 228227104 195,936 2,433,076 SH   SOLE 1,2 2,427,776 0 5,300
CSX Corp. COM 126408103 26,361 822,238 SH   SOLE 1 486,507 0 335,731
CubeSmart COM 229663109 357,939 19,907,603 SH   SOLE 1,2 11,483,047 0 8,424,556
CVS Health Corp. COM 126650100 20,126 252,875 SH   SOLE 1 140,800 0 112,075
CyrusOne Inc COM 23283R100 57,271 2,382,322 SH   SOLE 1 1,771,812 0 610,510
DCP Midstream Partners LP COM 23311P100 11,957 219,597 SH   SOLE 1 219,597 0 0
DDR Corp. COM 23317H102 265,374 15,862,183 SH   SOLE 1,2 6,099,337 0 9,762,846
Devon Energy Corp. COM 25179M103 25,138 368,700 SH   SOLE 1 222,100 0 146,600
Diamond Offshore Dri COM 25271C102 137 4,000 SH   SOLE   4,000 0 0
Diamondrock Hospitality Co. COM 252784301 361,610 28,518,117 SH   SOLE 1,2 13,545,040 0 14,973,077
Digital Realty Trust Inc. COM 253868103 2,814 45,112 SH   SOLE 1 45,112 0 0
Dominion Resources Inc./Va COM 25746U109 105,357 1,524,930 SH   SOLE 1,2 1,480,217 0 44,713
Doubleline Income Solutions COM 258622109 1,004 46,376 SH   SOLE 1 35,087 0 11,289
Douglas Emmett Inc. COM 25960P109 361,768 14,093,021 SH   SOLE 1,2 9,673,103 0 4,419,918
Dow 30 Prem & Dvd Incm F Inc COM 260582101 405 25,924 SH   SOLE 1 25,924 0 0
DTE Energy Company COM 233331107 56,815 746,784 SH   SOLE 1,2 735,484 0 11,300
Duke Energy Corp. COM 26441C204 34,941 467,310 SH   SOLE 1,2 442,900 0 24,410
Dynagas LNG Partners LP COM Y2188B108 15,660 663,271 SH   SOLE 1 663,271 0 0
Eastman Chemical Company COM 277432100 22,587 279,231 SH   SOLE 1 149,013 0 130,218
Eaton Vance Enh Eqt Inc Ii COM 278277108 2,051 150,693 SH   SOLE 1 150,693 0 0
Eaton Vance Insured Muni Bnd COM 27827X101 2,986 238,482 SH   SOLE 1 238,482 0 0
Eaton Vance Limited Duration Fund COM 27828H105 1,133 77,737 SH   SOLE 1 64,180 0 13,557
EATON VANCE MUNICIPAL INCOME COM 27829U105 1,243 71,624 SH   SOLE 1 71,624 0 0
Eaton Vance National Municipal Opportunities Trust COM 27829L105 2,059 103,346 SH   SOLE 1 103,346 0 0
Eaton Vance Sr Fltg Rate Trust COM 27828Q105 385 26,739 SH   SOLE 1 22,773 0 3,966
Eaton Vance T/A Global Dividend Income COM 27828S101 7,329 430,598 SH   SOLE 1 430,598 0 0
Eaton Vance T/M Buy-Write Opportunity COM 27828Y108 17,639 1,189,431 SH   SOLE 1 1,189,431 0 0
Eaton Vance Tax Adv Global Dividend O COM 27828U106 4,905 198,514 SH   SOLE 1 198,514 0 0
Eaton Vance Tax Man Global Br COM 27829C105 9,336 768,393 SH   SOLE 1 768,393 0 0
Eaton Vance Tax-Adv Dvd. Inc. Fund COM 27828G107 23,804 1,179,002 SH   SOLE 1 1,156,467 0 22,535
Eaton Vance Tax-Managed Dividend COM 27828N102 21,550 1,888,665 SH   SOLE 1 1,849,686 0 38,979
Eaton Vance Tax-Managed Global COM 27829F108 18,829 1,877,282 SH   SOLE 1 1,877,282 0 0
Ecolab Inc. COM 278865100 8,578 74,700 SH   SOLE 1 32,700 0 42,000
Ecopetrol SA ADR ADR 279158109 250 8,000 SH   SOLE   8,000 0 0
Education Realty Trust Inc. COM 28140H104 133,142 12,951,528 SH   SOLE 1,2 6,381,430 0 6,570,098
El Paso Pipeline Partners LP COM 283702108 29,856 743,430 SH   SOLE 1 743,430 0 0
EMC Corp./MASS COM 268648102 7,060 241,269 SH   SOLE 1 136,569 0 104,700
Empire State Realty Trust COM 292104106 200,958 13,379,374 SH   SOLE 1,2 9,082,451 0 4,296,923
Enable Midstream Partners LP COM 292480100 5,713 231,846 SH   SOLE 1 231,846 0 0
Enbridge Energy Mana COM 29250X103 38,682 1,039,550 SH   SOLE   1,039,550 0 0
Enbridge Inc COM 29250N105 110,181 2,296,835 SH   SOLE   2,201,461 0 95,374
Energy Select Sector Spdr COM 81369Y506 3,354 37,009 SH   SOLE 1 37,009 0 0
Energy Transfer Equity Lp COM 29273V100 63,559 1,030,304 SH   SOLE 1,2 1,016,804 0 13,500
