UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 30, 2011
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Cohen & Steers Capital Management, Inc.
Address: 280 Park Avenue
10th Floor
New York, NY 10017
Form 13F File Number: 28-2405
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
This report is not an admission that Cohen & Steers, Inc. or its subsidiaries
are the beneficial owners of any securities covered by this report, and
Cohen & Steers, Inc. and its subsidiaries expressly disclaim beneficial
ownership of all shares reported herein pursuant to Rule 13d-4.
Person Signing this Report on Behalf of Reporting Manager:
Name: Lisa Phelan
Title: Senior Vice President and Chief Compliance Officer
Phone: (212) 832-3232
Signature, Place, and Dating of Signing:
/s/ Lisa Phelan New York, NY November 14, 2011
----------------- --------------- ------------------
Report Type (Check only one.):
[ ] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all
holdings are reported by other reporting manager(s).)
[X] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported by
other reporting manager(s).)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
Form 13F File Number Name
028-01190 FRANK RUSSELL COMPANY
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 1
Form 13F Information Table Entry Total: 455
Form 13F Information Table Value Total: 24,014,717 (thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
No. Form 13F File Number Name
01 Cohen & Steers Europe SA
FORM 13F INFORMATION TABLE
shares_prn
issuer_name class_title cusip mkt_val amount sole none
(x$1000) voting voting
Abbott Laboratories COM 002824100 66,935 1,308,863 997,963 310,900
Acadia Realty Trust COM 004239109 68,938 3,686,529 1,157,219 2,529,310
Accenture Plc COM G1151C101 169 3,200 - 3,200
Advent Claymore Convertible Sec & Inc COM 00764C109 644 44,500 44,500 -
Advent Claymore Global Convertible COM 007639107 545 86,500 86,500 -
AGIC Convertible & Income FD II COM 001191105 6,420 826,280 826,280 -
AGIC Convertible & Income Fund COM 001190107 7,658 922,631 922,631 -
AGIC Equity & Convertible Income COM 00119P102 44 2,900 2,900 -
AGIC Global Equity & Convertible COM 00119R108 14 1,000 1,000 -
AGIC Intl & Prem Strategy COM 00119Q100 28 2,800 2,800 -
Alexander's Inc. COM 014752109 42,495 117,707 108,341 9,366
Alexandria Real Estate Equities COM 015271109 77,831 1,267,816 - 1,267,816
Alliance National Muni Inc. COM 01864U106 1,390 97,900 97,900 -
AllianceBernstein Global High Income COM 01879R106 4,521 347,800 347,800 -
AllianceBernstein Income Fund COM 01881E101 12,134 1,522,500 1,522,500 -
Alpine Global Dynamic Divide COM 02082E106 13 2,400 2,400 -
Alpine Global Premier Properties Fund COM 02083A103 10,119 1,894,969 1,894,969 -
Alpine Total Dynamic Dividend Fund COM 021060108 6,855 1,519,923 1,519,923 -
American Assets Trust Inc COM 024013104 97,590 5,436,742 4,041,758 1,394,984
American Electric Power COM 025537101 41,619 1,094,656 1,094,656 -
American Express Co. COM 025816109 48,344 1,076,700 848,400 228,300
American Tower Corp. Cl A COM 029912201 132,242 2,458,023 2,458,023 -
American Water Works Co. Inc. COM 030420103 20,962 694,578 694,578 -
Amgen Inc. COM 031162100 24,826 451,800 325,400 126,400
Annaly Capital Management In COM 035710409 7,377 443,600 316,200 127,400
Apache Corp. COM 037411105 41,891 522,066 386,155 135,911
Apartment Investment & Management COM 03748R101 248,693 11,242,905 7,590,546 3,652,359
Apple Inc. COM 037833100 24,548 64,400 21,000 43,400
Archer-Daniels-Midland Co. COM 039483102 28,955 1,167,079 830,779 336,300
Ashford Hospitality Pr.E PFD 044103505 12,441 516,641 435,000 81,641
Associated Estates Realty Corp. COM 045604105 65,791 4,255,547 1,308,301 2,947,246
AT&T Inc. COM 00206R102 81,923 2,872,477 2,281,577 590,900
Atlas Pipeline Partners LP COM 049392103 16 519 519 -
Avago Technologies L COM Y0486S104 18,030 550,200 419,000 131,200
