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
Acadia Realty Trust COM 004239109 5,677 198,640 SH   SOLE   23,455 0 175,185
Alexandria Real Estate Equitie COM 015271109 154,278 1,001,545 SH   SOLE   524,376 0 477,169
American Campus Communities COM 024835100 89,628 1,864,149 SH   SOLE   993,539 0 870,610
American Electric Power Co. In COM 025537101 13,369 142,695 SH   SOLE   33,395 0 109,300
American Tower Corp. COM 03027X100 2,716 12,283 SH   SOLE   2,683 0 9,600
Americold Realty Trust COM 03064D108 517 13,949 SH   SOLE   2,140 0 11,809
Antero Midstream Corp COM 03676B102 4,141 559,626 SH   SOLE   233,124 0 326,502
Aqua America Inc. COM 03836W103 6,986 155,839 SH   SOLE   39,289 0 116,550
Atmos Energy Corp. COM 049560105 9,461 83,074 SH   SOLE   19,074 0 64,000
AvalonBay Communities Inc. COM 053484101 44,512 206,716 SH   SOLE   118,463 0 88,253
Brandywine Realty Trust SBI COM 105368203 53,900 3,557,749 SH   SOLE   1,759,080 0 1,798,669
Brixmor Property Group COM 11120U105 95,798 4,721,423 SH   SOLE   2,335,029 0 2,386,394
Camden Property Trust COM 133131102 127,683 1,150,190 SH   SOLE   652,235 0 497,955
Cheniere Energy Inc. COM 16411R208 14,288 226,582 SH   SOLE   75,645 0 150,937
Cheniere Energy Partners, L.P. COM 16411Q101 709 15,600 SH   SOLE   15,600 0 0
CMS Energy Corporation COM 125896100 8,005 125,177 SH   SOLE   27,567 0 97,610
Columbia Property Trust, Inc. COM 198287203 65,663 3,104,657 SH   SOLE   1,811,169 0 1,293,488
Cousins Properties Inc. COM 222795502 111,920 2,977,382 SH   SOLE   1,557,406 0 1,419,976
Crestwood Equity Partners LP COM 226344208 1,943 53,223 SH   SOLE   53,223 0 0
Crown Castle International Cor COM 22822V101 84,036 604,534 SH   SOLE   320,086 0 284,448
CubeSmart COM 229663109 145,398 4,166,120 SH   SOLE   2,236,244 0 1,929,876
CYRUSONE INC COM 23283R100 83,153 1,051,237 SH   SOLE   536,630 0 514,607
DCP Midstream LP COM 23311P100 1,314 50,150 SH   SOLE   50,150 0 0
Diamondrock Hospitality COM 252784301 361 35,211 SH   SOLE   35,211 0 0
Digital Realty Trust Inc. COM 253868103 4,946 38,099 SH   SOLE   0 0 38,099
Dominion Energy Inc. COM 25746U109 3,571 44,065 SH   SOLE   9,365 0 34,700
Douglas Emmett Inc. COM 25960P109 48,595 1,134,606 SH   SOLE   804,725 0 329,881
Duke Realty Corporation COM 264411505 82,646 2,432,915 SH   SOLE   1,375,388 0 1,057,527
Edison International COM 281020107 7,208 95,576 SH   SOLE   22,076 0 73,500
Enable Midstream Partners LP COM 292480100 1,221 101,457 SH   SOLE   101,457 0 0
Energy Transfer LP COM 29273V100 4,184 319,893 SH   SOLE   319,893 0 0
Enlink Midstream LLC COM 29336T100 1,370 161,155 SH   SOLE   161,155 0 0
Enterprise Products Partners L COM 293792107 4,364 152,688 SH   SOLE   152,688 0 0
EQM Midstream Partners, L.P. COM 26885B100 1,749 53,480 SH   SOLE   53,480 0 0
Equinix Inc COM 29444U700 159,058 275,760 SH   SOLE   140,599 0 135,161
Equity Residential COM 29476L107 274,662 3,184,116 SH   SOLE   1,757,691 0 1,426,425
Essex Property Trust Inc. COM 297178105 59,438 181,963 SH   SOLE   118,152 0 63,811
Evergy Inc. COM 30034W106 6,872 103,251 SH   SOLE   22,100 0 81,151
Exelon Corp. COM 30161N101 8,005 165,711 SH   SOLE   35,504 0 130,207
Extra Space Storage Inc. COM 30225T102 166,869 1,428,428 SH   SOLE   731,170 0 697,258
Federal Realty Investment Trus COM 313747206 10,272 75,450 SH   SOLE   75,450 0 0
FirstEnergy Corp. COM 337932107 10,033 208,033 SH   SOLE   48,433 0 159,600
Front Yard Residential Corp COM 35904G107 7,009 606,274 SH   SOLE   247,207 0 359,067
Genesis Energy L.P. COM 371927104 1,299 60,500 SH   SOLE   60,500 0 0
Healthcare Trust of America In COM 42225P501 138,289 4,706,912 SH   SOLE   2,613,711 0 2,093,201
Hess Midstream Partners LP COM 428104103 928 48,187 SH   SOLE   48,187 0 0
Holly Energy Partners L.P. COM 435763107 1,077 42,600 SH   SOLE   42,600 0 0
