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
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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
Alexandria Real Estate Equitie COM 015271109 354,001 2,814,219 SH   SOLE   1,690,471 0 1,123,748
American Campus Communities COM 024835100 68,415 1,662,169 SH   SOLE   905,053 0 757,116
American Electric Power Co. In COM 025537101 5,787 81,648 SH   SOLE   34,648 0 47,000
American Tower Corp. COM 03027X100 3,151 21,685 SH   SOLE   9,085 0 12,600
American Water Works Co. COM 030420103 1,004 11,408 SH   SOLE   4,908 0 6,500
Andeavor Logistics LP COM 03350F106 2,261 46,557 SH   SOLE   46,557 0 0
Antero Midstream GP LP COM 03675Y103 4,967 293,561 SH   SOLE   228,361 0 65,200
Antero Midstream Partners LP COM 03673L103 2,377 82,949 SH   SOLE   82,949 0 0
Atmos Energy Corp. COM 049560105 3,451 36,746 SH   SOLE   15,646 0 21,100
AvalonBay Communities Inc. COM 053484101 218,616 1,206,822 SH   SOLE   641,223 0 565,599
Brixmor Property Group COM 11120U105 210,033 11,995,029 SH   SOLE   6,638,916 0 5,356,113
Buckeye Partners L.P. COM 118230101 2,434 68,147 SH   SOLE   68,147 0 0
Camden Property Trust COM 133131102 2,919 31,200 SH   SOLE   0 0 31,200
Cheniere Energy Inc. COM 16411R208 6,760 97,279 SH   SOLE   59,742 0 37,537
Cheniere Energy Partners, L.P. COM 16411Q101 1,436 36,400 SH   SOLE   36,400 0 0
CMS Energy Corporation COM 125896100 2,242 45,760 SH   SOLE   21,576 0 24,184
Columbia Property Trust, Inc. COM 198287203 133,376 5,641,966 SH   SOLE   3,504,467 0 2,137,499
Cousins Properties Inc. COM 222795106 72,523 8,157,840 SH   SOLE   5,914,434 0 2,243,406
Crestwood Equity Partners LP COM 226344208 2,923 79,538 SH   SOLE   79,538 0 0
Crown Castle International Cor COM 22822V101 12,811 115,071 SH   SOLE   21,543 0 93,528
CubeSmart COM 229663109 214,932 7,533,534 SH   SOLE   4,432,356 0 3,101,178
Cushman & Wakefield PLC COM G2717B108 1,119 65,845 SH   SOLE   4,000 0 61,845
CYRUSONE INC COM 23283R100 188,167 2,967,938 SH   SOLE   1,935,674 0 1,032,264
DCP Midstream LP COM 23311P100 2,567 64,850 SH   SOLE   64,850 0 0
Diamondrock Hospitality COM 252784301 94,051 8,059,196 SH   SOLE   4,826,728 0 3,232,468
Digital Realty Trust Inc. COM 253868103 7,003 62,264 SH   SOLE   0 0 62,264
Dominion Energy Inc. COM 25746U109 5,750 81,820 SH   SOLE   37,320 0 44,500
Douglas Emmett Inc. COM 25960P109 217,111 5,755,869 SH   SOLE   3,679,802 0 2,076,067
Duke Realty Corporation COM 264411505 105,277 3,710,859 SH   SOLE   2,037,383 0 1,673,476
Enable Midstream Partners LP COM 292480100 1,650 98,000 SH   SOLE   98,000 0 0
Energy Transfer Partners LP COM 29278N103 6,514 292,640 SH   SOLE   292,640 0 0
Enterprise Products Partners L COM 293792107 6,761 235,327 SH   SOLE   235,327 0 0
EPR Properties COM 26884U109 2,786 40,725 SH   SOLE   2,100 0 38,625
EQM Midstream Partners, L.P. COM 26885B100 3,005 56,942 SH   SOLE   56,942 0 0
Equinix Inc COM 29444U700 403,024 931,009 SH   SOLE   566,323 0 364,686
Equity Residential COM 29476L107 365,194 5,511,524 SH   SOLE   3,544,173 0 1,967,351
Essex Property Trust Inc. COM 297178105 147,055 596,063 SH   SOLE   355,885 0 240,178
Evergy Inc. COM 30034W106 2,823 51,406 SH   SOLE   22,535 0 28,871
Exelon Corp. COM 30161N101 2,514 57,575 SH   SOLE   25,675 0 31,900
Extra Space Storage Inc. COM 30225T102 322,014 3,716,691 SH   SOLE   2,283,167 0 1,433,524
Federal Realty Investment Trus COM 313747206 4,262 33,700 SH   SOLE   0 0 33,700
FirstEnergy Corp. COM 337932107 2,752 74,050 SH   SOLE   33,450 0 40,600
Healthcare Trust of America In COM 42225P501 224,741 8,426,742 SH   SOLE   5,027,452 0 3,399,290
Hess Midstream Partners LP COM 428104103 1,578 69,187 SH   SOLE   69,187 0 0
Hilton Worldwide Holdings Inc. COM 43300A203 205,042 2,538,279 SH   SOLE   1,777,799 0 760,480
Host Hotels & Resorts Inc. COM 44107P104 3,232 153,183 SH   SOLE   37,678 0 115,505