Energy Transfer Partners LP COM 29273R109 31,550 493,053 SH   SOLE 1 493,053 0 0
Eni SPA ADR 26874R108 3,893 82,400 SH   SOLE 1 82,400 0 0
EnLink Midstream Partners LP COM 29336U107 9,311 305,791 SH   SOLE 1 305,791 0 0
Ensco PLC COM G3157S106 7,989 193,400 SH   SOLE 1 117,500 0 75,900
Enterprise Products Partners COM 293792107 71,089 1,764,006 SH   SOLE 1 1,764,006 0 0
Eog Res Inc COM 26875P101 21,126 213,350 SH   SOLE 1 127,250 0 86,100
EPR Properties COM 26884U109 2,433 48,000 SH   SOLE 1 48,000 0 0
EPR Properties 9% E PFD 26884U307 9,485 311,241 SH   SOLE 1 191,000 0 120,241
EQT Midstream Partners LP COM 26885B100 41,616 464,417 SH   SOLE 1,2 453,717 0 10,700
Equitable Resources Inc. COM 26884L109 1,608 17,569 SH   SOLE 1 17,569 0 0
Equity Commonwealth COM 294628102 54,944 2,137,083 SH   SOLE 1,2 1,901,228 0 235,855
Equity Commonwealth Pfd. D PFD 294628201 7,421 310,648 SH   SOLE 1 169,748 0 140,900
Equity Commonwealth Pr. E PFD 294628409 4,285 166,524 SH   SOLE 1 0 0 166,524
Equity Residential COM 29476L107 1,680,598 27,291,293 SH   SOLE 1,2 15,204,271 0 12,087,022
Essex Property Trust Inc. COM 297178105 431,378 2,413,304 SH   SOLE 1,2 838,430 0 1,574,874
Estee Lauder Companies-Cl A COM 518439104 2,787 37,300 SH   SOLE 1 0 0 37,300
EV Energy Partner LP COM 26926V107 1,774 50,000 SH   SOLE 1 50,000 0 0
Exelon Corp. COM 30161N101 42,263 1,239,757 SH   SOLE 1,2 1,190,231 0 49,526
Extended Stay America Inc. COM 30224P200 48,480 2,042,133 SH   SOLE 1,2 1,643,852 0 398,281
Exterran Partners Lp COM 30225N105 4,648 158,460 SH   SOLE 1 158,460 0 0
Extra Space Storage Inc. COM 30225T102 482,110 9,348,645 SH   SOLE 1,2 4,098,066 0 5,250,579
Exxon Mobil Corp. COM 30231G102 53,887 572,963 SH   SOLE 1 369,729 0 203,234
F5 Networks Inc COM 315616102 24,864 209,400 SH   SOLE 1 111,300 0 98,100
FCB Financial Holdings COM 30255G103 16,640 732,705 SH   SOLE 1 732,705 0 0
Federal Realty Investment Trust COM 313747206 180,257 1,521,670 SH   SOLE 1 0 0 1,521,670
Financial Select Sector SPDR COM 81369Y605 1,754 75,700 SH   SOLE 1 75,700 0 0
First Industrial Realty Trust COM 32054K103 248,974 14,723,455 SH   SOLE 1,2 8,178,241 0 6,545,214
First Trust Aberdeen Global Fund COM 337319107 1,817 133,615 SH   SOLE 1 118,600 0 15,015
First Trust Energy Income and Growth Fund COM 33738G104 15,274 415,275 SH   SOLE 1 415,275 0 0
First Trust Energy Infra. COM 33738C103 1,068 44,750 SH   SOLE 1 44,750 0 0
First Trust MLP and Energy Inc COM 33739B104 4,359 203,967 SH   SOLE   203,967 0 0
Flah & Crum/Claymore Preferred S I COM 338478100 5,290 273,955 SH   SOLE 1 262,810 0 11,145
Flah & Crum/Claymore Total Return Fund COM 338479108 5,111 258,938 SH   SOLE 1 250,679 0 8,259
Flaherty & Crumrine Dynamic COM 33848W106 3,134 138,738 SH   SOLE 1 120,057 0 18,681
Ford Motor Co COM 345370860 5,125 346,500 SH   SOLE 1 173,700 0 172,800
Foresight Energy LP COM 34552U104 3 150 SH   SOLE 1 150 0 0
Forest City Enterprises Cl A COM 345550107 193,283 9,881,535 SH   SOLE 1,2 8,822,551 0 1,058,984
Franklin Limited Duration Income Trust COM 35472T101 1,423 114,977 SH   SOLE 1 103,900 0 11,077
Freeport-Mcmoran Copper COM 35671D857 273 8,350 SH   SOLE 1 8,350 0 0
Gabelli Dividend & Income Trust COM 36242H104 21,482 1,008,567 SH   SOLE 1 987,240 0 21,327
Gabelli Equity Trust COM 362397101 2,256 353,578 SH   SOLE 1 353,578 0 0
Gabelli Equity Trust - RTS -W/I RIGHT 362397184 20 353,584 SH   SOLE 1 353,584 0 0
GasLog Ltd. COM G37585109 142 6,459 SH   SOLE 1 6,459 0 0
GasLog Partners LP COM Y2687W108 67 2,185 SH   SOLE 1 2,185 0 0
General Dynamics Corp. COM 369550108 2,707 21,300 SH   SOLE 1 20,700 0 600