Avalonbay Communities Inc COM 053484101 709,265 6,218,892 3,027,015 3,191,877
Bank Of America Corp. COM 060505104 20,039 3,274,400 2,587,800 686,600
Bank Of New York Mellon Corp. COM 064058100 26,030 1,400,200 1,098,900 301,300
Bankunited Inc COM 06652K103 3,626 174,673 174,673 -
Banner Corporation COM 06652V208 1,692 132,277 132,277 -
Barclays Bank 7.10% (BCS A) PFD 06739H776 2,838 134,257 130,928 3,329
Barclays Bank 7.75% (BCS C) PFD 06739H511 11,241 509,563 504,203 5,360
Barclays Bank 8.125% (BCS D) PFD 06739H362 1,387 60,000 60,000 -
Becton Dickinson & Co. COM 075887109 6,445 87,900 10,600 77,300
BHP Billiton Ltd - Spon Adr ADR 088606108 492 7,400 7,400 -
BioMed Realty Trust Inc. COM 09063H107 62,426 3,767,421 1,685,716 2,081,705
Blackrock Core Bond Trust COM 09249E101 42 3,200 3,200 -
Blackrock Corporate High Yield Fund COM 09255L106 26 3,900 3,900 -
Blackrock Corporate High Yield Fund 3 COM 09255M104 1,184 183,000 183,000 -
Blackrock Corporate High Yield Fund 5 COM 09255N102 2,328 215,600 215,600 -
Blackrock Corporate High Yield Fund 6 COM 09255P107 1,792 169,531 169,531 -
Blackrock Debt Strategies Fund COM 09255R103 358 93,700 93,700 -
Blackrock Diversified Incm S COM 09255W102 12 1,300 1,300 -
Blackrock Dividend Achievers COM 09250N107 66 7,600 7,600 -
BlackRock EcoSolutions Investment Trust COM 092546100 16 2,000 2,000 -
Blackrock Enh Cap And Inc COM 09256A109 79 6,700 6,700 -
BlackRock Enhanced Dividend Achievers Trust COM 09251A104 59 8,400 8,400 -
BlackRock Enhanced Government Fund Inc COM 09255K108 15 1,000 1,000 -
Blackrock Floating Rate Income St 2 COM 09255Y108 19 1,600 1,600 -
BlackRock Floating Rate Income Strategies Fund Inc COM 09255X100 33 2,600 2,600 -
Blackrock Glbl Flt Rt Inc Tr COM 091941104 47 3,700 3,700 -
Blackrock Global Enrg & Res COM 09250U101 1,171 51,800 51,800 -
BlackRock Income Opportunity Trust Inc COM 092475102 32 3,300 3,300 -
BlackRock Income Trust Inc COM 09247F100 43 6,000 6,000 -
Blackrock International Growth COM 092524107 120 15,700 15,700 -
Blackrock Limited Duration Income Trust COM 09249W101 1,467 92,300 92,300 -
Blackrock Mun Income Trust II COM 09249N101 2,937 200,500 200,500 -
Blackrock Munivest Fund COM 09253R105 2,094 207,100 207,100 -
Blackrock Muniyield Fund COM 09253W104 2,039 139,400 139,400 -
Blackrock Muniyield Insured COM 09254E103 2,275 172,100 172,100 -
Blackrock Pfd & Corp. Income Strategy COM 09255J101 319 36,300 36,300 -
Blackrock Pfd Incm Strategie COM 09255H105 38 4,100 4,100 -
Blackrock Preferred And Equi COM 092508100 54 4,700 4,700 -
Blackrock Preferred Opportunity Trust COM 09249V103 20 2,000 2,000 -
Blackrock Real Asset Equity COM 09254B109 3,274 315,100 315,100 -
BlackRock Senior High Income Fund COM 09255T109 28 7,600 7,600 -
Blackrock Strategy Dividend Achv Trust COM 09249Y107 47 5,200 5,200 -
Boardwalk Pipeline Partners LP COM 096627104 31 1,225 1,225 -
Boston Properties Inc. COM 101121101 910,870 10,223,010 4,741,888 5,481,122
Brandywine Realty Trust COM 105368203 77,943 9,730,691 1,662,407 8,068,284
BRE Properties Inc. COM 05564E106 226,349 5,345,992 2,858,441 2,487,551
Bristol-Myers Squibb Co. COM 110122108 220 7,000 - 7,000
Brookfield Asset Management Inc COM 112585104 6,519 234,422 - 234,422
Brookfield Properties Corp. COM 112900105 98,771 7,172,918 6,134,870 1,038,048
Buckeye Partners LP COM 118230101 13,298 212,740 212,740 -
Calamos Convertible & High Income Fd COM 12811P108 684 61,630 61,630 -
Calumet Specialty Products Partners COM 131476103 17 1,000 1,000 -
Camden Property Trust COM 133131102 52,637 952,539 - 952,539
Campus Crest Communities COM 13466Y105 40,151 3,690,376 3,408,317 282,059
Canadian Natl Railway COM 136375102 1,351 20,100 17,000 3,100
Carnival Corp. COM 143658300 15,398 508,200 359,100 149,100
Caterpillar Inc. COM 149123101 2,200 29,800 28,400 1,400
CBRE Clarion Global Real Estate Fund COM 12504G100 3,028 452,612 452,612 -
Cedar Shopping Centers Inc. COM 150602209 924 297,135 239,048 58,087
