U.S. REITs outperformed the broader equity market in the first nine months of 2011, despite the woes of the third quarter. The FTSE NAREIT All REIT Index was down 6.14% in the first nine months of the year, and the FTSE NAREIT All Equity REIT Index was down 6.05%. The S&P 500 was down 8.68%. REIT dividends fueled much of the return advantage over the broader market.

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