Company

Alexandria Real Estate Equities, Inc.

Ticker:

ARE

Cusip:

015271-109

Meeting Date:

5/7/2015

Record Date:

3/31/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

To elect seven directors to serve until the next annual meeting of stockholders of Alexandria Real Estate Equities, Inc., a Maryland corporation, and until their successors are duly elected and qualify - Joel S. Marcus, John L. Atkins, III, Maria C. Freir

For

For

Management

2

To consider and vote upon, on a non-binding, advisory basis, a resolution to approve the compensation of the Company’s named executive officers, as described in the Proxy Statement for the 2015 Annual Meeting.

For

For

Management

3

To consider and vote upon the ratification of the appointment of Ernst & Young LLP to serve as the Company’s independent registered public accountants for the fiscal year ending December 31, 2015.

For

For

Management

Company

American Campus Communities, Inc.

Ticker:

ACC

Cusip:

024835-100

Meeting Date:

5/7/2015

Record Date:

3/16/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

To elect nine directors to a one-year term of office expiring at the 2016 Annual Meeting of Stockholders or until their successors are duly elected and qualified - William C. Bayless, Jr., R.D. Burck, G. Steven Dawson, Cydney C. Donnell, Dennis G. Lopez,

For

For

Management

2

To ratify Ernst & Young LLP as the independent auditors for 2015.

For

For

Management

3

To hold an advisory vote on executive compensation.

For

For

Management

Company

Annaly Capital Management, Inc.

Ticker:

NLY

Cusip:

035710-406

Meeting Date:

5/21/2015

Record Date:

3/27/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

Election of three Directors for a term of three years each - Wellington J. Denahan, Michael Haylon and Donnell A. Segalas.

For

For

Management

2

Approval of a non-binding advisory resolution on the executive compensation.

For

For

Management

3

Ratification of the appointment of Ernst & Young LLP as the independent registered public accounting firm for 2015.

For

For

Management

Company

Apartment Investment & Management Co.

Ticker:

AIV

Cusip:

03748R-101

Meeting Date:

4/28/2015

Record Date:

2/20/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

Election of directors: James N. Bailey, Terry Considine; Thomas L. Keltner; J. Landis Martin; Robert A. Miller, Kathleen M. Nelson and Michael A. Stein for a term of one year each, until the next Annual Meeting of Stockholders and until their successors are elected and qualify.

For

For

Management

2

To ratify the selection of Ernst & Young LLP, to serve as independent registered public accounting firm for the Company for the fiscal year ending December 31, 2015.

For

For

Management

3

To conduct an advisory vote on executive compensation.

For

For

Management

4

To approve the Apartment Investment and Management Company 2015 Stock Award and Incentive Plan for purposes of Sections 162(m) and 422 of the Internal Revenue Code of 1986, as amended, and the New York Stock Exchange stockholder approval rules.

For

For

Management

5

To approve an amendment to the charter to permit the Board of Directors to grant waivers of the look- through ownership limit up to 18%.

For

For

Management

6

To consider and vote on a stockholder proposal described in the accompanying proxy statement, if this proposal is presented at the meeting.

Against

Against

Shareholder

Company

Armour Residential REIT, Inc.

Ticker:

ARR

Cusip:

042315-101

Meeting Date:

5/27/2015

Record Date:

4/6/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

Elect nine (9) directors to ARMOUR’s Board of Directors until our 2016 annual meeting of stockholders and until their successors are duly elected and qualified -

For

For

Management

2

Ratify the appointment of Deloitte & Touche LLP (“Deloitte”) as ARMOUR’s independent registered certified public accountants for fiscal year 2015

For

For

Management

3

Approve, by a non-binding vote, ARMOUR’s 2014 executive compensation.

For

For

Management

4

Approve, by a non-binding vote, the frequency of future stockholder advisory votes relating to ARMOUR’s executive compensation.

1 Year

1 Year

Management

Company

Ashford Hospitality Trust, Inc.

Ticker:

AHT

Cusip:

044103-109

Meeting Date:

5/12/2015

Record Date:

3/10/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

To elect seven directors to hold office until the next annual meeting of stockholders and until their successors are elected and qualified - Monty J. Bennett, Benjamin J. Ansell, MD, Thomas E Callahan, Amish Gupta, Kamal Jafarani, Philip S. Payne and Alan L. Tallis.

For

For

Management

2

To amend the charter to require a majority voting standard in uncontested director elections.

For

For

Management

3

To ratify the appointment of Ernst & Young LLP, a national public accounting firm, as the independent auditors for the fiscal year ending December 31, 2015.

For

For

Management

4

To obtain advisory approval of the company’s executive compensation.

