No. of Recommendations: 0
REITS are pretty well priced right now. One that might improve that I own is United Dominion Real Estate (UDR). They have been upgrading their properties. As a result their earnings are down (so PE is something like 44). They say this restructuring is pretty much over so earnings may recover (but no guarantees). They are paying near a 10% dividend which they have raised for more than 20 years consecutively. They are an apartment REIT (people have to live somewhere), mainly located in the SE U.S. but with substantial holdings in Texas. They have been diversifying into other areas (like colorado) and I'm a bit concerned they are getting too spread out. But you might look into them.

I like BRE and WRE better, but they have had a lot of appreciation this year. I buy BRE when it is below $25/sh (currently over $30/sh) and WRE below $15/sh (currently over $20/sh).

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