General Electric Co. COM 369604103 6,493 253,430 SH   SOLE 1 136,830 0 116,600
General Growth Properties COM 370023103 664,306 28,208,327 SH   SOLE 1,2 25,194,475 0 3,013,852
General Mills Inc. COM 370334104 11,160 221,200 SH   SOLE 1 112,000 0 109,200
Genesis Energy LP COM 371927104 17 327 SH   SOLE   327 0 0
Gerdau SA ADR ADR 373737105 160 33,300 SH   SOLE 1 33,300 0 0
Gilead Sciences Inc COM 375558103 17,266 162,200 SH   SOLE   84,200 0 78,000
Glimcher Realty Trust COM 379302102 140,801 10,398,901 SH   SOLE 1,2 9,134,155 0 1,264,746
Golar LNG Ltd COM G9456A100 495 7,452 SH   SOLE 1 7,452 0 0
Golar LNG Partners LP COM Y2745C102 32,251 928,874 SH   SOLE 1 928,874 0 0
Goldcorp Inc COM 380956409 240 10,423 SH   SOLE 1 10,423 0 0
Google Inc Cl C COM 38259P706 2,829 4,900 SH   SOLE 1 0 0 4,900
Google Inc. Cl A COM 38259P508 6,826 11,600 SH   SOLE 1 4,600 0 7,000
Gramercy Property Trust Inc COM 38489R100 54,409 9,446,074 SH   SOLE 1 9,246,368 0 199,706
Grupo Aeroportuario PAC - ADR ADR 400506101 24,551 364,041 SH   SOLE 1,2 338,051 0 25,990
Grupo Aeroportuario SUR - ADR ADR 40051E202 1,400 10,893 SH   SOLE 1 5,387 0 5,506
Guggenheim Build America COM 401664107 284 13,341 SH   SOLE 1 8,854 0 4,487
Hanesbrands Inc COM 410345102 16,331 152,000 SH   SOLE 1 83,200 0 68,800
Harley-Davidson Inc. COM 412822108 9,859 169,400 SH   SOLE 1 79,100 0 90,300
Hartford Financial Svcs Grp COM 416515104 16,178 434,300 SH   SOLE 1 276,700 0 157,600
Health Care REIT Inc. COM 42217K106 874,664 14,023,789 SH   SOLE 1,2 7,478,724 0 6,545,065
Healthcare Trust of America COM 42225P105 276,357 23,823,866 SH   SOLE 1,2 12,040,095 0 11,783,771
Hersha Hospitality Trust COM 427825104 17,266 2,710,547 SH   SOLE 1 2,710,547 0 0
Hewlett-Packard Co. COM 428236103 38,187 1,076,600 SH   SOLE 1 589,600 0 487,000
Highwoods Properties Inc. COM 431284108 42,078 1,081,700 SH   SOLE 1 0 0 1,081,700
Hilton Worldwide Holdings COM 43300A104 226,930 9,213,542 SH   SOLE 1,2 8,226,373 0 987,169
Hoegh LNG Partners LP COM Y3262R100 6,920 302,032 SH   SOLE 1 302,032 0 0
Home Depot Inc. COM 437076102 6,697 73,000 SH   SOLE 1 6,900 0 66,100
Home Properties Inc. COM 437306103 574,010 9,855,940 SH   SOLE 1,2 5,432,243 0 4,423,697
Host Hotels & Resorts Inc. COM 44107P104 646,604 30,314,297 SH   SOLE 1 13,113,415 0 17,200,882
HSBC Holdings PLC 6.20% (HBC A) PFD 404280604 443 17,600 SH   SOLE 1 17,600 0 0
Hudson Pacific Prop COM 444097109 25,755 1,044,409 SH   SOLE 1 1,044,409 0 0
Huntington Bancshare COM 446150104 7,715 792,900 SH   SOLE 1 450,900 0 342,000
Huntington Bancshares 8.5% CV (HBANP) PFD 446150401 32,527 24,642 SH   SOLE 1 24,642 0 0
I Shares Gold Trust COM 464285105 7,978 681,900 SH   SOLE 1 681,900 0 0
Ingredion Inc COM 457187102 311 4,100 SH   SOLE 1 4,100 0 0
Inland Real Estate Corp. COM 457461200 2,119 213,803 SH   SOLE 1 213,803 0 0
Intel Corp. COM 458140100 3,005 86,311 SH   SOLE 1 0 0 86,311
Invesco Van kampen Municipal Opportunity trust COM 46132C107 2,795 223,033 SH   SOLE 1 223,033 0 0
John Hancock Preferred Income Fund COM 41013W108 772 38,524 SH   SOLE 1 28,834 0 9,690
John Hancock T/A Dividend Income Fund COM 41013V100 17,652 856,477 SH   SOLE 1 834,256 0 22,221
Johnson & Johnson COM 478160104 234 2,200 SH   SOLE 1 0 0 2,200
JP Morgan Chase & Co COM 46625H100 31,029 515,094 SH   SOLE 1 336,394 0 178,700
Kansas City Southn COM 485170302 706 5,821 SH   SOLE   5,821 0 0
Kayne Anderson Energy Total Return COM 48660P104 7,877 246,854 SH   SOLE 1 246,854 0 0
Kayne Anderson MidstreamEnergy COM 48661E108 5,044 125,815 SH   SOLE 1 125,815 0 0