For

For

Management

5

To approve an amendment to the bylaws to require that only stockholders that have owned at least 1% of the outstanding common stock of the company continuously for at least one year may nominate director candidates and propose other business to be considered by the company’s stockholders at an annual meeting of stockholders.

For

For

Management

Company

Associated Estates Realty Corporation

Ticker:

AEC

Cusip:

045604-105

Meeting Date:

5/22/2015

Record Date:

4/6/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

To elect up to seven directors, each to hold office for a one-year term and until his successor has been duly elected and qualified - Douglas Crocker II, Jon A. Fosheim, Jeffrey I. Friedman, Michael E. Gibbons, James J. Sanfilippo, James A. Schoff and Richard T. Schwarz.

For

For

Management

2

To approve an amendment to the Associated Estates Realty Corporation Amended and Restated Code of Regulations.

For

For

Management

3

Subject to the approval of Proposal Two, to elect John S. Gates, Jr. as a director of the Company.

For

For

Management

4

To approve the Associated Estates Realty Corporation Third Amended and Restated Articles of Incorporation.

For

For

Management

5

To ratify the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the Company’s fiscal year ending December 31, 2015.

For

For

Management

6

To approve, on an advisory basis, the compensation of the named executive officers.

For

For

Management

Company

Avalonbay Communities, Inc.

Ticker:

AVB

Cusip:

053484-101

Meeting Date:

5/21/2015

Record Date:

3/6/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

Elect the following ten directors to serve until the 2016 Annual Meeting of Stockholders and until their respective successors are elected and qualify: Glyn F. Aeppel, Terry S. Brown, Alan B. Buckelew, Ronald L. Havner, Jr., John J. Healy, Jr., Timothy J. Naughton, Lance R. Primis, Peter S. Rummell, H. Jay Sarles and W. Edward Walter.

For

For

Management

2

Ratify the selection of Ernst & Young LLP by the Audit Committee of the Company’s Board of Directors to serve as the Company’s independent auditors for 2015.

For

For

Management

3

Approve, on a non-binding, advisory basis, the compensation of certain executives of the Company.

For

For

Management

4

A stockholder resolution concerning the adoption by the Board and submission to stockholders of a ‘proxy access’ bylaw.

Against

Against

Shareholder

5

A stockholder resolution concerning a policy that the Board’s chairman should be an independent director.

Against

Against

Shareholder

Company

Beazer Homes USA, Inc.

Ticker:

BZH

Cusip:

07556Q-881

Meeting Date:

2/4/2015

Record Date:

12/8/2014

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

Election of Trustees - Elizabeth S. Acton, Laurent Alpert, Brian C. Beazer, Peter G. Leemputte, Allan P. Merrill, Norma A. Provencio, Larry T. Solari and Stephen P. Zelnak, Jr.

For

For

Management

2

The ratification of the selection of Deloitte & Touche LLP by the Audit Committee of the Board of Directors as the independent registered public accounting firm for the fiscal year ending September 30, 2015.

For

For

Management

3

A non-binding advisory vote regarding the compensation paid to the Company’s named executive officers, commonly referred to as a “Say on Pay” proposal.

For

For

Management

Company

Biomed Realty Trust, Inc.

Ticker:

BMR

Cusip:

090663H-107

Meeting Date:

5/27/2015

Record Date:

3/17/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

Elect six directors to serve until the next annual meeting of stockholders and until their successors are duly elected and qualify - Alan D. Gold, Gary A. Kreitzer, Daniel M. Bradbury, William R. Brody, Theodore D. Roth and Janice L. Sears.

For

For

Management

2

Ratification of the appointment of KPMG LLP as the independent registered public accounting firm for the year ending December 31, 2015.

For

For

Management

3

An advisory basis, the compensation of the named executive officers.

For

For

Management

Company

Bluerock Resedential Growth REIT, Inc.

Ticker:

BRG

Cusip:

09627J-102

Meeting Date:

5/28/2015

Record Date:

4/6/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

Elect five directors to hold office for one-year terms expiring in 2016 - R. Ramin Kamfar, Michael L. Konig, Christopher J. Vohs, Gary T. Kachadurian, Brian D. Bailey, I. Bobby Majumder and Romano Tio.

For

For

Management

2

Approve the amendment and restatement of each of the 2014 Equity Incentive Plan for Individuals, or Individuals Plan, and the 2014 Equity Incentive Plan for Entities, or Entities Plan (and together, the 2014 Incentive Plans), to increase the aggregate number of reserved shares of Class A common stock, and make other administrative changes.

For

For

Management

3

Ratify the selection of BDO USA, LLP as our independent registered public accounting firm for 2015.

