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
TC Energy Corp. COM 87807B107 951 19,150 SH   SOLE   19,150 0 0
Agree Realty Corp COM 008492100 990 15,460 SH   SOLE   0 0 15,460
Alexandria Real Estate Equitie COM 015271109 138,841 984,059 SH   SOLE   531,244 0 452,815
American Campus Communities COM 024835100 109,779 2,378,226 SH   SOLE   1,357,279 0 1,020,947
American Electric Power Co. In COM 025537101 10,577 120,179 SH   SOLE   30,179 0 90,000
American Tower Corp. COM 03027X100 1,435 7,020 SH   SOLE   1,620 0 5,400
Americold Realty Trust COM 03064D108 52,188 1,609,738 SH   SOLE   946,480 0 663,258
Andeavor Logistics LP COM 03350F106 1,404 38,657 SH   SOLE   38,657 0 0
Antero Midstream Corp COM 03676B102 4,851 423,303 SH   SOLE   185,503 0 237,800
Aqua America Inc. COM 03836W103 5,609 135,589 SH   SOLE   35,939 0 99,650
Atmos Energy Corp. COM 049560105 8,511 80,630 SH   SOLE   20,230 0 60,400
AvalonBay Communities Inc. COM 053484101 164,650 810,365 SH   SOLE   439,202 0 371,163
Boston Properties Inc. COM 101121101 2,912 22,577 SH   SOLE   4,546 0 18,031
Brandywine Realty Trust SBI COM 105368203 28,320 1,977,671 SH   SOLE   883,670 0 1,094,001
Brixmor Property Group COM 11120U105 86,810 4,855,134 SH   SOLE   2,474,918 0 2,380,216
Brookfield Property REIT Inc. COM 11282X103 2,462 130,347 SH   SOLE   130,347 0 0
Buckeye Partners L.P. COM 118230101 2,045 49,825 SH   SOLE   49,825 0 0
Camden Property Trust COM 133131102 87,455 837,774 SH   SOLE   469,744 0 368,030
Cheniere Energy Inc. COM 16411R208 11,915 174,064 SH   SOLE   65,027 0 109,037
Cheniere Energy Partners, L.P. COM 16411Q101 1,042 24,700 SH   SOLE   24,700 0 0
CMS Energy Corporation COM 125896100 6,736 116,319 SH   SOLE   29,035 0 87,284
Columbia Property Trust, Inc. COM 198287203 74,864 3,609,626 SH   SOLE   2,125,351 0 1,484,275
Cousins Properties Inc. COM 222795502 91,520 2,530,286 SH   SOLE   1,439,122 0 1,091,164
Crestwood Equity Partners LP COM 226344208 2,173 60,756 SH   SOLE   60,756 0 0
Crown Castle International Cor COM 22822V101 62,398 478,694 SH   SOLE   258,692 0 220,002
CubeSmart COM 229663109 164,973 4,933,410 SH   SOLE   2,664,786 0 2,268,624
CYRUSONE INC COM 23283R100 21,493 372,366 SH   SOLE   96,961 0 275,405
DCP Midstream LP COM 23311P100 1,173 40,050 SH   SOLE   40,050 0 0
Diamondrock Hospitality COM 252784301 195 18,842 SH   SOLE   18,842 0 0
Digital Realty Trust Inc. COM 253868103 9,812 83,299 SH   SOLE   6,145 0 77,154
Dominion Energy Inc. COM 25746U109 3,929 50,809 SH   SOLE   11,809 0 39,000
Douglas Emmett Inc. COM 25960P109 75,005 1,882,658 SH   SOLE   1,080,666 0 801,992
Duke Realty Corporation COM 264411505 77,527 2,452,602 SH   SOLE   1,390,829 0 1,061,773
Enable Midstream Partners LP COM 292480100 1,640 119,657 SH   SOLE   119,657 0 0
Energy Transfer LP COM 29273V100 4,996 354,843 SH   SOLE   354,843 0 0
Enlink Midstream LLC COM 29336T100 1,396 138,355 SH   SOLE   138,355 0 0
Enterprise Products Partners L COM 293792107 4,843 167,763 SH   SOLE   167,763 0 0
EQM Midstream Partners, L.P. COM 26885B100 2,541 56,880 SH   SOLE   56,880 0 0
Equinix Inc COM 29444U700 160,101 317,479 SH   SOLE   171,990 0 145,489
Equity Residential COM 29476L107 249,674 3,288,646 SH   SOLE   1,842,703 0 1,445,943
Essex Property Trust Inc. COM 297178105 3,773 12,924 SH   SOLE   10,000 0 2,924
Evergy Inc. COM 30034W106 5,961 99,096 SH   SOLE   23,227 0 75,869
Exelon Corp. COM 30161N101 5,918 123,448 SH   SOLE   29,048 0 94,400
Extra Space Storage Inc. COM 30225T102 177,325 1,671,301 SH   SOLE   882,878 0 788,423
Federal Realty Investment Trus COM 313747206 9,715 75,450 SH   SOLE   75,450 0 0
FirstEnergy Corp. COM 337932107 8,185 191,184 SH   SOLE   46,884 0 144,300
Four Corners Property Trust COM 35086T109 10,049 367,673 SH   SOLE   146,721 0 220,952
Front Yard Residential Corp COM 35904G107 7,074 578,896 SH   SOLE   271,326 0 307,570
Genesee & Wyoming Inc COM 371559105 1,795 17,952 SH   SOLE   4,452 0 13,500