Kayne Anderson MLP Investment COM 486606106 14,081 344,785 SH   SOLE 1 344,785 0 0
Kilroy Realty Corp. COM 49427F108 496,613 8,354,862 SH   SOLE 1,2 4,078,583 0 4,276,279
Kimco Realty Corp. COM 49446R109 691,334 31,553,351 SH   SOLE 1,2 16,509,813 0 15,043,538
Kinder Morgan Inc. COM 49456B101 12,168 317,381 SH   SOLE 1 276,481 0 40,900
Kinder Morgan Manage COM 49455U100 88,450 939,457 SH   SOLE 1,2 929,957 0 9,500
Knot Offshore Partners LP COM Y48125101 4,606 184,459 SH   SOLE 1 184,459 0 0
Kodiak Oil & Gas Corp COM 50015Q100 14,901 1,098,100 SH   SOLE 1 636,700 0 461,400
Kroger Co COM 501044101 11,929 229,400 SH   SOLE 1 115,600 0 113,800
L-3 Communications Holdings COM 502424104 14,169 119,150 SH   SOLE 1 65,500 0 53,650
La Quinta Holdings Inc. COM 50420D108 40,807 2,148,884 SH   SOLE 1 2,011,842 0 137,042
Las Vegas Sands Corp. COM 517834107 10,283 165,300 SH   SOLE 1 88,900 0 76,400
Legg Mason BW Global Income COM 52469B100 3,341 197,486 SH   SOLE 1 173,700 0 23,786
Lexington Corp Pr C CV PFD 529043309 8,739 184,281 SH   SOLE 1 184,281 0 0
Liberty Property Trust COM 531172104 218,985 6,584,026 SH   SOLE 1,2 5,234,048 0 1,349,978
Linn Co Llc COM 535782106 99 3,433 SH   SOLE 1 3,433 0 0
LMP Capital And Income Fund COM 50208A102 3,351 198,140 SH   SOLE 1 198,140 0 0
LMP Real Estate Income Fund COM 50208C108 592 52,732 SH   SOLE 1 52,732 0 0
Mack-Cali Realty Corp. COM 554489104 182,157 9,532,014 SH   SOLE 1,2 4,909,980 0 4,622,034
Macquarie Global Infr Tot Rt COM 55608D101 1,572 63,636 SH   SOLE 1 63,636 0 0
Magellan Midstream Partners COM 559080106 9,220 109,526 SH   SOLE 1 109,526 0 0
Market Vectors Oil Service ETF COM 57060U191 5,254 105,900 SH   SOLE 1 105,900 0 0
MarkWest Energy Partners LP COM 570759100 78,987 1,028,210 SH   SOLE 1 1,028,210 0 0
Martin Midstream Partners LP COM 573331105 3,267 87,623 SH   SOLE   87,623 0 0
McDonald's Corp. COM 580135101 151 1,597 SH   SOLE 1 0 0 1,597
Memorial Production Partners COM 586048100 2,223 101,067 SH   SOLE 1 101,067 0 0
MFS Multimarket Income Trust COM 552737108 1,259 196,070 SH   SOLE 1 174,356 0 21,714
Microsoft Corp. COM 594918104 27,394 590,900 SH   SOLE 1 253,300 0 337,600
Midcoast Energy Partners LP COM 59564N103 3,144 140,904 SH   SOLE 1 140,904 0 0
Monsanto Co COM 61166W101 14,536 129,200 SH   SOLE 1 57,200 0 72,000
Morgan Stanley COM 617446448 13,069 378,051 SH   SOLE 1 208,151 0 169,900
Mosaic Company COM 61945C103 444 10,000 SH   SOLE 1 10,000 0 0
MPLX LP COM 55336V100 22,562 382,802 SH   SOLE 1,2 372,202 0 10,600
National Retail Properties COM 637417106 99,427 2,876,114 SH   SOLE 1 0 0 2,876,114
NATL WESTMINSTER 7.76% (NW C) PFD 638539882 29,551 1,141,862 SH   SOLE 1 1,135,966 0 5,896
Natural Resource Partners LP COM 63900P103 3,651 280,000 SH   SOLE 1 280,000 0 0
NetApp Inc. COM 64110D104 232 5,400 SH   SOLE 1 0 0 5,400
New America High Income Fund COM 641876800 1,320 140,300 SH   SOLE 1 117,700 0 22,600
New York Reit Inc COM 64976L109 22,734 2,211,433 SH   SOLE 1,2 1,689,442 0 521,991
Newmont Mining Corp COM 651639106 214 9,300 SH   SOLE 1 9,300 0 0
NextEra Energy Inc COM 65339F101 114,648 1,221,219 SH   SOLE 1,2 1,105,457 0 115,762
Nextera Energy Partners LP COM 65341B106 9,474 273,117 SH   SOLE 1,2 267,417 0 5,700
NGL Energy Partners LP COM 62913M107 39,438 1,001,717 SH   SOLE 1 1,001,717 0 0
NiSource Inc. COM 65473P105 11,512 280,918 SH   SOLE 1,2 280,918 0 0
Norfolk Southern Corp. COM 655844108 2,228 19,962 SH   SOLE 1 18,662 0 1,300
Northern Tier Energy Lp COM 665826103 2,628 112,560 SH   SOLE 1 112,560 0 0
