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
21st Century Fox Inc COM 90130A101 13,300 397,000 SH   SOLE 1 302,100 0 94,900
Abbott Laboratories COM 002824100 20,189 608,300 SH   SOLE 1 512,300 0 96,000
Abbvie Inc COM 00287Y109 197 4,400 SH   SOLE 1 0 0 4,400
Accenture Plc COM G1151C101 74 1,000 SH   SOLE 1 0 0 1,000
Access Midstream Partners LP COM 00434L109 28,654 593,118 SH   SOLE 1 593,118 0 0
Aetna Inc COM 00817Y108 31,619 493,900 SH   SOLE 1 425,200 0 68,700
AGIC Convertible & Income FD II COM 018825109 10,911 1,267,293 SH   SOLE 1 1,244,005 0 23,288
AGIC Convertible & Income Fund COM 018828103 12,460 1,321,293 SH   SOLE 1 1,296,314 0 24,979
Alaska Airgroup COM 011659109 35,161 561,500 SH   SOLE 1 488,500 0 73,000
Alexander's Inc. COM 014752109 2,488 8,695 SH   SOLE 1 8,695 0 0
Alexandria Real Estate Equities COM 015271109 120,057 1,880,304 SH   SOLE 1,2 733,990 0 1,146,314
Alliance Holdings GP LP COM 01861G100 17 280 SH   SOLE 1 280 0 0
AllianceBernstein Global High Income Fund COM 01879R106 6,761 449,861 SH   SOLE 1 433,705 0 16,156
AllianceBernstein Income Fund COM 01881E101 996 141,451 SH   SOLE 1 128,300 0 13,151
Alpine Global Premier Properties Fund COM 02083A103 5,090 706,031 SH   SOLE 1 706,031 0 0
Alpine Total Dynamic Dividend Fund COM 021060108 2,886 717,896 SH   SOLE 1 717,896 0 0
American Assets Trust Inc COM 024013104 174,355 5,714,698 SH   SOLE 1,2 4,701,451 0 1,013,247
American Express Co. COM 025816109 34,399 455,500 SH   SOLE 1 389,300 0 66,200
American International Group COM 026874784 65,772 1,352,500 SH   SOLE 1 1,179,200 0 173,300
American Tower Corp COM 03027X100 206,617 2,787,220 SH   SOLE 1,2 2,709,920 0 77,300
American Water Works Co. Inc. COM 030420103 26,025 630,458 SH   SOLE 1 630,458 0 0
Ameriprise Finl Inc COM 03076C106 51,251 562,700 SH   SOLE 1 485,800 0 76,900
Amgen Inc. COM 031162100 2,720 24,300 SH   SOLE 1 7,900 0 16,400
AmREIT Inc. COM 03216B208 2,750 158,489 SH   SOLE 1 158,489 0 0
Anadarko Petroleum Corp. COM 032511107 34,715 373,316 SH   SOLE 1 325,716 0 47,600
Anheuser Busch InBev NV ADR 03524A108 26,427 266,400 SH   SOLE 1 266,400 0 0
Apache Corp. COM 037411105 13,070 153,515 SH   SOLE 1 153,515 0 0
Apartment Investment & Management Co. COM 03748R101 469,778 16,813,828 SH   SOLE 1,2 9,608,981 0 7,204,847
Apple Inc. COM 037833100 94,301 197,800 SH   SOLE 1 166,775 0 31,025
Archer-Daniels-Midland Co. COM 039483102 295 8,000 SH   SOLE 1 8,000 0 0
Ashford Hospitality Pr.E PFD 044103505 12,378 476,641 SH   SOLE 1 425,000 0 51,641
Associated Estates Realty Corp. COM 045604105 10,730 719,683 SH   SOLE 1 634,605 0 85,078
AT&T Inc. COM 00206R102 51,091 1,510,677 SH   SOLE 1 1,382,677 0 128,000
Atlas Pipeline Partners LP COM 049392103 50 1,279 SH   SOLE 1 1,279 0 0
Atmos Energy Corp. COM 049560105 17,916 420,673 SH   SOLE 1 420,673 0 0
Avago Technologies L COM Y0486S104 18,542 430,000 SH   SOLE 1 376,000 0 54,000
Avalonbay Communities Inc COM 053484101 199,132 1,566,862 SH   SOLE 1,2 237,815 0 1,329,047
AVIV Reit Inc COM 05381L101 13,145 576,529 SH   SOLE 1 576,529 0 0
Bank Of America Corp. COM 060505104 76,561 5,547,900 SH   SOLE 1 5,037,800 0 510,100
Barclays Bank 7.10% (BCS A) PFD 06739H776 206 8,243 SH   SOLE 1 8,243 0 0
Barclays Bank 7.75% (BCS C) PFD 06739H511 16,138 639,124 SH   SOLE 1 625,642 0 13,482
Barclays Bank 8.125% (BCS D) PFD 06739H362 1,645 64,676 SH   SOLE 1 54,775 0 9,901
Barclays Bank PLC 6.625% (BCS) PFD 06739F390 250 10,200 SH   SOLE 1 10,200 0 0
Barrick Gold Corp. COM 067901108 331 17,800 SH   SOLE 1 17,800 0 0
Becton Dickinson & Co. COM 075887109 2,150 21,500 SH   SOLE 1 0 0 21,500
Blackrock Build Amer Bd COM 09248X100 477 25,340 SH   SOLE 1 23,100 0 2,240
Blackrock Corporate High Yield Fund COM 09255L106 90 12,537 SH   SOLE 1 0 0 12,537
Blackrock Corporate High Yield Fund 5 COM 09255N102 84 6,906 SH   SOLE 1 0 0 6,906
Blackrock Corporate High Yield Fund 6 COM 09255P107 382 32,500 SH   SOLE 1 32,500 0 0
Blackrock Debt Strategies Fund COM 09255R103 335 83,300 SH   SOLE 1 83,300 0 0
Blackrock Global Enrg & Res COM 09250U101 1,474 57,098 SH   SOLE 1 57,098 0 0