CenterPoint Energy Inc. COM 15189T107 24,740 1,260,971 1,260,971 -
Central Fund Canada Cl A COM 153501101 16,322 788,886 788,886 -
Central GoldTrust COM 153546106 3,166 49,600 49,600 -
Chesapeake Midstream Partner COM 16524K108 23 875 875 -
Chevron Corp. COM 166764100 113,645 1,228,330 929,830 298,500
China Mobile Ltd. Sponsored ADR ADR 16941M109 27,010 554,500 487,800 66,700
Chubb Corp COM 171232101 42,197 703,400 529,400 174,000
Citigroup Inc. COM 172967424 25,189 983,186 730,282 252,904
Clearbridge Energy Mlp COM 184692101 1,741 89,120 89,120 -
Clough Global Equity Fund COM 18914C100 2,991 256,300 256,300 -
Clough Global Opportunities Fund COM 18914E106 7,883 747,185 747,185 -
Cogdell Spencer Inc. COM 19238U107 18,972 5,032,335 2,942,780 2,089,555
Cogdell Spencer Pr.A PFD 19238U206 12,430 527,925 295,000 232,925
Colonial Properties Trust COM 195872106 91,037 5,013,039 4,319,051 693,988
Comerica Inc. COM 200340107 31,065 1,352,400 1,075,500 276,900
Commonwealth REIT Pfd. D PFD 203233408 51,326 2,514,725 459,156 2,055,569
Commonwealth REIT Pfd. E PFD 203233606 49,980 2,045,000 - 2,045,000
Copano Energy LLC COM 217202100 63 2,125 2,125 -
Corning Inc. COM 219350105 36,715 2,970,500 2,277,100 693,400
Corporate Office Properties COM 22002T108 31,363 1,440,000 - 1,440,000
Costco Wholesale Corp. COM 22160K105 41,306 503,000 334,300 168,700
Covidien PLC COM G2554F113 54,979 1,246,700 890,900 355,800
Crown Castle International Corp. COM 228227104 71,096 1,748,128 1,748,128 -
Cushing Mlp Total Return Fun COM 231631102 1,661 190,100 190,100 -
CVS Caremark Corp. COM 126650100 66,519 1,980,900 1,414,000 566,900
DCP Midstream Partners LP COM 23311P100 30 760 760 -
DCT Industrial Trust Inc. COM 233153105 144,903 33,007,506 29,893,203 3,114,303
DDR Corp. COM 23317H102 318,256 29,197,835 16,504,916 12,692,919
Delaware Enhanced Global Dividend COM 246060107 19 1,800 1,800 -
Devon Energy Corp. COM 25179M103 28,079 506,473 368,373 138,100
Diamondrock Hospitality Co. COM 252784301 70,010 10,015,803 - 10,015,803
Digital Realty Trust Inc. COM 253868103 159,002 2,882,566 502,552 2,380,014
DNP Select Income Fund COM 23325P104 2,450 244,976 244,976 -
Douglas Emmett Inc. COM 25960P109 136,899 8,005,790 3,540,617 4,465,173
Dow 30 Enhanced Premium & In COM 260537105 41 4,300 4,300 -
Dow 30 Prem & Dvd Incm F Inc COM 260582101 21 1,700 1,700 -
Dow Chemical COM 260543103 16,551 736,900 510,000 226,900
Dreyfus High Yield Strategies Fund COM 26200S101 55 12,800 12,800 -
Duff & Phelps Utility & Corporate Bond COM 26432K108 36 3,100 3,100 -
Duke Realty Corp. COM 264411505 52,600 5,009,500 - 5,009,500
Dupont Fabros Technology Inc. COM 26613Q106 170,967 8,682,911 3,390,309 5,292,602
DWS Dreman Value Income Edge COM 23339M204 31 2,400 2,400 -
DWS High Income Trust COM 23337C208 12 1,300 1,300 -
DWS Multi-Market Income Trust COM 23338L108 22 2,300 2,300
Eastgroup Properties Inc. COM 277276101 29,924 784,596 738,878 45,718
Eaton Corp COM 278058102 16,891 475,800 326,100 149,700
Eaton Vance Enh Equityt Inc COM 278277108 81 8,200 8,200 -
Eaton Vance Floating Rate Income COM 278279104 7,047 500,146 500,146 -
Eaton Vance Insured Muni Bond COM 27827X101 357 28,900 28,900 -
Eaton Vance Limited Duration Fund COM 27828H105 9,799 668,442 668,442 -
Eaton Vance Senior Income Trust COM 27826S103 3,214 509,287 509,287 -
Eaton Vance Short Duration Dividend COM 27828V104 24 1,500 1,500 -
Eaton Vance Sr Fltg Rate Trust COM 27828Q105 3,077 216,526 216,526 -
Eaton Vance T/A Global Dividend COM 27828S101 7,211 592,000 592,000 -
Eaton Vance T/M Buy-Write COM 27828Y108 7,894 722,856 722,856 -
Eaton Vance Tax Adv Global Dividend COM 27828U106 5,549 339,600 339,600 -
Eaton Vance Tax Man Global Br COM 27829C105 3,541 362,765 362,765 -
Eaton Vance Tax-Adv Dvd. Inc. Fund COM 27828G107 14,492 1,060,151 1,060,151 -
Eaton Vance Tax-Managed Dividend COM 27828N102 3,087 361,917 361,917 -