NRG Yield Inc. COM 62942X108 303 6,440 SH   SOLE 1 6,440 0 0
Nucor Corp COM 670346105 174 3,200 SH   SOLE 1 3,200 0 0
NuStar Energy LP COM 67058H102 15,640 237,178 SH   SOLE 1 237,178 0 0
NuStar GP Holdings LLC COM 67059L102 4,688 107,765 SH   SOLE   107,765 0 0
Nuveen California AMT-Free Municipal Income Fund COM 670651108 2,317 166,544 SH   SOLE 1 166,544 0 0
Nuveen Diversified Commodity COM 67074P104 762 55,232 SH   SOLE 1 55,232 0 0
Nuveen Dividend Advantage Municipal Fund 2 COM 67070F100 3,402 244,226 SH   SOLE 1 244,226 0 0
Nuveen Energy MLP Total Return COM 67074U103 6,591 298,099 SH   SOLE 1 298,099 0 0
Nuveen Equity Premium Opportunity Fund COM 6706EM102 2,747 215,586 SH   SOLE 1 215,586 0 0
Nuveen Floating Rate Income Opportunity Fund COM 6706EN100 110 9,648 SH   SOLE 1 0 0 9,648
Nuveen Mtg Opportunity COM 670735109 90 3,805 SH   SOLE 1 0 0 3,805
Nuveen Mtg Oppty Term F COM 67074R100 878 37,715 SH   SOLE 1 34,500 0 3,215
Nuveen Muni Mkt Opportunity COM 67062W103 3,374 254,449 SH   SOLE 1 254,449 0 0
Nuveen New York AMT-Free Municipal Income Fund COM 670656107 1,554 121,420 SH   SOLE 1 121,420 0 0
Nuveen Performance Plus Muni COM 67062P108 2,028 139,866 SH   SOLE 1 139,866 0 0
Nuveen Preferred & Income Term Fund COM 67075A106 7,698 336,028 SH   SOLE 1 320,671 0 15,357
Nuveen Preferred Income Opportunities Fund COM 67073B106 14,834 1,612,418 SH   SOLE 1 1,575,269 0 37,149
Nuveen Premier Muni Inc Fd COM 670988104 4,009 298,033 SH   SOLE 1 298,033 0 0
Nuveen Premium Inc Muni Fd 2 COM 67063W102 4,005 291,308 SH   SOLE 1 291,308 0 0
Nuveen Premium Inc Muni Fd 4 COM 6706K4105 2,256 177,202 SH   SOLE 1 177,202 0 0
Nuveen Real Estate Income Fund COM 67071B108 6,355 604,705 SH   SOLE 1 604,705 0 0
Nuveen Select Qualty Muni Fd COM 670973106 1,728 126,420 SH   SOLE 1 126,420 0 0
Nuveen Short Duration Credit COM 67074X107 1,426 83,290 SH   SOLE 1 75,205 0 8,085
Nuveen Tax-Adv Tot Ret Strat COM 67090H102 3,443 248,576 SH   SOLE 1 248,576 0 0
Nuveen Tax-Advantaged Dividend Growth Fund COM 67073G105 3,211 207,534 SH   SOLE 1 207,534 0 0
Occidental Petroleum Corp. COM 674599105 144 1,500 SH   SOLE 1 0 0 1,500
Oiltanking Partners LP COM 678049107 27,837 561,344 SH   SOLE 1 561,344 0 0
Omega Healthcare Investors COM 681936100 261,249 7,641,106 SH   SOLE 1,2 3,416,421 0 4,224,685
Oneok Inc. COM 682680103 688 10,500 SH   SOLE 1 10,500 0 0
ONEOK Partners LP COM 68268N103 22 399 SH   SOLE 1 399 0 0
P G & E Corp. COM 69331C108 25,107 557,444 SH   SOLE 1,2 537,644 0 19,800
PACCAR Inc. COM 693718108 10,971 192,900 SH   SOLE 1 110,200 0 82,700
Parkway Properties Inc. COM 70159Q104 105,167 5,599,938 SH   SOLE 1,2 4,349,420 0 1,250,518
Pattern Energy Group Inc. COM 70338P100 2,268 73,348 SH   SOLE 1 73,348 0 0
PBF Logistics LP COM 69318Q104 67 2,643 SH   SOLE 1 2,643 0 0
Pebblebrook Hotel Trust COM 70509V100 89,486 2,396,506 SH   SOLE 1 0 0 2,396,506
Pembina Pipeline Corp COM 706327103 339 8,030 SH   SOLE   8,030 0 0
Penn Real Estate Investment Trust COM 709102107 119,351 5,985,527 SH   SOLE 1,2 5,078,006 0 907,521
Pentair Plc COM G7S00T104 864 13,200 SH   SOLE   13,200 0 0
Pepsico Inc. COM 713448108 680 7,300 SH   SOLE 1 6,500 0 800
Perrigo Co Plc COM G97822103 13,003 86,580 SH   SOLE 1 38,192 0 48,388
Petroleo Brasileiro S.A. - ADR ADR 71654V408 131 9,200 SH   SOLE 1 9,200 0 0
Pfizer Inc. COM 717081103 25,607 865,967 SH   SOLE 1 464,284 0 401,683
Philip Morris International COM 718172109 111 1,328 SH   SOLE 1 0 0 1,328
Phillips 66 COM 718546104 179 2,200 SH   SOLE   2,200 0 0