Blackrock Health Sciences Trust COM 09250W107 1,786 54,800 SH   SOLE 1 54,800 0 0
Blackrock Inc. COM 09247X101 35,021 129,411 SH   SOLE 1 119,292 0 10,119
Blackrock Limited Duration Income Trust COM 09249W101 1,407 82,897 SH   SOLE 1 74,622 0 8,275
BlackRock Long-Term Municipal Advantage Trust COM 09250B103 757 71,379 SH   SOLE 1 71,379 0 0
Blackrock Munienhanced Fund COM 09253Y100 319 30,000 SH   SOLE 1 30,000 0 0
Blackrock Muniholdings Insur COM 09254P108 437 33,346 SH   SOLE 1 33,346 0 0
Blackrock Real Asset Equity COM 09254B109 3,680 409,755 SH   SOLE 1 409,755 0 0
Boardwalk Pipeline Partners LP COM 096627104 20,597 678,195 SH   SOLE 1 678,195 0 0
Boston Properties Inc. COM 101121101 867,876 8,118,577 SH   SOLE 1,2 4,524,982 0 3,593,595
BRE Properties Inc. COM 05564E106 321,978 6,343,140 SH   SOLE 1,2 3,641,304 0 2,701,836
Breitburn Energy Partners LP COM 106776107 14 750 SH   SOLE 1 750 0 0
BRF - Brasil Foods SA ADR ADR 10552T107 510 20,800 SH   SOLE 1 20,800 0 0
Broadcom Corp COM 111320107 31,815 1,223,200 SH   SOLE 1 1,059,200 0 164,000
Buckeye Partners LP COM 118230101 31,614 482,440 SH   SOLE 1 482,440 0 0
Calamos Convertible & High Income Fund COM 12811P108 2,057 164,127 SH   SOLE 1 150,030 0 14,097
Calumet Specialty Products Partners LP COM 131476103 2,646 96,970 SH   SOLE 1 96,970 0 0
Canadian Natl Railway COM 136375102 1,198 11,800 SH   SOLE 1 11,800 0 0
Canadian Natural Resources Ltd COM 136385101 211 6,700 SH   SOLE 1 6,700 0 0
CBRE Clarion Global Real Estate Income Fund COM 12504G100 4,128 510,212 SH   SOLE 1 510,212 0 0
CenterPoint Energy Inc. COM 15189T107 28,117 1,173,007 SH   SOLE 1 1,173,007 0 0
Central GoldTrust COM 153546106 1,219 26,400 SH   SOLE 1 26,400 0 0
CF Inds Hldgs Inc COM 125269100 358 1,700 SH   SOLE 1 1,700 0 0
Cheniere Energy Inc COM 16411R208 917 26,850 SH   SOLE 1 26,850 0 0
Cheniere Energy Partners LP COM 16411Q101 16,821 638,125 SH   SOLE 1 638,125 0 0
Chevron Corp. COM 166764100 117,792 969,483 SH   SOLE 1 853,883 0 115,600
Chubb Corp COM 171232101 32,320 362,091 SH   SOLE 1 312,191 0 49,900
Cisco Systems Inc. COM 17275R102 63,332 2,704,200 SH   SOLE 1 2,334,500 0 369,700
Citigroup Inc. COM 172967424 70,209 1,447,304 SH   SOLE 1 1,356,004 0 91,300
Clearbridge Energy Mlp COM 184692101 1,125 42,200 SH   SOLE 1 42,200 0 0
Clearbridge Energy MLP Opportunity Fd COM 18469P100 2,854 126,300 SH   SOLE 1 126,300 0 0
Clough Global Opportunities Fund COM 18914E106 3,678 285,800 SH   SOLE 1 285,800 0 0
Cohen & Steers MLP Income and Energy Opportunity F COM 19249B106 90 5,250 SH   SOLE 1 5,250 0 0
Cole Real Estate Investments COM 19329V105 637 51,982 SH   SOLE 1 51,982 0 0
Colonial Properties Trust COM 195872106 29,937 1,331,141 SH   SOLE 1,2 1,311,700 0 19,441
Comerica Inc. COM 200340107 23,924 608,600 SH   SOLE 1 608,600 0 0
Commonwealth REIT COM 203233101 890 40,632 SH   SOLE 1 40,632 0 0
Commonwealth REIT Pfd. D PFD 203233408 48,453 2,315,006 SH   SOLE 1 517,056 0 1,797,950
Commonwealth REIT Pr. E PFD 203233606 35,725 1,558,000 SH   SOLE 1 0 0 1,558,000
Consol Energy Inc COM 20854P109 185 5,500 SH   SOLE 1 5,500 0 0
Continental Resource COM 212015101 161 1,500 SH   SOLE 1 1,500 0 0
Corenergy Infrastructure Trust, Inc. COM 21870U205 8,297 1,185,257 SH   SOLE 1 1,185,257 0 0
Corning Inc. COM 219350105 39,597 2,714,003 SH   SOLE 1 2,353,003 0 361,000
Corporate Office Properties COM 22002T108 284,089 12,298,243 SH   SOLE 1,2 8,009,771 0 4,288,472
Costco Wholesale Corp. COM 22160K105 18,408 159,900 SH   SOLE 1 120,500 0 39,400
Cousins Properties Inc. COM 222795106 205,905 20,010,250 SH   SOLE 1,2 16,951,373 0 3,058,877
Covidien PLC COM G2554F113 33,737 553,615 SH   SOLE 1 465,715 0 87,900
Crosstex Energy LP COM 22765U102 6,708 337,100 SH   SOLE 1 337,100 0 0
Crown Castle International Corp. COM 228227104 127,988 1,752,546 SH   SOLE 1 1,752,546 0 0
CubeSmart COM 229663109 310,558 17,407,949 SH   SOLE 1,2 10,581,397 0 6,826,552
CVS Caremark Corp. COM 126650100 51,942 915,275 SH   SOLE 1 766,800 0 148,475
D.R. Horton Inc. COM 23331A109 66,112 3,402,571 SH   SOLE 1 2,955,971 0 446,600
DCP Midstream Partners LP COM 23311P100 2,273 45,770 SH   SOLE 1 45,770 0 0