Eaton Vance Tax-Managed Global COM 27829F108 3,085 385,662 385,662 -
Edison International COM 281020107 23,821 622,783 622,783 -
Education Realty Trust Inc. COM 28140H104 82,730 9,630,970 6,623,475 3,007,495
El Paso Corp. COM 28336L109 38 2,150 2,150 -
El Paso Pipeline Partners LP COM 283702108 86 2,430 2,430 -
Emerson Electric Co COM 291011104 25,174 609,400 424,300 185,100
Enbridge Energy Partners LP COM 29250R106 7,353 267,667 267,667 -
Enbridge Inc COM 29250N105 58,845 1,833,155 1,833,155 -
Energy Income & Growth Fund COM 292697109 5,924 233,780 233,780 -
Energy Select Sector Spdr COM 81369Y506 4,230 72,200 72,200 -
Energy Transfer Equity Lp COM 29273V100 78 2,250 2,250 -
Energy Transfer Partners LP COM 29273R109 51 1,250 1,250 -
Ensco PLC-Spon ADR ADR 29358Q109 970 24,000 24,000 -
Enterprise Products Partners COM 293792107 35,241 877,737 877,737 -
Entertainment Properties 9% CV PFD 29380T600 8,075 306,446 211,000 95,446
Entertainment Property 5.75% CV PFD 29380T402 8,032 430,000 - 430,000
Equity Lifestyle Properties COM 29472R108 283,959 4,528,847 2,497,356 2,031,491
Equity Residential COM 29476L107 1,177,568 22,702,303 11,277,551 11,424,752
Essex Property Trust Inc. COM 297178105 57,091 475,601 6,400 469,201
EV Energy Partner LP COM 26926V107 63 885 885 -
Exelon Corp. COM 30161N101 44,205 1,037,438 1,037,438 -
Extra Space Storage Inc. COM 30225T102 64,760 3,476,114 1,999,594 1,476,520
Exxon Mobil Corp. COM 30231G102 96,042 1,322,347 952,247 370,100
Federal Realty Investment Trust COM 313747206 402,435 4,883,323 2,511,595 2,371,728
Federated Enhanc Treas COM 314162108 15 1,000 1,000 -
Felcor Lodging Trust Inc. COM 31430F101 5,360 2,300,451 2,295,227 5,224
First Industrial Realty Trust COM 32054K103 64,325 8,040,620 4,272,240 3,768,380
First Trust Aberdeen Emerging COM 33731K102 17 1,000 1,000 -
First Trust Aberdeen Global Fund COM 337319107 2,948 182,900 182,900 -
First Trust Enhanced Equity Inc. COM 337318109 27 2,600 2,600 -
First Trust/Four Crns Sr F 2 COM 33733U108 295 22,000 22,000 -
Firstenergy Corp. COM 337932107 22,806 507,825 507,825 -
Flah & Crum/Claymore Preferred S I COM 338478100 6,224 388,972 388,972 -
Flah & Crum/Claymore Total Return COM 338479108 3,869 222,100 222,100 -
Ford Motor Co COM 345370860 783 81,000 81,000 -
Forest City Enterprises Cl A COM 345550107 95,489 8,957,682 7,884,247 1,073,435
Fort Dearborn Income Securities Inc COM 347200107 22 1,400 1,400 -
Franklin Resources Inc. COM 354613101 37,175 388,700 309,800 78,900
Franklin Templeton Ltd Duration Inc COM 35472T101 1,298 99,900 99,900 -
Freeport-Mcmoran Copper COM 35671D857 2,948 96,800 34,400 62,400
Gabelli Dividend & Income Trust COM 36242H104 10,004 730,769 730,769 -
Gabelli Equity Trust COM 362397101 13,927 2,932,100 2,932,100 -
Gabelli Gold Nat Res & Income COM 36244N109 2,844 198,198 198,198 -
General Dynamics Corp. COM 369550108 28,281 497,119 372,519 124,600
General Electric Co. COM 369604103 62,231 4,083,430 3,272,430 811,000
General Growth Properties COM 370023103 538,207 44,479,891 22,205,848 22,274,043
Global High Income Fund Inc COM 37933G108 21 1,800 1,800 -
Golar LNG Partners LP COM Y2745C102 11,160 436,460 436,460 -
Goldman Sachs Group Inc. COM 38141G104 35,948 380,200 304,300 75,900
Google Inc. Cl A COM 38259P508 14,300 27,800 6,900 20,900
Grupo Aeroportuario ADR 400506101 1,152 34,690 34,690 -
Guggenheim Enhanced Equity Inc COM 40167B100 17 2,200 2,200 -
Guggenheim Strategic Opp Fund COM 40167F101 4,652 231,921 231,921 -
H & Q Healthcare Investors COM 404052102 41 3,100 3,100 -
H & Q Life Sciences Invstrs COM 404053100 35 3,300 3,300 -
Halliburton Co COM 406216101 12,358 404,900 289,200 115,700
Harris Corp. COM 413875105 3,513 102,800 10,200 92,600
HCC Insurance Holdings Inc. COM 404132102 25,092 927,600 814,600 113,000
Health Care Property Inc. COM 40414L109 1,007,664 28,741,138 15,107,400 13,633,738
Health Care REIT Inc. COM 42217K106 200,086 4,275,343 1,015,280 3,260,063