For

For

Management

Company

Boston Properties, Inc.

Ticker:

BXP

Cusip:

101121-101

Meeting Date:

5/19/2015

Record Date:

3/25/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

Elect the eleven nominees for director named in the proxy statement, each to serve for a one-year term and until their respective successors are duly elected and qualified - Carol B. Einiger, Dr. Jacob A. Frenkel, Joel I. Klein, Douglas T. Linde, Matthew J. Lustig, Alan J. Patricof, Ivan G. Seidenberg, Owen D. Thomas, Martin Turchin, David A. Twardock and Mortimer B. Zuckerman.

For

For

Management

2

An advisory vote on named executive officer compensation.

For

For

Management

3

Ratify the Audit Committee’s appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2015.

For

For

Management

4

Consider and act upon a stockholder proposal concerning an independent board chairman.

Against

Against

Shareholder

5

Consider and act upon a stockholder proposal concerning the adoption of proxy access.

Against

Against

Shareholder

6

Consider and act upon a stockholder proposal concerning a policy regarding accelerated vesting of equity awards to senior executives upon a change in control.

Against

Against

Shareholder

Company

Brandywine Realty Trust

Ticker:

BDN

Cusip:

105368-203

Meeting Date:

5/28/2015

Record Date:

4/2/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

Elect eight Trustees to serve as members of the Board of Trustees until the next annual meeting of shareholders and until their successors are elected and qualified - Walter D’Alessio, Anthony A. Nichols, Sr., Gerard H. Sweeney, James C. Diggs, Wyche Fowler, Michael J. Joyce, Charles P. Pizzi and Carol G. Carroll.

For

For

Management

2

Ratify the appointment of the independent registered public accounting firm for calendar year 2015.

For

For

Management

3

An advisory, non-binding vote on executive compensation.

For

For

Management

Company

Camden Property Trust

Ticker:

CPT

Cusip:

133131-102

Meeting Date:

5/8/2015

Record Date:

3/16/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

Elect ten Trust Managers to hold office for a one- year term - Richard J. Campo, Scott S. Ingraham, Lewis A. Levey, William B. McGuire, Jr., D. Keith Oden, F. Gardner Parker, William F. Paulsen, Frances Aldrich Sevilla-Sacasa, Steven A. Webster and Kelvin R. Westbrook.

For

For

Management

2

Ratify Deloitte & Touche LLP as the independent registered public accounting firm for 2015

For

For

Management

3

Advisory vote on executive compensation.

For

For

Management

Company

CBL & Associates Properties, Inc.

Ticker:

CBL

Cusip:

124830-100

Meeting Date:

5/4/2015

Record Date:

3/9/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

Election of the Board of Directors’ eight director nominees to serve for a term of one year and until their respective successors are elected and qualified - Charles B. Lebovitz, Stephen D. Lebovitz, Gary L. Bryenton, A. Larry Chapman, Matthew S. Dominski, John D. Griffith, Gary J. Nay and Kathleen M. Nelson.

For

For

Management

2

Ratify the selection of Deloitte & Touche LLP (“Deloitte”) as the independent registered public accountants for the Company’s fiscal year ending December 31, 2015

For

For

Management

3

Advisory approval of the compensation of Named Executive Officers.

For

For

Management

4

A stockholders proposal that the Board of Directors adopt a proxy access bylaw.

Against

Against

Shareholder

Company

Cedar Realty Trust, Inc.

Ticker:

CDR

Cusip:

150602-209

Meeting Date:

5/1/2015

Record Date:

3/13/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

Election of Directors: James J. Burns; Pamela N. Hootkin: Paul G. Kirk, Jr.; Everett B. Miller, III; Bruce J. Schanzer, and, Roger M. Widmann.

For

For

Management

2

To vote upon an advisory (non-binding) resolution to approve executive compensation.

For

For

Management

3

To approve the appointment of Ernst & Young LLP as the independent registered public accounting firm of the Company for the fiscal year ending December 31, 2015.

For

For

Management

Company

Chatham Lodging Trust

Ticker:

CLDT

Cusip:

16208T-102

Meeting Date:

5/21/2015

Record Date:

4/1/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

Elect three trustees of the Company to hold office for a one-year term and until their respective successors as trustees are duly elected and qualified - C. Gerald Goldsmith, Rolf E. Ruhfus and Joel F. Zemans.

For

For

Management

2

Ratify the selection of PricewaterhouseCoopers LLP as the Company’s independent registered public accountants for the year ending December 31, 2015.

For

For

Management

3

An advisory vote on executive compensation.