DCT Industrial Trust Inc. COM 233153105 8,762 1,218,640 SH   SOLE 1 1,218,640 0 0
DDR Corp. COM 23317H102 523,692 33,334,916 SH   SOLE 1,2 18,067,306 0 15,267,610
Deere & Co COM 244199105 25,330 311,223 SH   SOLE 1 279,423 0 31,800
Devon Energy Corp. COM 25179M103 18,587 321,800 SH   SOLE 1 284,600 0 37,200
Diamondrock Hospitality Co. COM 252784301 246,937 23,143,154 SH   SOLE 1,2 10,299,970 0 12,843,184
Digital Realty Trust Inc. COM 253868103 180,926 3,407,271 SH   SOLE 1,2 2,141,688 0 1,265,583
DNP Select Income Fund COM 23325P104 4,224 439,507 SH   SOLE 1 439,507 0 0
Dominion Resources Inc./Va COM 25746U109 89,423 1,431,220 SH   SOLE 1 1,431,220 0 0
Douglas Emmett Inc. COM 25960P109 308,098 13,127,317 SH   SOLE 1,2 9,097,862 0 4,029,455
Dow Chemical COM 260543103 722 18,800 SH   SOLE 1 14,800 0 4,000
Duke Energy Corp. COM 26441C204 39,799 595,972 SH   SOLE 1 595,972 0 0
Duke Realty Corp. COM 264411505 470,072 30,445,089 SH   SOLE 1,2 17,032,232 0 13,412,857
Eagle Materials Inc COM 26969P108 28,519 393,100 SH   SOLE 1 344,100 0 49,000
Eastman Chemical Company COM 277432100 26,081 334,800 SH   SOLE 1 289,500 0 45,300
Eaton Vance Floating Rate Income Trust COM 278279104 2,172 139,393 SH   SOLE 1 139,393 0 0
Eaton Vance Insured Muni Bnd COM 27827X101 769 66,500 SH   SOLE 1 66,500 0 0
Eaton Vance Limited Duration Fund COM 27828H105 2,642 168,895 SH   SOLE 1 163,617 0 5,278
EATON VANCE MUNICIPAL INCOME COM 27829U105 403 27,820 SH   SOLE 1 27,820 0 0
Eaton Vance National Municipal Opportunities Trust COM 27829L105 762 40,543 SH   SOLE 1 40,543 0 0
Eaton Vance Senior Income Tr COM 27826S103 1,881 267,587 SH   SOLE 1 267,587 0 0
Eaton Vance Sr Fltg Rate Trust COM 27828Q105 717 46,449 SH   SOLE 1 43,200 0 3,249
Eaton Vance T/A Global Dividend Income COM 27828S101 8,308 532,200 SH   SOLE 1 532,200 0 0
Eaton Vance T/M Buy-Write Opportunity COM 27828Y108 16,084 1,230,592 SH   SOLE 1 1,230,592 0 0
Eaton Vance Tax Adv Global Dividend O COM 27828U106 5,597 247,992 SH   SOLE 1 247,992 0 0
Eaton Vance Tax Man Global Br COM 27829C105 5,413 477,365 SH   SOLE 1 477,365 0 0
Eaton Vance Tax-Adv Dvd. Inc. Fund COM 27828G107 18,686 1,037,562 SH   SOLE 1 1,025,724 0 11,838
Eaton Vance Tax-Managed Dividend COM 27828N102 16,813 1,667,946 SH   SOLE 1 1,653,469 0 14,477
Eaton Vance Tax-Managed Global COM 27829F108 18,090 1,928,557 SH   SOLE 1 1,928,557 0 0
Ecopetrol SA ADR ADR 279158109 101 2,200 SH   SOLE 1 2,200 0 0
Education Realty Trust Inc. COM 28140H104 47,285 5,196,129 SH   SOLE 1,2 3,593,827 0 1,602,302
El Paso Pipeline Partners LP COM 283702108 17,322 410,290 SH   SOLE 1 410,290 0 0
EMC Corp./MASS COM 268648102 32,423 1,268,500 SH   SOLE 1 1,101,300 0 167,200
Emeritus Corp COM 291005106 30,758 1,659,885 SH   SOLE 1 1,659,885 0 0
Enbridge Energy Mana COM 29250X103 36,132 1,255,448 SH   SOLE 1 1,255,448 0 0
Enbridge Energy Partners LP COM 29250R106 53 1,741 SH   SOLE 1 1,741 0 0
Enbridge Inc COM 29250N105 90,550 2,163,559 SH   SOLE 1 2,163,559 0 0
Energy Select Sector Spdr COM 81369Y506 3,067 37,009 SH   SOLE 1 37,009 0 0
Energy Transfer Equity Lp COM 29273V100 36,400 553,354 SH   SOLE 1 553,354 0 0
Energy Transfer Partners LP COM 29273R109 33,207 637,740 SH   SOLE 1 637,740 0 0
Ensco PLC COM G3157S106 2,311 43,000 SH   SOLE 1 43,000 0 0
Enterprise Products Partners COM 293792107 83,748 1,372,011 SH   SOLE 1 1,372,011 0 0
Eog Res Inc COM 26875P101 305 1,800 SH   SOLE 1 1,800 0 0
EPR Properties 9% E PFD 26884U307 9,429 319,616 SH   SOLE 1 211,000 0 108,616
EQT Midstream Partners LP COM 26885B100 31,862 647,203 SH   SOLE 1 647,203 0 0
Equity Lifestyle Properties COM 29472R108 56,893 1,664,992 SH   SOLE 1,2 1,319,771 0 345,221
Equity Residential COM 29476L107 1,222,810 22,826,387 SH   SOLE 1,2 12,674,150 0 10,152,237
Essex Property Trust Inc. COM 297178105 227,033 1,537,124 SH   SOLE 1,2 990,070 0 547,054
EV Energy Partner LP COM 26926V107 19 500 SH   SOLE 1 500 0 0
Exelon Corp. COM 30161N101 33,839 1,141,662 SH   SOLE 1 1,141,662 0 0
Exterran Partners LP COM 30225N105 5,335 183,460 SH   SOLE 1 183,460 0 0