Healthcare Realty Trust Inc. COM 421946104 49,409 2,932,283 2,718,439 213,844
Hersha Hospitality Trust COM 427825104 84,324 24,371,013 18,120,821 6,250,192
Highland Credit Strategies F COM 43005Q107 38 6,100 6,100 -
Highwoods Properties Inc. COM 431284108 17,437 617,027 537,630 79,397
Home Properties Inc. COM 437306103 287,013 5,056,605 2,690,176 2,366,429
Hospitality Properties Trust COM 44106M102 69,929 3,293,891 1,281,629 2,012,262
Host Hotels & Resorts Inc. COM 44107P104 354,882 32,438,906 11,927,714 20,511,192
HSBC Holdings PLC 6.20% (HBC A) PFD 404280604 696 30,549 26,574 3,975
Hudson Pacific Properties COM 444097109 52,285 4,495,684 3,698,547 797,137
Huntington Bancshares 8.5% CV PFD 446150401 1,404 1,320 1,320 -
Huntington Ingalls Industries COM 446413106 342 14,065 14,065 -
Hyatt Hotels Corp CL A COM 448579102 115,376 3,677,921 3,273,365 404,556
Inergy LP COM 456615103 44 1,775 1,775 -
Ing Infrastructure Indl COM 45685U100 2,522 157,800 157,800 -
Intel Corp. COM 458140100 3,609 169,200 20,800 148,400
International Business Machines Corp. COM 459200101 15,776 90,133 23,333 66,800
Invesco Van Kampen Municipal Opp. COM 46132C107 1,170 85,100 85,100 -
ITC Holdings Corp. COM 465685105 16,568 213,970 213,970 -
John Hancock Bank and Thrift Opp. COM 409735206 41 3,300 3,300 -
John Hancock Investors Trust COM 410142103 24 1,100 1,100 -
John Hancock Patriot Premium Div. COM 41013T105 55 4,600 4,600 -
John Hancock Preferred Income COM 41013W108 1,229 58,219 58,219 -
John Hancock Preferred Income II COM 41013X106 2,501 128,136 128,136 -
John Hancock Preferred Income III COM 41021P103 2,584 160,105 160,105 -
John Hancock T/A Dividend Income COM 41013V100 1,905 121,890 121,890 -
John Hancock Tax-Advantaged Global COM 41013P749 18 1,500 1,500 -
Johnson & Johnson COM 478160104 61,062 958,436 761,636 196,800
Johnson Controls Inc. COM 478366107 24,643 934,500 685,900 248,600
JP Morgan Chase & Co COM 46625H100 83,059 2,757,594 2,100,894 656,700
Kayne Anderson Energy Total Return COM 48660P104 6,317 261,124 261,124 -
Kayne Anderson MidstreamEnergy COM 48661E108 1,042 48,500 48,500 -
Kayne Anderson MLP Investment COM 486606106 2,604 93,600 93,600 -
Keycorp 7.75% CV (KEY G) PFD 493267405 4,241 41,785 41,585 200
Kilroy Realty Corp. COM 49427F108 229,448 7,330,614 3,868,810 3,461,804
Kimco Realty Corp. COM 49446R109 514,804 34,251,740 17,550,702 16,701,038
Kinder Morgan Energy Prtnrs COM 494550106 22,648 331,212 331,212 -
Kinder Morgan Manage COM 49455U100 264 4,503 4,503 -
L-3 Communications Holdings COM 502424104 13,887 224,100 151,800 72,300
Lexington Corp Pr C CV PFD 529043309 9,390 228,449 211,636 16,813
Lexington Realty Trust COM 529043101 9,110 1,393,020 1,045,120 347,900
Liberty All-Star Equity Fund COM 530158104 5,619 1,370,486 1,370,486 -
Liberty Property Trust COM 531172104 408,985 14,049,628 7,561,020 6,488,608
Linn Energy Llc-Units COM 536020100 77 2,160 2,160 -
LMP Capital And Income Fund COM 50208A102 32 2,800 2,800 -
Lockheed Martin Corp. COM 539830109 24,022 330,700 232,400 98,300
LTC Properties Inc. COM 502175102 10,779 425,700 339,000 86,700
Mack-Cali Realty Corp. COM 554489104 193,444 7,231,565 2,286,069 4,945,496
Macquarie Global Infr Tot Rt COM 55608D101 1,549 101,100 101,100 -
Macquarie/Ft Gl Int/Ut Dv In COM 55607W100 2,296 169,700 169,700 -
Magellan Midstream Partners COM 559080106 77 1,280 1,280 -
Managed High Yield Plus Fund Inc COM 561911108 7 3,500 3,500 -
Marathon Petroleum Corp. COM 56585A102 22,027 814,000 582,250 231,750
Market Vectors Gold Miners COM 57060U100 1,976 35,800 35,800 -
MarkWest Energy Partners LP COM 570759100 58,044 1,263,192 1,263,192 -
McDonald's Corp. COM 580135101 85,918 978,339 721,439 256,900
Mckesson Corp. COM 58155Q103 262 3,600 - 3,600
Merck & Co Inc COM 58933Y105 61,779 1,888,700 1,453,000 435,700
MFS Charter Income Trust COM 552727109 44 5,200 5,200 -
MFS Government Markets Income COM 552939100 23 3,400 3,400 -
