In Brief: Aug. 7, 2000

REBOUNDING REITS Real estate investment trusts are publicly traded companies that invest in properties ranging from New York City skyscrapers to Texas prisons. Despite high dividends, averaging 7%, REITs have been slumping the past couple years as investors dumped them for more lucrative returns in the tech sector. Now, with tech wobbling, the real estate market remains hot, so REITs have been rising. Analysts favor those with holdings in high-occupancy areas or with long-term commercial leases. Leading performers this year include: Vornado Realty Trust and Spieker Properties. The risk: if interest rates keep rising, REITs could take another hit.

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