Extra Space Storage Inc. COM 30225T102 386,770 8,453,982 SH   SOLE 1,2 4,482,412 0 3,971,570
Exxon Mobil Corp. COM 30231G102 92,775 1,078,281 SH   SOLE 1 956,347 0 121,934
Federal Realty Investment Trust COM 313747206 421,353 4,153,311 SH   SOLE 1,2 2,041,379 0 2,111,932
Financial Select Sector SPDR COM 81369Y605 1,508 75,700 SH   SOLE 1 75,700 0 0
First Industrial Realty Trust COM 32054K103 205,625 12,638,295 SH   SOLE 1,2 6,625,826 0 6,012,469
First Trust Aberdeen Global Fund COM 337319107 1,905 130,900 SH   SOLE 1 118,600 0 12,300
First Trust Energy Income and Growth Fund COM 33738G104 11,129 347,780 SH   SOLE 1 347,780 0 0
First Trust Energy Infra. COM 33738C103 1,299 60,300 SH   SOLE 1 60,300 0 0
First Trust MLP and Energy Inc COM 33739B104 6,497 331,639 SH   SOLE 1 331,639 0 0
Flah & Crum/Claymore Preferred S I COM 338478100 6,911 383,302 SH   SOLE 1 374,172 0 9,130
Flah & Crum/Claymore Total Return Fund COM 338479108 4,789 262,971 SH   SOLE 1 256,600 0 6,371
Ford Motor Co COM 345370860 51,602 3,058,800 SH   SOLE 1 2,643,100 0 415,700
Forest City Enterprises Cl A COM 345550107 202,334 10,682,890 SH   SOLE 1,2 9,134,388 0 1,548,502
Franklin Templeton Ltd Duration Inc Fund COM 35472T101 1,469 112,974 SH   SOLE 1 103,900 0 9,074
Freeport-Mcmoran Copper COM 35671D857 202 6,100 SH   SOLE 1 6,100 0 0
Gabelli Dividend & Income Trust COM 36242H104 19,156 963,578 SH   SOLE 1 955,053 0 8,525
Gabelli Equity Trust COM 362397101 4,335 645,153 SH   SOLE 1 645,153 0 0
GasLog Ltd. COM G37585109 1 85 SH   SOLE 1 85 0 0
General Dynamics Corp. COM 369550108 36,060 412,019 SH   SOLE 1 409,519 0 2,500
General Electric Co. COM 369604103 59,255 2,480,330 SH   SOLE 1 2,089,330 0 391,000
General Growth Properties COM 370023103 842,590 43,680,160 SH   SOLE 1,2 26,435,988 0 17,244,172
Genesis Energy LP COM 371927104 68 1,350 SH   SOLE 1 1,350 0 0
Gerdau SA ADR ADR 373737105 187 25,100 SH   SOLE 1 25,100 0 0
Glimcher Realty Trust COM 379302102 210,702 21,610,466 SH   SOLE 1,2 18,804,669 0 2,805,797
Golar LNG Partners LP COM Y2745C102 32,937 1,013,442 SH   SOLE 1 1,013,442 0 0
Goldcorp Inc COM 380956409 271 10,423 SH   SOLE 1 10,423 0 0
Goldman Sachs Group Inc. COM 38141G104 31,927 201,800 SH   SOLE 1 186,300 0 15,500
Google Inc. Cl A COM 38259P508 7,007 8,000 SH   SOLE 1 3,100 0 4,900
Grupo Aeroportuario PAC - ADR ADR 400506101 6,704 131,066 SH   SOLE 1 131,066 0 0
Guggenheim Strategic Opp Fund COM 40167F101 6,493 295,127 SH   SOLE 1 295,127 0 0
Hanesbrands Inc COM 410345102 41,330 663,300 SH   SOLE 1 589,200 0 74,100
Hartford Financial Svcs Grp COM 416515104 249 8,000 SH   SOLE 1 0 0 8,000
HCC Insurance Holdings Inc. COM 404132102 4,930 112,500 SH   SOLE 1 112,500 0 0
HCP Inc COM 40414L109 424,477 10,365,734 SH   SOLE 1,2 3,692,770 0 6,672,964
Health Care REIT Inc. COM 42217K106 903,393 14,482,090 SH   SOLE 1,2 9,841,686 0 4,640,404
Healthcare Trust of America COM 42225P105 199,018 18,918,014 SH   SOLE 1,2 8,580,381 0 10,337,633
Helmerich & Payne In COM 423452101 16,486 239,102 SH   SOLE 1 207,292 0 31,810
Hersha Hospitality Trust COM 427825104 135,163 24,179,465 SH   SOLE 1,2 20,084,136 0 4,095,329
Hewlett-Packard Co. COM 428236103 14,489 690,600 SH   SOLE 1 594,500 0 96,100
Highwoods Properties Inc. COM 431284108 69,905 1,979,754 SH   SOLE 1 898,054 0 1,081,700
Home Depot Inc. COM 437076102 4,392 57,900 SH   SOLE 1 0 0 57,900
Home Properties Inc. COM 437306103 460,450 7,973,156 SH   SOLE 1,2 4,248,331 0 3,724,825
Honda Motor Co Ltd - Spons ADR ADR 438128308 412 10,800 SH   SOLE 1 10,800 0 0
Host Hotels & Resorts Inc. COM 44107P104 651,257 36,856,628 SH   SOLE 1,2 15,312,696 0 21,543,932
HSBC Holdings PLC 6.20% (HBC A) PFD 404280604 377 15,285 SH   SOLE 1 12,900 0 2,385
Hudson Pacific Prop COM 444097109 111,182 5,716,282 SH   SOLE 1,2 5,291,728 0 424,554
Huntington Bancshare COM 446150104 30,688 3,715,300 SH   SOLE 1 3,198,900 0 516,400
Huntington Bancshares 8.5% CV (HBANP) PFD 446150401 51,776 41,755 SH   SOLE 1 41,755 0 0
Hyatt Hotels Corp CL A COM 448579102 125,901 2,930,657 SH   SOLE 1,2 2,585,164 0 345,493
I Shares Gold Trust COM 464285105 1,676 130,000 SH   SOLE 1 130,000 0 0