Hudson Pacific Properties COM 444097109 177,821 5,434,618 SH   SOLE   3,099,025 0 2,335,593
Invitation Homes Inc COM 46187W107 205,346 8,963,156 SH   SOLE   5,649,312 0 3,313,844
JBG SMITH Properties COM 46590V100 62,402 1,694,334 SH   SOLE   958,851 0 735,483
Kansas City Southern COM 485170302 2,157 19,041 SH   SOLE   8,941 0 10,100
Kinder Morgan Inc. COM 49456B101 191 10,765 SH   SOLE   10,765 0 0
Kite Realty Group Trust COM 49803T300 1,365 82,000 SH   SOLE   11,000 0 71,000
Liberty Property Trust COM 531172104 1,880 44,498 SH   SOLE   0 0 44,498
Macerich Co. COM 554382101 156,999 2,839,547 SH   SOLE   1,802,015 0 1,037,532
Magellan Midstream Partners L. COM 559080106 4,461 65,874 SH   SOLE   65,874 0 0
MGM Growth Properties LLC COM 55303A105 80,985 2,746,193 SH   SOLE   1,750,695 0 995,498
Mid-America Apt. Comm. COM 59522J103 141,560 1,413,054 SH   SOLE   773,904 0 639,150
MPLX LP COM 55336V100 3,284 94,704 SH   SOLE   94,704 0 0
Nextera Energy Inc COM 65339F101 4,056 24,200 SH   SOLE   10,330 0 13,870
Noble Midstream Partners LP COM 65506L105 1,342 37,890 SH   SOLE   37,890 0 0
Park Hotels & Resorts Inc COM 700517105 36,615 1,115,628 SH   SOLE   480,744 0 634,884
Pattern Energy Group Inc. -A COM 70338P100 2,219 111,676 SH   SOLE   51,576 0 60,100
Phillips 66 Partners LP COM 718549207 776 15,171 SH   SOLE   15,171 0 0
Piedmont Office Realty Trust I COM 720190206 96,666 5,106,481 SH   SOLE   3,084,919 0 2,021,562
Plains All American Pipeline, COM 726503105 4,262 170,400 SH   SOLE   170,400 0 0
ProLogis Inc. COM 74340W103 474,541 7,000,163 SH   SOLE   4,101,050 0 2,899,113
QTS Realty Trust Inc COM 74736A103 24,642 577,501 SH   SOLE   236,180 0 341,321
Regency Centers Corporation COM 758849103 253,217 3,915,530 SH   SOLE   2,331,827 0 1,583,703
RLJ Lodging Trust COM 74965L101 27,639 1,254,619 SH   SOLE   719,716 0 534,903
Ryman Hospitality Properties COM 78377T107 20,063 232,827 SH   SOLE   128,310 0 104,517
Sempra Energy COM 816851109 3,756 33,020 SH   SOLE   14,820 0 18,200
Senior Housing Properties Trus COM 81721M109 34,719 1,977,161 SH   SOLE   829,936 0 1,147,225
Shell Midstream Partners LP COM 822634101 2,741 128,200 SH   SOLE   128,200 0 0
Simon Property Group Inc. COM 828806109 542,269 3,068,002 SH   SOLE   1,813,393 0 1,254,609
Southwest Gas Holdings Inc. COM 844895102 1,105 13,981 SH   SOLE   5,981 0 8,000
Spirit Realty Capital Inc. COM 84860W102 4,356 540,400 SH   SOLE   0 0 540,400
STORE Capital Corp COM 862121100 145,052 5,219,588 SH   SOLE   2,793,694 0 2,425,894
Summit Hotel Properties, Inc. COM 866082100 183 13,500 SH   SOLE   13,500 0 0
Summit Midstream Partners LP COM 866142102 1,767 123,600 SH   SOLE   123,600 0 0
Sun Communities Inc. COM 866674104 212,004 2,087,882 SH   SOLE   1,291,058 0 796,824
Tallgrass Energy LP COM 874696107 3,162 134,102 SH   SOLE   134,102 0 0
Taubman Centers Inc. COM 876664103 156,100 2,609,051 SH   SOLE   1,534,371 0 1,074,680
TIER REIT Inc COM 88650V208 46,958 1,948,462 SH   SOLE   1,000,838 0 947,624
Union Pacific Corp COM 907818108 3,683 22,620 SH   SOLE   10,020 0 12,600
Ventas Inc. COM 92276F100 124,157 2,283,140 SH   SOLE   1,285,470 0 997,670
VEREIT Inc COM 92339V100 120,527 16,601,550 SH   SOLE   11,330,179 0 5,271,371
Vici Properties Inc. COM 925652109 196,973 9,110,703 SH   SOLE   5,713,592 0 3,397,111
Vornado Realty Trust COM 929042109 54,042 740,297 SH   SOLE   268,456 0 471,841
Welltower Inc. COM 95040Q104 253,325 3,938,503 SH   SOLE   2,352,957 0 1,585,546
Western Gas Equity Partners LP COM 95825R103 1,291 43,130 SH   SOLE   43,130 0 0
Western Gas Partners LP COM 958254104 2,261 51,768 SH   SOLE   51,768 0 0
Williams Cos. COM 969457100 9,822 361,245 SH   SOLE   248,245 0 113,000
Xenia Hotels & Resorts Inc COM 984017103 1,545 65,204 SH   SOLE   65,204 0 0
Zayo Group Holdings Inc COM 98919V105 1,072 30,879 SH   SOLE   13,679 0 17,200