Physicians Realty Trust COM 71943U104 24,523 1,787,426 SH   SOLE 1 1,415,802 0 371,624
Piedmont Office Realty Tru-A COM 720190206 342 19,386 SH   SOLE 1 19,386 0 0
PIMCO Corporate Opportunity COM 72201B101 7,905 463,363 SH   SOLE 1 448,838 0 14,525
Pimco Dynamic Credit Income COM 72202D106 14,980 666,652 SH   SOLE 1 648,155 0 18,497
Pimco Dynamic Income Fund COM 72201Y101 15,341 486,091 SH   SOLE 1 471,197 0 14,894
PIMCO Income Opportunity Fund COM 72202B100 14,548 527,308 SH   SOLE 1 511,850 0 15,458
PIMCO Income Strategy Fund II COM 72201J104 11,691 1,110,218 SH   SOLE 1 1,068,113 0 42,105
Pimco Municipal Income Fund II COM 72200W106 6,224 534,241 SH   SOLE 1 534,241 0 0
PIMCO Municipal Income Fund III COM 72201A103 1,805 168,556 SH   SOLE 1 168,556 0 0
Pinnacle Foods Inc Del COM 72348P104 264 8,100 SH   SOLE 1 8,100 0 0
Pioneer Diversified High Income COM 723653101 1,588 80,249 SH   SOLE 1 80,249 0 0
Pioneer Floating Rate Trust COM 72369J102 1,495 127,218 SH   SOLE 1 114,629 0 12,589
Plains All American Pipeline LP COM 726503105 45 772 SH   SOLE 1 772 0 0
Plains GP Holdings LP COM 72651A108 53,240 1,737,035 SH   SOLE 1,2 1,700,735 0 36,300
Post Properties Inc. COM 737464107 112,979 2,200,612 SH   SOLE 1,2 1,787,260 0 413,352
Potash Corp of Saskatchewan COM 73755L107 5,601 161,400 SH   SOLE 1 54,300 0 107,100
Potash Corp of Saskatchewan - US COM 73755L107 5,512 159,500 SH   SOLE 1 159,500 0 0
PPL Corp. COM 69351T106 9,559 291,075 SH   SOLE 1,2 277,175 0 13,900
Procter & Gamble Co. COM 742718109 151 1,800 SH   SOLE 1 0 0 1,800
ProLogis Inc. COM 74340W103 1,353,557 35,903,366 SH   SOLE 1,2 18,594,544 0 17,308,822
Prudential Finl Inc COM 744320102 14,449 164,300 SH   SOLE 1 101,300 0 63,000
PS Business Parks Inc. COM 69360J107 10,244 134,542 SH   SOLE 1 134,542 0 0
Public Storage COM 74460D109 1,223,431 7,377,178 SH   SOLE 1,2 3,897,359 0 3,479,819
Putnam Premier Income Trust COM 746853100 1,905 347,600 SH   SOLE 1 347,600 0 0
QEP Midstream Partners LP COM 74735R115 2 102 SH   SOLE 1 102 0 0
QTS Realty Trust Inc. Cl-A COM 74736A103 73,201 2,411,883 SH   SOLE 1,2 2,173,774 0 238,109
Qualcomm Inc. COM 747525103 3,118 41,700 SH   SOLE 1 0 0 41,700
Ramco-Gershenson Properties COM 751452202 155,128 9,546,357 SH   SOLE 1,2 7,936,839 0 1,609,518
Realty Income Corp. COM 756109104 1,057 25,906 SH   SOLE 2 0 0 25,906
Reaves Utility Income Fund COM 756158101 2,856 98,391 SH   SOLE 1 98,391 0 0
Regency Centers Corp. COM 758849103 728,546 13,534,192 SH   SOLE 1,2 7,462,414 0 6,071,778
Regency Energy Partners Lp COM 75885Y107 9,480 290,624 SH   SOLE 1 290,624 0 0
Republic Services Inc. COM 760759100 152 3,900 SH   SOLE 1 0 0 3,900
Retail Properties of America COM 76131V202 312,848 21,383,995 SH   SOLE 1,2 11,359,069 0 10,024,926
Rexford Industrial Realty Inc COM 76169C100 38,867 2,808,331 SH   SOLE 1 2,662,265 0 146,066
RLJ Lodging Trust COM 74965L101 130,271 4,575,742 SH   SOLE 1 0 0 4,575,742
Rogers Communications Inc COM 775109200 105 2,800 SH   SOLE   0 0 2,800
Rose Rock Midstream LP COM 777149105 23,090 390,357 SH   SOLE 1 390,357 0 0
Ross Stores Inc COM 778296103 8,805 116,500 SH   SOLE 1 39,600 0 76,900
Royal Bank of Scotland Pr.H PFD 780097879 61 2,387 SH   SOLE 1 200 0 2,187
Royce Globe Value Trust - W/I COM 78081T104 1,553 178,471 SH   SOLE 1 178,471 0 0
Royce Value Trust COM 780910105 1,153 79,505 SH   SOLE 1 79,505 0 0
Sandisk Corp COM 80004C101 11,377 116,153 SH   SOLE 1 57,053 0 59,100
SBA Communications Corp. Cl A COM 78388J106 95,512 861,241 SH   SOLE 1,2 861,241 0 0