Inergy LP COM 456615103 1,627 118,125 SH   SOLE 1 118,125 0 0
Ingredion Inc COM 457187102 357 5,400 SH   SOLE 1 5,400 0 0
Intel Corp. COM 458140100 38,550 1,681,940 SH   SOLE 1 1,345,529 0 336,411
International Business Machines Corp. COM 459200101 7,500 40,500 SH   SOLE 1 9,600 0 30,900
John Hancock Preferred Income Fund COM 41013W108 104 5,383 SH   SOLE 1 0 0 5,383
John Hancock T/A Dividend Income Fund COM 41013V100 12,937 743,527 SH   SOLE 1 733,462 0 10,065
Johnson & Johnson COM 478160104 165 1,900 SH   SOLE 1 0 0 1,900
JP Morgan Chase & Co COM 46625H100 85,066 1,645,694 SH   SOLE 1 1,515,394 0 130,300
Kayne Anderson Energy Total Return COM 48660P104 7,168 239,483 SH   SOLE 1 239,483 0 0
Kayne Anderson MidstreamEnergy COM 48661E108 4,186 130,490 SH   SOLE 1 130,490 0 0
Kayne Anderson MLP Investment COM 486606106 1,983 55,300 SH   SOLE 1 55,300 0 0
Keycorp 7.75% CV (KEY G) PFD 493267405 1,673 13,393 SH   SOLE 1 13,393 0 0
Kilroy Realty Corp. COM 49427F108 163,253 3,268,336 SH   SOLE 1,2 0 0 3,268,336
Kimco Realty Corp. COM 49446R109 219,657 10,884,880 SH   SOLE 1,2 4,338,902 0 6,545,978
Kinder Morgan Holdco LLC COM 49456B101 13,489 379,213 SH   SOLE 1 379,213 0 0
Kinder Morgan Manage COM 49455U100 42,510 567,096 SH   SOLE 1 567,096 0 0
Knot Offshore Partners LP COM Y48125101 4,098 170,380 SH   SOLE 1 170,380 0 0
L-3 Communications Holdings COM 502424104 2,892 30,600 SH   SOLE 1 5,700 0 24,900
Lasalle Hotel Properties COM 517942108 82,468 2,891,580 SH   SOLE 1 0 0 2,891,580
Legg Mason BW Global Income COM 52469B100 5,567 332,728 SH   SOLE 1 320,901 0 11,827
Lexington Corp Pr C CV PFD 529043309 10,305 224,749 SH   SOLE 1 207,936 0 16,813
Liberty Property Trust COM 531172104 66,224 1,860,216 SH   SOLE 1 0 0 1,860,216
LMP Capital And Income Fund COM 50208A102 3,398 228,500 SH   SOLE 1 228,500 0 0
LMP Real Estate Income Fund COM 50208C108 1,302 123,665 SH   SOLE 1 123,665 0 0
Mack-Cali Realty Corp. COM 554489104 251,830 11,478,122 SH   SOLE 1,2 5,960,209 0 5,517,913
Macquarie Global Infr Tot Rt COM 55608D101 1,377 63,636 SH   SOLE 1 63,636 0 0
Magellan Midstream Partners COM 559080106 7,509 133,072 SH   SOLE 1 133,072 0 0
Marathon Petroleum Corp. COM 56585A102 22,705 353,000 SH   SOLE 1 304,600 0 48,400
Market Vectors Oil Service ETF COM 57060U191 4,690 99,620 SH   SOLE 1 99,620 0 0
MarkWest Energy Partners LP COM 570759100 104,257 1,443,397 SH   SOLE 1 1,443,397 0 0
Martin Midstream Partners LP COM 573331105 1,678 35,750 SH   SOLE 1 35,750 0 0
McDonald's Corp. COM 580135101 259 2,697 SH   SOLE 1 0 0 2,697
Merck & Co Inc COM 58933Y105 16,502 346,600 SH   SOLE 1 296,900 0 49,700
MFS Multimarket Income Trust COM 552737108 1,270 192,144 SH   SOLE 1 174,356 0 17,788
Microsoft Corp. COM 594918104 6,962 209,000 SH   SOLE 1 64,000 0 145,000
Mid-America Apartment Communities COM 59522J103 12,823 205,172 SH   SOLE 1 205,172 0 0
Monsanto Co COM 61166W101 7,703 73,800 SH   SOLE 1 34,200 0 39,600
Mosaic Company COM 61945C103 675 15,700 SH   SOLE 1 15,700 0 0
MPLX LP COM 55336V100 28,784 789,910 SH   SOLE 1 789,910 0 0
National Oilwell Varco Inc COM 637071101 22,730 291,000 SH   SOLE 1 252,600 0 38,400
National Retail Properties COM 637417106 212,306 6,672,089 SH   SOLE 1,2 4,188,395 0 2,483,694
NATL WESTMINSTER 7.76% (NW C) PFD 638539882 28,497 1,137,141 SH   SOLE 1 1,131,543 0 5,598
Natural Resource Partners LP COM 63900P103 16 820 SH   SOLE 1 820 0 0
NetApp Inc. COM 64110D104 57,477 1,348,600 SH   SOLE 1 1,171,200 0 177,400
New America High Income Fund COM 641876800 5,882 618,476 SH   SOLE 1 604,078 0 14,398
Newmont Mining Corp COM 651639106 430 15,300 SH   SOLE 1 12,400 0 2,900
NextEra Energy Inc COM 65339F101 132,463 1,652,483 SH   SOLE 1 1,600,621 0 51,862
NFJ Dividend Interest & Preferred Strategy COM 01883A107 2,206 131,000 SH   SOLE 1 131,000 0 0
NGL Energy Partners LP COM 62913M107 21,224 688,193 SH   SOLE 1 688,193 0 0
Niska Gas Storage Partners LLC COM 654678101 2,021 130,800 SH   SOLE 1 130,800 0 0
Nordstrom Inc. COM 655664100 20,193 359,300 SH   SOLE 1 281,500 0 77,800
Norfolk Southern Corp. COM 655844108 186 2,400 SH   SOLE 1 0 0 2,400