For

For

Management

Company

Chesapeake Lodging Trust

Ticker:

CHSP

Cusip:

165240-102

Meeting Date:

5/20/2015

Record Date:

4/1/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

Elect seven trustees from the nominees named in the attached proxy statement to serve until the 2016 Annual Meeting or until their successors are elected and qualified - James L. Francis, Douglas W. Vicari, Thomas A. Natelli, Thomas D. Eckert, John W. Hill, George F. McKenzie and Jeffrey D. Nuechterlein.

For

For

Management

2

Ratify the appointment of Ernst & Young LLP as the Trust’s independent registered public accounting firm for the year ending December 31, 2015.

For

For

Management

3

Approve, through a non-binding advisory vote, the Trust’s executive compensation program.

For

For

Management

4

Shareholders proposal to amend the governing documents to provide shareholders the right to amend the bylaws by a vote of the majority of outstanding common shares.

Against

Against

Shareholder

5

Shareholders proposal permitting the right to vote on the adoption of any “poison pill” unless required to be implemented in the exercise of the board’s fiduciary duties, in which case the poison pill would be required to expire unless approved by shareholders within a 12-month period following implementation.

Against

Against

Shareholder

6

Shareholders proposal to amend bylaws to lower the voting standard to remove trustees for “cause” as that definition is proposed to be modified in the proposal.

Against

Against

Shareholder

7

Shareholders proposal seeking ratification by a majority of the common shares voted of any new, renewed, extended or modified employment agreements providing for “golden parachutes”.

Against

Against

Shareholder

8

Shareholders proposal mandating that employment agreements with executives not provide for severance payments relating to termination following a change of control that exceed the severance payable in connection with any other form of involuntary termination without cause.

Against

Against

Shareholder

Company

City Office REIT, Inc

Ticker:

CIO

Cusip:

178587-101

Meeting Date:

5/5/2015

Record Date:

3/20/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

To elect six directors to serve until the annual meeting of stockholders in 2016 and until their successors are elected and qualify - John McLernon, James Farrar, Samuel Belzberg, William Flatt, Mark Murski and Stephen Shraiberg.

For

For

Management

2

To ratify the appointment of KPMG LLP as the independent registered public accounting firm for City Office REIT, Inc. (“CIO”) for the fiscal year ending December 31, 2015.

For

For

Management

Company

Cohen & Steers Quality Income Realty Fund

Ticker:

RQI

Cusip:

19247L-106

Meeting Date:

4/23/2015

Record Date:

2/27/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

Election of directors - George Grossman, Robert Steers and C. Edward Ward, Jr.

For

For

Management

Company

Corporate Office Properties Trust

Ticker:

OFC

Cusip:

22002T108

Meeting Date:

5/7/2015

Record Date:

3/13/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

Elect nine Trustees - Thomas F. Brady, Robert L. Denton, Philip L. Hawkins, U.S. Rear Admiral (Ret.) Elizabeth A. Hight, David M. Jacobstein, Steven D. Kesler, C. Taylor Pickett, Richard Szafranski and Roger A. Waesche, Jr.

For

For

Management

2

Ratify the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the current fiscal year.

For

For

Management

3

Approve, on an advisory basis, the compensation of named executive officers as disclosed in the proxy statement for this meeting.

For

For

Management

Company

Cubesmart

Ticker:

CUBE

Cusip:

277276-101

Meeting Date:

5/17/2015

Record Date:

3/13/2015

Management

Vote

#

Proposal

Recommendation

Cast

Sponsor

1

Elect eight Trustees to serve until the 2016 annual shareholders meeting and until their successors are duly elected and qualified - William M. Diefenderfer III, Piero Bussani, John W. Fain, Marianne M. Keler, Christopher P. Marr, John F. Remondi, Jeffrey F. Rogatz and Deborah R. Salzberg.

For

For

Management

2

Vote on a proposal to amend the current Declaration of Trust to increase the authorized common shares of beneficial interest from 200,000,000 to 400,000,000.

For

For

Management

3

Vote to amend the Declaration of Trust to simplify the ownership limitation provisions of the Declaration of Trust.

For

For

Management

4

Vote on a proposal to amend the Declaration of Trust to increase the “Ownership Limit” pertaining to ownership of the common shares from 5.0% to 9.8%.

For

For

Management

5

Ratify the appointment of KPMG LLP as the independent registered public accounting firm for the year ending December 31, 2015.

For

For

Management

6

An advisory vote to approve executive compensation.

For

For

Management

Company

DCT Industrial Trust Inc.

Ticker:

DCT

Cusip:

233153-204

Meeting Date:

4/29/2015

Record Date:

3/3/2015

Management

Vote

#