Genesis Energy L.P. COM 371927104 1,071 48,900 SH   SOLE   48,900 0 0
HCP Inc. COM 40414L109 166,125 5,194,660 SH   SOLE   2,875,936 0 2,318,724
Healthcare Trust of America In COM 42225P501 143,114 5,217,413 SH   SOLE   2,914,439 0 2,302,974
Hess Midstream Partners LP COM 428104103 1,066 54,687 SH   SOLE   54,687 0 0
Holly Energy Partners L.P. COM 435763107 935 34,000 SH   SOLE   34,000 0 0
Host Hotels & Resorts Inc. COM 44107P104 90,677 4,976,793 SH   SOLE   3,088,725 0 1,888,068
Hudson Pacific Properties COM 444097109 126,530 3,803,124 SH   SOLE   2,037,877 0 1,765,247
Invitation Homes Inc COM 46187W107 156,378 5,850,276 SH   SOLE   3,255,238 0 2,595,038
Iron Mountain Incorporated COM 46284V101 218 6,967 SH   SOLE   6,967 0 0
Kimco Realty Corp. COM 49446R109 3,491 188,926 SH   SOLE   188,926 0 0
Liberty Property Trust COM 531172104 81,869 1,636,074 SH   SOLE   901,283 0 734,791
Magellan Midstream Partners L. COM 559080106 4,420 69,063 SH   SOLE   69,063 0 0
MGM Growth Properties LLC COM 55303A105 72,770 2,374,233 SH   SOLE   1,521,900 0 852,333
MPLX LP COM 55336V100 3,225 100,179 SH   SOLE   100,179 0 0
NexPoint Residential Trust, In COM 65341D102 11,854 286,327 SH   SOLE   95,271 0 191,056
Nextera Energy Inc COM 65339F101 6,267 30,591 SH   SOLE   7,321 0 23,270
NiSource Inc. COM 65473P105 2,416 83,898 SH   SOLE   19,698 0 64,200
Park Hotels & Resorts Inc COM 700517105 26,071 945,965 SH   SOLE   606,569 0 339,396
Pebblebrook Hotel Trust COM 70509V100 43,586 1,546,698 SH   SOLE   988,663 0 558,035
Piedmont Office Realty Trust I COM 720190206 74,003 3,713,161 SH   SOLE   2,118,160 0 1,595,001
Plains All American Pipeline, COM 726503105 4,066 166,987 SH   SOLE   166,987 0 0
ProLogis Inc. COM 74340W103 298,984 3,732,630 SH   SOLE   2,047,481 0 1,685,149
Public Service Enterprise Grou COM 744573106 5,348 90,920 SH   SOLE   22,920 0 68,000
Public Storage COM 74460D109 6,197 26,018 SH   SOLE   15,530 0 10,488
QTS Realty Trust Inc COM 74736A103 48,985 1,060,746 SH   SOLE   557,987 0 502,759
Regency Centers Corporation COM 758849103 148,247 2,221,257 SH   SOLE   1,183,651 0 1,037,606
Retail Properties of America, COM 76131V202 30,367 2,582,237 SH   SOLE   1,070,191 0 1,512,046
Ryman Hospitality Properties COM 78377T107 14,079 173,625 SH   SOLE   70,668 0 102,957
Sempra Energy COM 816851109 8,612 62,662 SH   SOLE   15,462 0 47,200
Simon Property Group Inc. COM 828806109 171,554 1,073,824 SH   SOLE   587,945 0 485,879
Southwest Gas Holdings Inc. COM 844895102 2,093 23,358 SH   SOLE   5,558 0 17,800
Spirit Realty Capital Inc. COM 84860W300 33,006 773,691 SH   SOLE   281,254 0 492,437
STAG Industrial, Inc. COM 85254J102 28,817 952,937 SH   SOLE   357,182 0 595,755
STORE Capital Corp COM 862121100 139,828 4,212,969 SH   SOLE   2,251,987 0 1,960,982
Summit Midstream Partners LP COM 866142102 414 55,600 SH   SOLE   55,600 0 0
Sun Communities Inc. COM 866674104 120,939 943,436 SH   SOLE   482,135 0 461,301
Tallgrass Energy LP COM 874696107 1,641 77,732 SH   SOLE   77,732 0 0
Taubman Centers Inc. COM 876664103 82,066 2,009,939 SH   SOLE   1,102,073 0 907,866
TC Pipelines L.P. COM 87233Q108 1,377 36,600 SH   SOLE   36,600 0 0
Union Pacific Corp COM 907818108 7,632 45,128 SH   SOLE   10,028 0 35,100
USA Compression Partners LP COM 90290N109 801 45,100 SH   SOLE   45,100 0 0
Ventas Inc. COM 92276F100 25,809 377,605 SH   SOLE   199,559 0 178,046
VEREIT Inc COM 92339V100 109,972 12,205,564 SH   SOLE   6,668,958 0 5,536,606
Vici Properties Inc. COM 925652109 126,378 5,734,007 SH   SOLE   3,555,730 0 2,178,277
Vornado Realty Trust COM 929042109 70,825 1,104,916 SH   SOLE   602,523 0 502,393
Welltower Inc. COM 95040Q104 263,641 3,233,672 SH   SOLE   1,806,384 0 1,427,288
Western Midstream Partners LP COM 958669103 1,876 60,974 SH   SOLE   60,974 0 0
Williams Cos. COM 969457100 9,332 332,795 SH   SOLE   124,495 0 208,300
Zayo Group Holdings Inc COM 98919V105 4,467 135,740 SH   SOLE   34,640 0 101,100