Ratings by (Michael Lewis)

Date	Company	Symbol	Type	Rating (Past)	PT (Past)	Start $ (End $)	% Chg.	Details
6/25/2020	Medical Properties Trust	MPW	Maintain	(N/A)			Details
6/18/2020	Apartment Investment Management	AIV	Upgrade	()	39.13 (2.61)	-93.33%	Details
6/18/2020	Mid-America Apartment Communities	MAA	Downgrade	()	118.64 (133.53)	12.55%	Details
6/17/2020	Equity Residential	EQR	Maintain	(N/A)			Details
5/29/2020	Vornado Realty Trust	VNO	Maintain	(N/A)			Details
5/27/2020	Easterly Government Properties	DEA	Maintain	()			Details
5/22/2020	Physicians Realty Trust	DOC	Maintain	(N/A)			Details
5/22/2020	NexPoint Residential Trust	NXRT	Maintain	(N/A)			Details
5/21/2020	Physicians Realty Trust	DOC	Maintain	(N/A)			Details
5/6/2020	Highwoods Properties Inc.	HIW	Maintain	(N/A)			Details
4/28/2020	BrandyWine	BDN	Maintain	(N/A)			Details
4/27/2020	Washington Real Estate Investment Trust	WRE	Maintain	(N/A)			Details
4/23/2020	Physicians Realty Trust	DOC	Maintain	(N/A)			Details
4/23/2020	Medical Properties Trust	MPW	Maintain	(N/A)			Details
4/2/2020	NexPoint Residential Trust	NXRT	Maintain	(N/A)			Details
4/2/2020	Equity Residential	EQR	Maintain	(N/A)			Details
3/13/2020	NexPoint Residential Trust	NXRT	Maintain	(N/A)			Details
3/12/2020	Physicians Realty Trust	DOC	Maintain	(N/A)			Details
3/12/2020	Medical Properties Trust	MPW	Maintain	(N/A)			Details
2/21/2020	Washington Real Estate Investment Trust	WRE	Maintain	(N/A)			Details
2/20/2020	Washington Real Estate Investment Trust	WRE	Maintain	(N/A)			Details
2/14/2020	Medical Properties Trust	MPW	Maintain	(N/A)			Details
1/31/2020	Vornado Realty Trust	VNO	Maintain	(N/A)			Details
1/31/2020	Equity Residential	EQR	Maintain	(N/A)			Details
1/30/2020	Equity Residential	EQR	Maintain	(N/A)			Details
1/30/2020	Vornado Realty Trust	VNO	Maintain	(N/A)			Details
1/29/2020	Medical Properties Trust	MPW	Maintain	(N/A)			Details
1/16/2020	Piedmont Office Realty Trust	PDM	Maintain	(N/A)			Details
1/16/2020	Physicians Realty Trust	DOC	Maintain	(N/A)			Details
1/16/2020	Medical Properties Trust	MPW	Maintain	(N/A)			Details
1/16/2020	Highwoods Properties Inc.	HIW	Maintain	(N/A)			Details
1/16/2020	Equity Residential	EQR	Maintain	(N/A)			Details
1/16/2020	BrandyWine	BDN	Maintain	(N/A)			Details
12/6/2019	Easterly Government Properties	DEA	Maintain	(N/A)			Details
12/5/2019	Vornado Realty Trust	VNO	Maintain	(N/A)			Details
12/4/2019	Physicians Realty Trust	DOC	Maintain	(N/A)			Details
11/29/2019	Piedmont Office Realty Trust	PDM	Maintain	(N/A)			Details
11/21/2019	NexPoint Residential Trust	NXRT	Maintain	(N/A)			Details
10/25/2019	Equity Residential	EQR	Maintain	(N/A)			Details
10/8/2019	NexPoint Residential Trust	NXRT	New Coverage	(N/A)	48.35 (24.14)	-50.07%	Details
9/23/2019	Highwoods Properties Inc.	HIW	Maintain	(N/A)			Details
9/5/2019	Sabra Healthcare REIT Inc.	SBRA	Maintain	(N/A)			Details
8/27/2019	Medical Properties Trust	MPW	Maintain	(N/A)			Details
8/26/2019	Vornado Realty Trust	VNO	Maintain	(N/A)			Details
8/23/2019	Equity Residential	EQR	Maintain	(N/A)			Details
7/25/2019	Highwoods Properties Inc.	HIW	Maintain	(N/A)			Details
7/2/2019	Medical Properties Trust	MPW	Upgrade	()	17.44 (5.02)	-71.22%	Details
5/24/2019	Community Healthcare Trust	CHCT	Maintain	(N/A)			Details
5/22/2019	Vornado Realty Trust	VNO	Maintain	(N/A)			Details
5/1/2019	BrandyWine	BDN	Maintain	(N/A)			Details
3/5/2019	Medical Properties Trust	MPW	Maintain	(N/A)			Details
2/25/2019	Apartment Investment Management	AIV	Downgrade	()	49.58 (2.61)	-94.74%	Details
2/20/2019	Vornado Realty Trust	VNO	Maintain	(N/A)			Details
2/19/2019	Highwoods Properties Inc.	HIW	Maintain	(N/A)			Details
2/14/2019	Piedmont Office Realty Trust	PDM	Maintain	(N/A)			Details
12/18/2018	Omega Healthcare Investors	OHI	New Coverage	(N/A)	36.70 (47.03)	28.15%	Details
12/18/2018	Community Healthcare Trust	CHCT	New Coverage	(N/A)	30.59 (14.82)	-51.55%	Details
12/18/2018	Sabra Healthcare REIT Inc.	SBRA	New Coverage	()	18.01 (20.63)	14.55%	Details
12/18/2018	Medical Properties Trust	MPW	Downgrade	()	16.85 (17.44)	3.5%	Details
11/30/2018	Piedmont Office Realty Trust	PDM	Upgrade	()	18.27 (9.78)	-46.47%	Details
11/27/2018	Apartment Investment Management	AIV	Maintain	(N/A)			Details
10/30/2018	Washington Real Estate Investment Trust	WRE	Maintain	()			Details
10/30/2018	Washington Real Estate Investment Trust	WRE	Maintain	(N/A)			Details
8/23/2018	Preferred Apartment Communities	APTS	Maintain	(N/A)			Details
8/16/2018	Vornado Realty Trust	VNO	Maintain	(N/A)			Details
8/14/2018	Equity Residential	EQR	Downgrade	()	65.96 (63.66)	-3.49%	Details