Host Hotels & Resorts Inc. COM 44107P104 94,230 5,449,976 SH   SOLE   3,469,094 0 1,980,882
Hudson Pacific Properties COM 444097109 113,192 3,382,899 SH   SOLE   1,775,681 0 1,607,218
Invitation Homes Inc COM 46187W107 209,854 7,087,261 SH   SOLE   4,048,324 0 3,038,937
Kimco Realty Corp. COM 49446R109 2,781 133,188 SH   SOLE   133,188 0 0
Liberty Property Trust COM 531172104 71,894 1,400,627 SH   SOLE   789,239 0 611,388
Magellan Midstream Partners L. COM 559080106 4,487 67,713 SH   SOLE   67,713 0 0
MGM Growth Properties LLC COM 55303A105 66,448 2,211,232 SH   SOLE   1,419,462 0 791,770
Mid-America Apt. Comm. COM 59522J103 28,855 221,947 SH   SOLE   76,023 0 145,924
MPLX LP COM 55336V100 3,992 142,524 SH   SOLE   142,524 0 0
NexPoint Residential Trust, In COM 65341D102 11,082 237,005 SH   SOLE   67,043 0 169,962
Nextera Energy Inc COM 65339F101 8,633 37,053 SH   SOLE   9,083 0 27,970
Noble Midstream Partners LP COM 65506L105 692 28,700 SH   SOLE   28,700 0 0
NuSTAR Energy L.P. COM 67058H102 1,124 39,700 SH   SOLE   39,700 0 0
Omega Healthcare Investors COM 681936100 2,511 60,095 SH   SOLE   60,095 0 0
Park Hotels & Resorts Inc COM 700517105 747 29,922 SH   SOLE   0 0 29,922
Pebblebrook Hotel Trust COM 70509V100 37,272 1,339,771 SH   SOLE   826,888 0 512,883
Phillips 66 Partners LP COM 718549207 1,342 23,700 SH   SOLE   23,700 0 0
Piedmont Office Realty Trust I COM 720190206 69,388 3,323,173 SH   SOLE   1,886,768 0 1,436,405
Plains All American Pipeline, COM 726503105 3,361 161,987 SH   SOLE   161,987 0 0
ProLogis Inc. COM 74340W103 345,610 4,055,503 SH   SOLE   2,272,199 0 1,783,304
Public Service Enterprise Grou COM 744573106 6,507 104,811 SH   SOLE   24,911 0 79,900
Public Storage COM 74460D109 585 2,384 SH   SOLE   2,384 0 0
QTS Realty Trust Inc COM 74736A103 52,823 1,027,486 SH   SOLE   527,695 0 499,791
Regency Centers Corporation COM 758849103 83,549 1,202,318 SH   SOLE   676,662 0 525,656
Retail Properties of America, COM 76131V202 29,565 2,399,720 SH   SOLE   952,162 0 1,447,558
Ryman Hospitality Properties COM 78377T107 22,987 280,977 SH   SOLE   150,552 0 130,425
Sempra Energy COM 816851109 9,645 65,342 SH   SOLE   14,642 0 50,700
Simon Property Group Inc. COM 828806109 223,743 1,437,472 SH   SOLE   796,125 0 641,347
Site Centers Corp COM 82981J109 10,939 723,985 SH   SOLE   374,536 0 349,449
Southwest Gas Holdings Inc. COM 844895102 2,997 32,917 SH   SOLE   7,117 0 25,800
Spirit Realty Capital Inc. COM 84860W300 32,553 680,169 SH   SOLE   222,807 0 457,362
STAG Industrial, Inc. COM 85254J102 32,374 1,098,185 SH   SOLE   406,326 0 691,859
STORE Capital Corp COM 862121100 135,362 3,618,345 SH   SOLE   1,915,311 0 1,703,034
Sun Communities Inc. COM 866674104 119,786 806,910 SH   SOLE   394,694 0 412,216
Sunstone Hotel Investors Inc. COM 867892101 14,806 1,077,569 SH   SOLE   639,603 0 437,966
Tallgrass Energy LP COM 874696107 1,864 92,532 SH   SOLE   92,532 0 0
Taubman Centers Inc. COM 876664103 64,938 1,590,452 SH   SOLE   902,988 0 687,464
TC Pipelines L.P. COM 87233Q108 1,468 36,100 SH   SOLE   36,100 0 0
Union Pacific Corp COM 907818108 6,158 38,018 SH   SOLE   8,218 0 29,800
USA Compression Partners LP COM 90290N109 364 21,100 SH   SOLE   21,100 0 0
Ventas Inc. COM 92276F100 38,179 522,784 SH   SOLE   210,017 0 312,767
VEREIT Inc COM 92339V100 190,704 19,499,355 SH   SOLE   10,237,574 0 9,261,781
Vici Properties Inc. COM 925652109 123,929 5,471,467 SH   SOLE   3,378,448 0 2,093,019
Vornado Realty Trust COM 929042109 25,831 405,704 SH   SOLE   161,609 0 244,095
Welltower Inc. COM 95040Q104 210,111 2,317,823 SH   SOLE   1,314,805 0 1,003,018
Western Midstream Partners LP COM 958669103 1,254 50,374 SH   SOLE   50,374 0 0
Williams Cos. COM 969457100 8,564 355,927 SH   SOLE   113,527 0 242,400
Zayo Group Holdings Inc COM 98919V105 5,116 150,917 SH   SOLE   34,617 0 116,300