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Opening Glance: REITs up following economic data



By AP
22 May 2008 @ 10:12 am EST

NEW YORK - Shares of real estate investment trusts mostly rose early Thursday as markets crept higher after two sharp days of losses.

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SLG 55 7.97
BPO 11.1 0.57
BXP 76.18 9.63
KIM 29.78 4.35

SYMBOL LOOKUP

Oil prices set another trading record overnight -moving above $135 per barrel for the first time -but pulled off their highs, offering some relief for investors. And the Labor Department said the number of workers seeking unemployment benefits declined by 9,000 last week to 365,000. The market expected a slight increase.

How shares of some REITs performed shortly after the market opened:

SL Green Realty Corp. rose 5 cents to $95.30.

Brookfield Properties Corp. added a penny to $20.56.

Boston Properties Inc. fell 9 cents to $96.85.

Kimco Realty Corp. gained 20 cents to $39.79.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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