Schlumberger Ltd. COM 806857108 1,251 12,300 SH   SOLE 1 0 0 12,300
Seadrill Partners LLC COM Y7545W109 20,042 642,587 SH   SOLE 1 635,787 0 6,800
Semgroup Corp COM 81663A105 47,703 572,876 SH   SOLE 1,2 552,884 0 19,992
Sempra Energy COM 816851109 89,660 850,823 SH   SOLE 1,2 827,110 0 23,713
Simon Property Group Inc. COM 828806109 2,858,097 17,382,902 SH   SOLE 1,2 9,456,461 0 7,926,441
Skyworks Solutions I COM 83088M102 17,932 308,900 SH   SOLE   165,000 0 143,900
SL Green Realty Corp. COM 78440X101 967,637 9,550,310 SH   SOLE 1,2 5,038,386 0 4,511,924
SM Energy Co COM 78454L100 686 8,800 SH   SOLE 1 8,800 0 0
Southcross Energy Partners L COM 84130C100 8,025 375,879 SH   SOLE 1 375,879 0 0
Southern Co COM 842587107 3,285 75,260 SH   SOLE 1 58,260 0 17,000
Southern Copper Corp COM 84265V105 525 17,700 SH   SOLE   17,700 0 0
Sovran Self Storage Inc. COM 84610H108 222,511 2,992,351 SH   SOLE 1,2 2,676,077 0 316,274
SPDR Trust Series 1 COM 78462F103 7,762 39,396 SH   SOLE 1 39,396 0 0
Spectra Energy Corp. COM 847560109 18,520 471,719 SH   SOLE 1 413,212 0 58,507
Spectra Energy Partners LP COM 84756N109 7,416 139,957 SH   SOLE   139,957 0 0
Spirit Realty Capital COM 84860W102 258,394 23,554,623 SH   SOLE 1,2 13,091,744 0 10,462,879
Sprague Resources COM 849343108 9,536 375,000 SH   SOLE 1 375,000 0 0
Spx Corp COM 784635104 11,926 126,964 SH   SOLE   64,324 0 62,640
STAG Industrial COM 85254J102 29,682 1,433,240 SH   SOLE 1 1,433,240 0 0
Starbucks Corp COM 855244109 7,320 97,000 SH   SOLE   26,300 0 70,700
Starwood Waypoint Reside COM 85571W109 40,834 1,569,933 SH   SOLE 1,2 1,191,975 0 377,958
Stillwater Mng Co COM 86074Q102 337 22,400 SH   SOLE 1 22,400 0 0
Stone Harbor Emerging Market COM 86164T107 1,720 89,078 SH   SOLE 1 80,700 0 8,378
Strategic Hotels & Resorts I COM 86272T106 381,325 32,731,801 SH   SOLE 1,2 21,284,028 0 11,447,773
Suburban Propane Partners LP COM 864482104 7,230 162,288 SH   SOLE 1 162,288 0 0
Summit Hotel Properties COM 866082100 17,980 1,667,886 SH   SOLE 1 1,234,128 0 433,758
Summit Midstream Partners Lp COM 866142102 18,904 371,696 SH   SOLE 1,2 364,696 0 7,000
Sun Communities Inc. COM 866674104 192,337 3,808,647 SH   SOLE 1,2 3,121,227 0 687,420
Suncor Energy Inc COM 867224107 671 18,500 SH   SOLE   11,600 0 6,900
Sunoco Logistics Partners LP COM 86764L108 31 640 SH   SOLE 1 640 0 0
Sunstone Hotel Investors Inc. COM 867892101 477,513 34,552,286 SH   SOLE 1,2 22,149,696 0 12,402,590
Sunstone Hotel Pr. D PFD 867892507 19,522 722,370 SH   SOLE 1 540,870 0 181,500
Tallgrass Energy Partners LP COM 874697105 26,020 574,277 SH   SOLE 1,2 561,477 0 12,800
Targa Resources Corp COM 87612G101 2,358 17,315 SH   SOLE 1 17,315 0 0
Targa Resources Partners Lp COM 87611X105 10,560 145,951 SH   SOLE 1 145,951 0 0
Taubman Centers Inc. COM 876664103 433,513 5,938,532 SH   SOLE 1,2 3,126,031 0 2,812,501
TC Pipelines LP COM 87233Q108 7,398 109,255 SH   SOLE 1 109,255 0 0
TE Connectivity LTD COM H84989104 1,823 32,964 SH   SOLE 1 30,964 0 2,000
Teekay Corp. COM Y8564W103 59,695 899,563 SH   SOLE 1,2 880,463 0 19,100
Teekay Offshore Partners Lp COM Y8565J101 26,233 780,748 SH   SOLE 1 780,748 0 0
Templeton Global Income Fund COM 880198106 538 67,615 SH   SOLE 1 61,609 0 6,006
Terraform Power Inc COM 88104R100 70 2,436 SH   SOLE 1 2,436 0 0
Tesoro Logistics LP COM 88160T107 271 3,828 SH   SOLE 1 3,828 0 0
The Macerich Co. COM 554382101 469,508 7,355,604 SH   SOLE 1 1,744,831 0 5,610,773
Thermo Fisher Scientific Inc. COM 883556102 11,827 97,183 SH   SOLE 1 50,092 0 47,091
Time Warner Cable In COM 88732J207 72 500 SH   SOLE 1 0 0 500