NRG Yield Inc. COM 62942X108 7,443 245,736 SH   SOLE 1 245,736 0 0
Nucor Corp COM 670346105 108 2,200 SH   SOLE 1 2,200 0 0
NuStar Energy LP COM 67058H102 9,426 235,008 SH   SOLE 1 235,008 0 0
NuStar GP Holdings LLC COM 67059L102 3,628 161,658 SH   SOLE 1 161,658 0 0
Nuveen Diversified Currency Opportunities Fund COM 67090N109 1,984 189,280 SH   SOLE 1 189,280 0 0
Nuveen Dividend Advantage Municipal Fund 2 COM 67070F100 1,433 110,463 SH   SOLE 1 110,463 0 0
Nuveen Energy MLP Total Return COM 67074U103 5,271 281,723 SH   SOLE 1 281,723 0 0
Nuveen Equity Premium Opportunity Fund COM 6706EM102 1,499 124,300 SH   SOLE 1 124,300 0 0
Nuveen Floating rate Income COM 67072T108 2,945 246,200 SH   SOLE 1 246,200 0 0
Nuveen Floating Rate Income Opportunity Fund COM 6706EN100 1,259 101,804 SH   SOLE 1 93,900 0 7,904
Nuveen Mtg Opportunity COM 670735109 666 28,017 SH   SOLE 1 24,900 0 3,117
Nuveen Mtg Oppty Term F COM 67074R100 892 37,134 SH   SOLE 1 34,500 0 2,634
Nuveen Multi-Strategy Income & Growth 2 COM 67073D102 6,441 688,878 SH   SOLE 1 670,089 0 18,789
Nuveen Muni Advantage Fund COM 67062H106 749 59,857 SH   SOLE 1 59,857 0 0
Nuveen Preferred & Income Term Fund COM 67075A106 6,799 299,762 SH   SOLE 1 289,616 0 10,146
Nuveen Preferred Income Opportunities Fund COM 67073B106 13,988 1,611,573 SH   SOLE 1 1,585,764 0 25,809
Nuveen Premier Muni Inc Fd COM 670988104 636 49,275 SH   SOLE 1 49,275 0 0
Nuveen Premium Inc Muni Fd 2 COM 67063W102 738 56,551 SH   SOLE 1 56,551 0 0
Nuveen Real Estate Income Fund COM 67071B108 4,609 436,501 SH   SOLE 1 436,501 0 0
Nuveen Short Duration Credit COM 67074X107 4,373 228,828 SH   SOLE 1 222,205 0 6,623
Nuveen Tax-Adv Tot Ret Strat COM 67090H102 2,753 221,837 SH   SOLE 1 221,837 0 0
Nuveen Tax-Advantaged Dividend Growth Fund COM 67073G105 1,432 97,936 SH   SOLE 1 97,936 0 0
Occidental Petroleum Corp. COM 674599105 65,073 695,667 SH   SOLE 1 618,667 0 77,000
Oiltanking Partners LP COM 678049107 14,400 280,924 SH   SOLE 1 280,924 0 0
ONEOK Partners LP COM 68268N103 95 1,795 SH   SOLE 1 1,795 0 0
Orient Express Hotels Ltd. A COM G67743107 121,901 9,391,412 SH   SOLE 1,2 8,447,768 0 943,644
Owens Corning COM 690742101 52,420 1,380,200 SH   SOLE 1 1,205,000 0 175,200
P G & E Corp. COM 69331C108 52,740 1,288,867 SH   SOLE 1 1,288,867 0 0
Parkway Properties Inc. COM 70159Q104 15,939 896,984 SH   SOLE 1 896,984 0 0
Pebblebrook Hotel Trust COM 70509V100 103,603 3,608,598 SH   SOLE 1 1,116,649 0 2,491,949
Pembina Pipeline Corp COM 706327103 15,325 461,400 SH   SOLE 1 461,400 0 0
Pentair Ltd COM H6169Q108 33,074 509,300 SH   SOLE 1 456,800 0 52,500
Pepsico Inc. COM 713448108 771 9,700 SH   SOLE 1 6,500 0 3,200
Petsmart Inc COM 716768106 19,988 262,100 SH   SOLE 1 216,100 0 46,000
Pfizer Inc. COM 717081103 48,516 1,689,867 SH   SOLE 1 1,516,684 0 173,183
Philip Morris International COM 718172109 4,074 47,047 SH   SOLE 1 8,800 0 38,247
PIMCO Corporate Opportunity COM 72201B101 6,949 385,010 SH   SOLE 1 375,265 0 9,745
Pimco Dynamic Credit Income COM 72202D106 9,570 430,123 SH   SOLE 1 421,179 0 8,944
Pimco Dynamic Income Fund COM 72201Y101 11,824 412,118 SH   SOLE 1 403,794 0 8,324
PIMCO High Income Fund COM 722014107 8,282 693,669 SH   SOLE 1 679,382 0 14,287
PIMCO Income Opportunity Fund COM 72202B100 15,786 574,250 SH   SOLE 1 565,738 0 8,512
PIMCO Income Strategy Fund II COM 72201J104 9,072 889,404 SH   SOLE 1 870,707 0 18,697
Pimco Municipal Income Fund II COM 72200W106 3,204 290,523 SH   SOLE 1 290,523 0 0
Pioneer Diversified High Income COM 723653101 6,251 297,371 SH   SOLE 1 292,761 0 4,610
Pioneer Floating Rate Trust COM 72369J102 2,566 204,493 SH   SOLE 1 194,180 0 10,313
Pioneer High Income Trust COM 72369H106 805 47,487 SH   SOLE 1 47,487 0 0
Plains All American Pipeline LP COM 726503105 7,572 143,790 SH   SOLE 1 143,790 0 0
Plum Creek Timber Co. COM 729251108 1,611 34,404 SH   SOLE 1 34,404 0 0
Potash Corp of Saskatchewan COM 73755L107 6,389 203,900 SH   SOLE 1 90,300 0 113,600
Potash Corp of Saskatchewan - US COM 73755L107 29,056 928,900 SH   SOLE 1 928,900 0 0
PPL Corp. COM 69351T106 25,533 840,443 SH   SOLE 1 840,443 0 0