MFS Intermediate Inc Trust COM 55273C107 65 10,800 10,800 -
MFS Multimarket Income Trust COM 552737108 1,674 265,700 265,700 -
Microsoft Corp. COM 594918104 15,636 628,215 391,215 237,000
Mid-America Apartment Communities COM 59522J103 1,253 20,800 20,800 -
Morgan Stanley Emerging Markets COM 617477104 1,181 81,600 81,600 -
Mosaic Company COM 61945C103 162 3,300 3,300 -
NASDAQ Premium Income & Growth COM 63110R105 26 2,000 2,000 -
National Retail Properties COM 637417106 114,349 4,255,632 3,808,479 447,153
NATL WESTMINSTER 7.76% (NW C) PFD 638539882 26,133 1,460,761 1,457,531 3,230
Natural Resource Partners LP COM 63900P103 47 1,870 1,870 -
Neuberger Berman High Yield COM 64128C106 28 2,200 2,200 -
Neuberger Berman Real Estate COM 64190A103 23 6,500 6,500 -
New America High Income Fund COM 641876800 7,088 784,036 784,036 -
Newmont Mining Corp COM 651639106 22,889 363,900 238,500 125,400
NextEra Energy Inc COM 65339F101 105,975 1,961,770 1,710,570 251,200
NFJ Dividend Interest & Preferred COM 65337H109 2,537 171,900 171,900 -
Nike Inc. COM 654106103 16,538 193,400 140,100 53,300
Nordstrom Inc. COM 655664100 38,551 843,940 612,040 231,900
Norfolk Southern Corp. COM 655844108 25,310 414,787 288,100 126,687
Northrop Grumman Corp. COM 666807102 4,606 88,300 84,400 3,900
Northwest Natural Gas Co. COM 667655104 1,509 34,210 34,210 -
NuStar Energy LP COM 67058H102 68 1,300 1,300 -
Nuveen Build Amer Bd Fd COM 67074C103 646 32,400 32,400 -
Nuveen Core Equity Alpha Fund COM 67090X107 22 1,900 1,900 -
Nuveen Diversified Dividend and Income COM 6706EP105 2,855 292,551 292,551 -
Nuveen Equity Prem & Growth COM 6706EW100 26 2,300 2,300 -
Nuveen Equity Premium Advantag COM 6706ET107 40 3,600 3,600 -
Nuveen Equity Premium Income COM 6706ER101 50 4,700 4,700 -
Nuveen Floating rate Income COM 67072T108 2,156 212,800 212,800 -
Nuveen Floating Rate Income Opp. COM 6706EN100 1,082 103,600 103,600 -
Nuveen Global Government Enh. COM 67073C104 19 1,300 1,300 -
Nuveen Global Value Opp Fund COM 6706EH103 49 3,000 3,000 -
Nuveen Inv Quality Muni Fund COM 67062E103 1,046 70,700 70,700 -
Nuveen Mtg Opportunity COM 670735109 838 40,600 40,600 -
Nuveen Mtg Oppty Term F COM 67074R100 1,152 56,600 56,600 -
Nuveen Multi-Currency Short COM 67090N109 59 4,500 4,500 -
Nuveen Multi-Strategy Income&Growth COM 67073D102 79 10,000 10,000 -
Nuveen Multi-Strategy Income&Growth COM 67073B106 53 7,100 7,100 -
Nuveen Performance Plus Muni COM 67062P108 360 24,700 24,700 -
Nuveen Premium Inc Muni Fd 2 COM 67063W102 1,860 128,900 128,900 -
Nuveen Quality Preferred Inc COM 67071S101 56 7,500 7,500 -
Nuveen Quality Preferred Income Fund COM 67072C105 54 7,100 7,100 -
Nuveen Real Estate Income Fund COM 67071B108 1,474 164,139 164,139 -
Nuveen Senior Income Fund COM 67067Y104 24 3,500 3,500 -
Nuveen Tax-Adv Tot Ret Strat COM 67090H102 1,863 190,500 190,500 -
Nuveen Tax-Advantaged Dividend COM 67073G105 19 1,700 1,700 -
Occidental Petroleum Corp. COM 674599105 54,004 755,300 551,600 203,700
Oiltanking Partners LP COM 678049107 14,126 591,295 591,295 -
ONEOK Partners LP COM 68268N103 135 2,900 2,900 -
Oracle Corp. COM 68389X105 83,998 2,922,700 2,046,200 876,500
Orient Express Hotels Ltd. A COM G67743107 41,934 6,068,605 5,337,169 731,436
P G & E Corp. COM 69331C108 107,402 2,538,451 2,213,851 324,600
Paa Natural Gas Storage Lp COM 693139107 15 935 935 -
Parkway Properties Inc. COM 70159Q104 845 76,785 76,785 -
Patterson Companies COM 703395103 32,074 1,120,300 802,500 317,800
Peabody Energy Corp COM 704549104 10,123 298,800 206,600 92,200
Pebblebrook Hotel Trust COM 70509V100 24,176 1,544,819 1,449,118 95,701
Penn Real Estate Investment Trust COM 709102107 3,641 471,025 471,025 -
Penn Virginia Resource Partners LP COM 707884102 56 2,400 2,400 -
Pepsico Inc. COM 713448108 22,538 364,110 216,710 147,400
Petsmart Inc COM 716768106 17,849 418,500 301,500 117,000
Pfizer Inc. COM 717081103 57,058 3,227,284 2,608,384 618,900