Toll Brothers Inc COM 889478103 50,597 1,623,795 SH   SOLE 1,2 1,487,273 0 136,522
Toronto-Dominion Bank COM 891160509 1,269 25,700 SH   SOLE 1 25,700 0 0
Transocean Partners LLP COM Y8977Y100 9,144 349,272 SH   SOLE 1,2 341,672 0 7,600
Tri Pointe Homes LLC COM 87265H109 2,657 205,347 SH   SOLE 1 205,347 0 0
Triumph Group Inc Ne COM 896818101 10,488 161,234 SH   SOLE 1 100,834 0 60,400
Tyson Foods Inc COM 902494103 40,825 1,036,964 SH   SOLE 1 590,664 0 446,300
UDR Inc. COM 902653104 921,570 33,819,085 SH   SOLE 1,2 19,172,797 0 14,646,288
UMH Properties 8.25% (UMH.PRA) PFD 903002202 4,218 161,000 SH   SOLE 1 50,000 0 111,000
Union Pacific Corp. COM 907818108 28,402 261,962 SH   SOLE 1,2 256,962 0 5,000
United Parcel Service Cl B COM 911312106 659 6,700 SH   SOLE 1 5,800 0 900
United Technologies Corp. COM 913017109 5,100 48,300 SH   SOLE 1 0 0 48,300
Universal Health Services COM 913903100 18,925 181,100 SH   SOLE 1 101,900 0 79,200
USA Compression Partners LP COM 90290N109 18,605 765,962 SH   SOLE 1 765,962 0 0
Vale S.A. ADR ADR 91912E105 279 25,300 SH   SOLE 1 25,300 0 0
Valero Energy Partners COM 91914J102 9,909 222,027 SH   SOLE 1 218,027 0 4,000
Ventas Inc. COM 92276F100 1,028,005 16,594,107 SH   SOLE 1,2 7,594,708 0 8,999,399
VF Corp. COM 918204108 14,395 218,000 SH   SOLE 1 125,500 0 92,500
Visa Inc.-Class A Shares COM 92826C839 1,408 6,600 SH   SOLE 1 0 0 6,600
Vornado Realty Trust COM 929042109 1,191,079 11,915,560 SH   SOLE 1,2 6,153,969 0 5,761,591
Vtti Energy Partners LP COM Y9384M101 19,868 792,826 SH   SOLE 1,2 776,426 0 16,400
Wal-Mart Stores Inc. COM 931142103 4,015 52,500 SH   SOLE 1 0 0 52,500
Walt Disney Co. COM 254687106 25,605 287,600 SH   SOLE 1 158,500 0 129,100
Washington Prime Group Inc COM 939647103 80,143 4,584,822 SH   SOLE 1 3,819,837 0 764,985
Weingarten Realty Investors COM 948741103 513,872 16,313,411 SH   SOLE 1,2 9,028,415 0 7,284,996
Wells Fargo & Co. COM 949746101 19,706 379,913 SH   SOLE 1 268,187 0 111,726
Wells Fargo Advantage Income Opportunities Fund COM 94987B105 1,791 197,938 SH   SOLE 1 173,800 0 24,138
Wells Fargo Advantage Multi-sector COM 94987D101 2,543 182,158 SH   SOLE 1 161,978 0 20,180
Wells Fargo Co 7.5% (WFC L) PFD 949746804 6,734 5,600 SH   SOLE 1 5,600 0 0
Western Asset Global Cp COM 95790C107 1,470 80,815 SH   SOLE 1 71,806 0 9,009
Western Asset Global High In COM 95766B109 1,366 112,050 SH   SOLE 1 96,400 0 15,650
Western Asset High Yield Defined Opportunity COM 95768B107 1,400 84,285 SH   SOLE 1 75,800 0 8,485
Western Asset Municipal Part COM 95766P108 354 23,798 SH   SOLE 1 23,798 0 0
Western Asset Premier Bond COM 957664105 839 58,561 SH   SOLE 1 58,561 0 0
Western Digital Corp COM 958102105 12,311 126,500 SH   SOLE 1 68,700 0 57,800
Western Gas Equity Partners COM 95825R103 263 4,317 SH   SOLE 1 4,317 0 0
Western Gas Partners LP COM 958254104 10 135 SH   SOLE 1 135 0 0
Westlake Chemical Partners LP COM 960417103 5,814 200,481 SH   SOLE 1 200,481 0 0
Weyerhaeuser Co COM 962166104 771 24,214 SH   SOLE 1 24,214 0 0
Williams Cos Inc. COM 969457100 94,075 1,699,632 SH   SOLE 1,2 1,635,679 0 63,953
Williams Partners LP COM 96950F104 30,178 568,862 SH   SOLE 1 568,862 0 0
Wisconsin Energy Corp. COM 976657106 778 18,094 SH   SOLE 1 18,094 0 0
WW Grainger Inc COM 384802104 6,669 26,500 SH   SOLE 1 4,400 0 22,100
Xilinx Inc COM 983919101 13,400 316,400 SH   SOLE 1 174,900 0 141,500
YAHOO! Inc. COM 984332106 6,932 170,100 SH   SOLE 1 95,200 0 74,900
Zimmer Holdings Inc. COM 98956P102 17,918 178,200 SH   SOLE 1 98,800 0 79,400