Proassurance Corp COM 74267C106 15,325 340,100 SH   SOLE 1 296,300 0 43,800
Procter & Gamble Co. COM 742718109 16,658 220,376 SH   SOLE 1 190,776 0 29,600
ProLogis Inc. COM 74340W103 1,405,989 37,373,435 SH   SOLE 1,2 20,887,091 0 16,486,344
Prudential Finl Inc COM 744320102 57,097 732,200 SH   SOLE 1 657,000 0 75,200
PS Business Parks Inc. COM 69360J107 110,512 1,481,002 SH   SOLE 1,2 1,294,752 0 186,250
Public Storage COM 74460D109 972,919 6,059,914 SH   SOLE 1,2 2,932,519 0 3,127,395
Putnam Premier Income Trust COM 746853100 1,828 347,600 SH   SOLE 1 347,600 0 0
PVR Partners LP COM 693665101 16,998 735,205 SH   SOLE 1 735,205 0 0
QEP Midstream Partners LP COM 74735R115 12,365 546,140 SH   SOLE 1 546,140 0 0
Qualcomm Inc. COM 747525103 3,900 57,900 SH   SOLE 1 22,900 0 35,000
Quest Diagnostics COM 74834L100 34,564 559,376 SH   SOLE 1 484,205 0 75,171
Ramco-Gershenson Properties COM 751452202 127,284 8,259,827 SH   SOLE 1,2 6,806,112 0 1,453,715
Realty Income Corp. COM 756109104 124,173 3,123,861 SH   SOLE 1 711,732 0 2,412,129
Reaves Utility Income Fund COM 756158101 2,467 98,391 SH   SOLE 1 98,391 0 0
Regency Centers Corp. COM 758849103 519,941 10,753,683 SH   SOLE 1,2 5,677,186 0 5,076,497
Regency Energy Partners Lp COM 75885Y107 8,349 291,930 SH   SOLE 1 291,930 0 0
Republic Services Inc. COM 760759100 183 5,500 SH   SOLE 1 0 0 5,500
Retail Properties of America COM 76131V202 180,657 13,138,660 SH   SOLE 1,2 7,103,697 0 6,034,963
Rexford Industrial Realty Inc COM 76169C100 17,233 1,275,546 SH   SOLE 1 1,007,855 0 267,691
RLJ Lodging Trust COM 74965L101 107,484 4,575,742 SH   SOLE 1 0 0 4,575,742
Rogers Communications Inc COM 775109200 5,020 116,500 SH   SOLE 1 49,400 0 67,100
Rose Rock Midstream LP COM 777149105 12,809 400,904 SH   SOLE 1 400,904 0 0
Ross Stores Inc COM 778296103 38,402 527,500 SH   SOLE 1 461,000 0 66,500
Royal Bank of Scotland 6.6% (RBS S) PFD 780097739 5,862 273,533 SH   SOLE 1 271,255 0 2,278
Royal Bank of Scotland Pr.H PFD 780097879 3,726 151,644 SH   SOLE 1 149,006 0 2,638
Royce Value Trust COM 780910105 5,953 369,548 SH   SOLE 1 369,548 0 0
Sasol Ltd ADR ADR 803866300 105 2,200 SH   SOLE 1 2,200 0 0
SBA Communications Corp. Cl A COM 78388J106 78,579 976,625 SH   SOLE 1 976,625 0 0
Schlumberger Ltd. COM 806857108 59,813 676,923 SH   SOLE 1 635,098 0 41,825
Seadrill Partners LLC COM Y7545W109 4,223 129,350 SH   SOLE 1 129,350 0 0
Semgroup Corp COM 81663A105 28,345 497,112 SH   SOLE 1 497,112 0 0
Sempra Energy COM 816851109 66,167 772,981 SH   SOLE 1 772,981 0 0
Senior Housing Properties Trust COM 81721M109 107,500 4,605,821 SH   SOLE 1 0 0 4,605,821
Silver Wheaton Corp COM 828336107 94 3,800 SH   SOLE 1 3,800 0 0
Simon Property Group Inc. COM 828806109 2,857,815 19,279,597 SH   SOLE 1,2 10,567,757 0 8,711,840
SL Green Realty Corp. COM 78440X101 867,501 9,764,753 SH   SOLE 1,2 5,749,176 0 4,015,577
Southcross Energy Partners L COM 84130C100 7,673 456,739 SH   SOLE 1 456,739 0 0
Sovran Self Storage Inc. COM 84610H108 250,581 3,311,060 SH   SOLE 1,2 2,774,515 0 536,545
SPDR Trust Series 1 COM 78462F103 2,135 12,700 SH   SOLE 1 12,700 0 0
Spectra Energy Corp. COM 847560109 27,120 792,279 SH   SOLE 1 792,279 0 0
Spectra Energy Partners LP COM 84756N109 8,573 195,370 SH   SOLE 1 195,370 0 0
Sprott Physical Gold Tr COM 85207H104 1,073 97,500 SH   SOLE 1 97,500 0 0
Spx Corp COM 784635104 28,547 337,271 SH   SOLE 1 296,231 0 41,040
STAG Industrial COM 85254J102 3,514 174,666 SH   SOLE 1 174,666 0 0
Starbucks Corp COM 855244109 6,958 90,400 SH   SOLE 1 16,000 0 74,400
Stone Harbor Emerging Market COM 86164T107 1,719 87,563 SH   SOLE 1 80,700 0 6,863
Strategic Hotels & Resorts I COM 86272T106 186,434 21,478,516 SH   SOLE 1,2 19,246,276 0 2,232,240
Suburban Propane Partners LP COM 864482104 15,190 324,569 SH   SOLE 1 324,569 0 0
Sun Communities Inc. COM 866674104 40,835 958,116 SH   SOLE 1,2 914,760 0 43,356
Suncor Energy Inc COM 867224107 211 5,900 SH   SOLE 1 0 0 5,900
Sunoco Logistics Partners LP COM 86764L108 77 1,155 SH   SOLE 1 1,155 0 0
Sunstone Hotel Investors Inc. COM 867892101 131,034 10,285,230 SH   SOLE 1,2 8,248,046 0 2,037,184