Philip Morris International COM 718172109 50,393 807,833 578,533 229,300
PIMCO Corporate Income Fund COM 72200U100 66 4,700 4,700 -
PIMCO Corporate Opportunity COM 72201B101 6,012 363,457 363,457 -
PIMCO Global Stocksplus & In COM 722011103 37 2,100 2,100 -
PIMCO High Income Fund COM 722014107 7,936 696,774 696,774 -
PIMCO Income Opportunity Fund COM 72202B100 9,744 395,934 395,934 -
PIMCO Income Strategy Fund COM 72201H108 13 1,300 1,300 -
PIMCO Income Strategy Fund II COM 72201J104 846 96,446 96,446 -
Pimco Municipal Income Fund II COM 72200W106 2,306 208,700 208,700 -
PIMCO Strategic Global Government COM 72200X104 33 3,100 3,100 -
Pioneer Diversified High Income COM 723653101 758 40,800 40,800 -
Pioneer Floating Rate Trust COM 72369J102 1,382 116,300 116,300 -
Pioneer High Income Trust COM 72369H106 4,971 304,038 304,038 -
Plains All American Pipeline LP COM 726503105 110 1,875 1,875 -
PNC Financial Services Group COM 693475105 217 4,500 4,500 -
Post Properties Inc. COM 737464107 177,085 5,097,452 3,350,406 1,747,046
Potash Corp of Saskatchewan - US COM 73755L107 10,062 232,800 204,300 28,500
PPL Corp. COM 69351T106 40,717 1,426,672 1,426,672 -
Procter & Gamble Co. COM 742718109 69,004 1,092,176 847,876 244,300
ProLogis Inc. COM 74340W103 565,702 23,327,916 11,815,934 11,511,982
Prudential Finl Inc COM 744320102 66,574 1,420,700 1,098,400 322,300
PS Business Parks Inc. COM 69360J107 38,940 786,032 708,499 77,533
Public Service Enterprise Group COM 744573106 35,637 1,067,945 1,067,945 -
Public Storage COM 74460D109 651,373 5,849,783 2,335,248 3,514,535
Putnam High Income Securities Fund COM 746779107 10 1,300 1,300 -
Putnam Managed Municipal Income COM 746823103 2,003 269,200 269,200 -
Putnam Master Intermediate Income COM 746909100 36 7,100 7,100 -
Putnam Premier Income Trust COM 746853100 7,728 1,444,400 1,444,400 -
Qualcomm Inc. COM 747525103 63,015 1,295,800 932,400 363,400
Questar Corp. COM 748356102 14,379 811,908 811,908 -
Ramco-Gershenson 7.25% CV Pr.D PFD 751452608 13,576 353,827 304,512 49,315
Ramco-Gershenson Properties COM 751452202 9,971 1,215,964 1,031,621 184,343
Rayonier Inc. COM 754907103 45,994 1,250,170 1,171,818 78,352
Reaves Utility Income Fund COM 756158101 66 2,700 2,700 -
Regency Centers Corp. COM 758849103 412,058 11,663,108 5,436,185 6,226,923
Regency Energy Partners Lp COM 75885Y107 83 3,725 3,725 -
RLJ Lodging Trust COM 74965L101 72,356 5,666,102 3,508,751 2,157,351
Rogers Communications Inc COM 775109200 9,934 288,600 86,500 202,100
Ross Stores Inc COM 778296103 38,928 494,700 358,100 136,600
Royal Bank of Canada COM 780087102 143 3,100 - 3,100
Royce Value Trust COM 780910105 4,238 382,500 382,500 -
Sabesp Cia Saneame ADR 20441A102 2,466 53,200 53,200 -
Saul Centers Inc. COM 804395101 5,809 171,800 145,300 26,500
SBA Communications Corp. Cl A COM 78388J106 1,490 43,200 43,200 -
Schlumberger Ltd. COM 806857108 15,972 267,398 190,598 76,800
Sempra Energy COM 816851109 40,178 780,157 754,657 25,500
Senior Housing Properties Trust COM 81721M109 314,669 14,608,592 5,960,977 8,647,615
Simon Property Group Inc. COM 828806109 2,613,306 23,761,651 12,499,041 11,262,610
SL Green Realty Corp. COM 78440X101 414,996 7,136,644 4,018,951 3,117,693
Southern Co COM 842587107 80,192 1,892,668 1,892,668 -
Sovran Self Storage Inc. COM 84610H108 27,599 742,509 4,589 737,920
Special Opportunities F COM 84741T104 14 1,000 1,000 -
Spectra Energy Corp. COM 847560109 2,583 105,320 105,320 -
Starwood Hotels & Resorts COM 85590A401 4,197 108,120 108,120 -
Starwood Property Trust Inc COM 85571B105 3,833 223,350 223,350 -
Strategic Global Income Fund Inc COM 862719101 13 1,300 1,300 -
Stratus Properties Inc. COM 863167201 2,715 338,153 338,153 -
Suburban Propane Partners LP COM 864482104 42 900 900 -
Suncor Energy Inc COM 867224107 232 9,500 - 9,500
Sunstone Hotel Pr. D PFD 867892507 17,454 818,298 467,848 350,450
Symantec Corp COM 871503108 50,832 3,118,500 2,304,500 814,000
Syngenta AG -ADR ADR 87160A100 1,229 23,700 23,700 -
Tanger Factory Outlet Center COM 875465106 7,563 290,757 117,824 172,933
Targa Resources Partners Lp COM 87611X105 73 2,231 2,231 -
Target Corp. COM 87612E106 3,483 71,030 71,030 -
Taubman Centers Inc. COM 876664103 129,453 2,573,113 2,380,148 192,965
TC Pipelines LP COM 87233Q108 42 955 955 -
Teekay Corp. COM Y8564W103 0 10 10 -
Templeton Global Income Fund COM 880198106 1,309 138,565 138,565 -
Tesoro Logistics LP COM 88160T107 10,490 440,768 440,768 -
Teva Pharmaceutical-Sponsored ADR ADR 881624209 23,571 633,284 557,184 76,100
Texas Instruments Inc. COM 882508104 472 17,700 16,300 1,400
The Macerich Co. COM 554382101 342,632 8,037,339 4,587,180 3,450,159
The Walt Disney Co. COM 254687106 67,727 2,245,600 1,664,700 580,900
Tiffany & Co New COM 886547108 3,528 58,000 18,000 40,000
Tim Hortons Inc. COM 88706M103 194 4,200 4,200 -
Time Warner Cable In COM 88732J207 27,080 432,100 304,500 127,600
Toronto-Dominion Bank COM 891160509 12,650 178,300 156,400 21,900
Tortoise MLP Fund, Inc COM 89148B101 5,211 231,000 231,000 -
TransCanada Corp COM 89353D107 63,247 1,549,277 1,546,477 2,800
TS&W/Claymore T/A Balanced COM 87280R108 11 1,000 1,000 -
UDR Inc. COM 902653104 510,571 23,061,042 10,640,043 12,420,999
United Parcel Service Cl B COM 911312106 38,393 607,960 461,160 146,800
United Technologies Corp. COM 913017109 11,389 161,873 68,973 92,900
Unitedhealth Group Inc. COM 91324P102 77,920 1,689,500 1,272,700 416,800
Urstadt Biddle Properties Cl A COM 917286205 17,240 1,079,513 1,009,797 69,716
US Bancorp COM 902973304 58,645 2,491,272 1,929,172 562,100
Van Kampen Bond Fund COM 46132L107 30 1,500 1,500 -
Van Kampen Dynamic Credit Op COM 46132R104 73 6,900 6,900 -
Van Kampen Senior Income Trust COM 46131H107 84 19,800 19,800 -
Ventas Inc. COM 92276F100 840,628 17,016,769 7,823,359 9,193,410
Verizon Communications Inc. COM 92343V104 14,952 406,300 406,300 -
Visa Inc.-Class A Shares COM 92826C839 77,337 902,200 653,800 248,400
Vodafone Group PLC ADR ADR 92857W209 1,757 68,500 68,500 -
Vornado Realty Trust COM 929042109 1,175,379 15,751,529 8,218,719 7,532,810
Wa/Clay US Infl-Lkd Opportunity&Inc. COM 95766R104 82 6,500 6,500 -
Wal-Mart Stores Inc. COM 931142103 3,156 60,800 9,200 51,600
Weingarten Realty Investors COM 948741103 250,865 11,850,000 7,887,106 3,962,894
Wells Fargo & Co. COM 949746101 41,335 1,713,737 1,305,137 408,600
Wells Fargo Advantage Global COM 94987C103 637 79,800 79,800 -
Wells Fargo Advantage Income Oppty. COM 94987B105 3,119 333,200 333,200 -
Wells Fargo Advantage Multi-sector COM 94987D101 54 3,800 3,800 -
Wells Fargo Advantage Utilities & High COM 94987E109 12 1,200 1,200 -
Wells Fargo Co 7.5% (WFC L) PFD 949746804 30,031 29,070 29,070 -
Western Asset Emerging Marke COM 95766A101 67 3,700 3,700 -
Western Asset Emerging Marke COM 95766E103 36 2,800 2,800 -
Western Asset Global Cp COM 95790C107 2,691 155,611 155,611 -
Western Asset Global High In COM 95766B109 4,944 425,500 425,500 -
Western Asset High Income Fund II COM 95766J102 11,409 1,207,299 1,207,299 -
Western Asset High Income Oppty COM 95766K109 2,241 387,700 387,700 -
Western Asset Inflation Management COM 95766U107 17 1,000 1,000 -
Western Asset Managed High Y COM 95766L107 30 5,300 5,300 -
Western Asset Premier Bond COM 957664105 918 60,400 60,400 -
Western Asset Worldwide Income COM 957668106 463 35,631 35,631 -
Western Asset/Claymore InflationLinked COM 95766Q106 29 2,300 2,300 -
Western Gas Partners LP COM 958254104 58 1,725 1,725 -
Weyerhaeuser Co COM 962166104 2,161 138,983 138,983 -
Williams Cos Inc. COM 969457100 40,588 1,667,525 1,667,525 -
Williams Partners LP COM 96950F104 96 1,770 1,770 -
Wisconsin Energy Corp. COM 976657106 71,088 2,271,906 1,793,006 478,900
WW Grainger Inc COM 384802104 2,708 18,110 - 18,110
Xcel Energy Inc. COM 98389B100 15,834 641,300 641,300 -