Sunstone Hotel Pr. D PFD 867892507 16,736 664,795 SH   SOLE 1,2 469,870 0 194,925
Symantec Corp COM 871503108 43,006 1,737,600 SH   SOLE 1 1,536,200 0 201,400
Syngenta AG -ADR ADR 87160A100 626 7,700 SH   SOLE 1 7,700 0 0
Tallgrass Energy Partners LP COM 874697105 13,637 585,270 SH   SOLE 1 585,270 0 0
Tanger Factory Outlet Center COM 875465106 61,608 1,886,936 SH   SOLE 1,2 1,596,280 0 290,656
Targa Resources Partners Lp COM 87611X105 8,421 163,611 SH   SOLE 1 163,611 0 0
Taubman Centers 6.25% (TCO K) PFD 876664707 8,609 385,000 SH   SOLE 1 280,000 0 105,000
TC Pipelines LP COM 87233Q108 33 675 SH   SOLE 1 675 0 0
TE Connectivity LTD COM H84989104 33,129 639,800 SH   SOLE 1 575,200 0 64,600
Teekay Corp. COM Y8564W103 17,193 402,183 SH   SOLE 1 402,183 0 0
Templeton Global Income Fund COM 880198106 1,601 191,498 SH   SOLE 1 186,578 0 4,920
The Macerich Co. COM 554382101 174,067 3,084,100 SH   SOLE 1 312,214 0 2,771,886
Thermo Fisher Scientific Inc. COM 883556102 57,994 629,342 SH   SOLE 1 552,151 0 77,191
Time Warner Cable In COM 88732J207 89 800 SH   SOLE 1 0 0 800
Toll Brothers Inc COM 889478103 62,342 1,922,369 SH   SOLE 1,2 1,743,282 0 179,087
Toronto-Dominion Bank COM 891160509 1,233 13,700 SH   SOLE 1 13,700 0 0
Tri Pointe Homes LLC COM 87265H109 13,362 910,222 SH   SOLE 1 910,222 0 0
Tyson Foods Inc COM 902494103 45,568 1,611,300 SH   SOLE 1 1,383,400 0 227,900
UCP Inc - CL A COM 90265Y106 13,460 906,999 SH   SOLE 1 906,999 0 0
UDR Inc. COM 902653104 772,841 32,609,341 SH   SOLE 1,2 19,886,988 0 12,722,353
UMH Properties 8.25% (UMH.PRA) PFD 903002202 4,114 160,000 SH   SOLE 1 50,000 0 110,000
United Parcel Service Cl B COM 911312106 38,326 419,460 SH   SOLE 1 344,860 0 74,600
United Technologies Corp. COM 913017109 8,084 74,973 SH   SOLE 1 21,573 0 53,400
Unitedhealth Group Inc. COM 91324P102 72,641 1,014,400 SH   SOLE 1 877,100 0 137,300
Universal Health Services COM 913903100 52,778 703,800 SH   SOLE 1 604,800 0 99,000
US Bancorp COM 902973304 31,034 848,400 SH   SOLE 1 755,100 0 93,300
USA Compression Partners LP COM 90290N109 16,874 708,410 SH   SOLE 1 708,410 0 0
Vale S.A. ADR ADR 91912E105 195 12,500 SH   SOLE 1 12,500 0 0
Ventas Inc. COM 92276F100 1,231,227 20,019,947 SH   SOLE 1,2 11,663,912 0 8,356,035
Verizon Communications Inc. COM 92343V104 11,959 256,300 SH   SOLE 1 256,300 0 0
Visa Inc.-Class A Shares COM 92826C839 22,846 119,550 SH   SOLE 1 95,050 0 24,500
Vornado Realty Trust COM 929042109 1,384,843 16,474,458 SH   SOLE 1,2 9,087,607 0 7,386,851
Wal-Mart Stores Inc. COM 931142103 8,994 121,600 SH   SOLE 1 35,500 0 86,100
Walt Disney Co. COM 254687106 80,729 1,251,800 SH   SOLE 1 1,107,600 0 144,200
Weingarten Realty Investors COM 948741103 382,530 13,042,294 SH   SOLE 1,2 7,229,518 0 5,812,776
Wells Fargo & Co. COM 949746101 89,110 2,156,579 SH   SOLE 1 1,948,453 0 208,126
Wells Fargo Advantage Income Opportunities Fund COM 94987B105 2,288 254,272 SH   SOLE 1 234,498 0 19,774
Wells Fargo Advantage Multi-sector COM 94987D101 3,309 234,016 SH   SOLE 1 222,000 0 12,016
Wells Fargo Co 7.5% (WFC L) PFD 949746804 4,721 4,150 SH   SOLE 1 4,150 0 0
Westar Energy Inc. COM 95709T100 80 2,600 SH   SOLE 1 0 0 2,600
Western Asset Global Cp COM 95790C107 1,409 79,186 SH   SOLE 1 71,806 0 7,380
Western Asset Global High In COM 95766B109 3,237 262,134 SH   SOLE 1 252,200 0 9,934
Western Asset High Income Fund II COM 95766J102 405 42,938 SH   SOLE 1 42,938 0 0
Western Asset High Yield Defined Opportunity COM 95768B107 4,692 262,722 SH   SOLE 1 252,800 0 9,922
Western Asset Premier Bond COM 957664105 829 58,561 SH   SOLE 1 58,561 0 0
Western Gas Partners LP COM 958254104 51 845 SH   SOLE 1 845 0 0
Weyerhaeuser Co COM 962166104 25,668 896,531 SH   SOLE 1 896,531 0 0
Williams Cos Inc. COM 969457100 46,043 1,266,315 SH   SOLE 1 1,266,315 0 0
Williams Partners LP COM 96950F104 27,508 520,195 SH   SOLE 1 520,195 0 0
Wisconsin Energy Corp. COM 976657106 12,033 297,993 SH   SOLE 1 297,993 0 0
WP Carey Inc COM 92936U109 97,254 1,503,152 SH   SOLE 1,2 1,490,434 0 12,718
WW Grainger Inc COM 384802104 4,737 18,100 SH   SOLE 1 4,400 0 13,700