BENCHMARKS REPORT

Industry Measure: Company Level Data
| SIC: | 6798 |
| INDUSTRY: | REAL ESTATE INVESTMENT TRUST |
| BENCHMARKS FOR THE INDUSTRY |
| NO. OF SEGMENTS REPORTING IN THE INDUSTRY: 209 |
|
1997 SALES FOR THE INDUSTRY: $ 23767 (Total Sales in $Millions) |
|
OPERATING MARGIN: 51.9 (EBIT (divided by) Sales) |
|
CAPITAL INTENSITY: 842.2 (Sum of Total Debt plus Shareholder Equity (divided by) Sales) |
|
SALES GROWTH: 26.8 (Compound 3-Year Growth Rate in Sales for the Median Participant in the Industry) |
| BENCHMARKS FOR THE TOP FOUR COMPETITORS |
| ROE: Net Profits (divided by) Total Shareholder Equity RONCE: EBIT (divided by) Sum of Total Debt plus Shareholders' Equity |
| Competitor/Rank by Sales |
Market Share (% Ind. Sales) |
ROE | RONCE |
| #1: SIMON PROPERTY GROUP INC |
4.5 | 8.9 | 7.7 |
| #2: STARWOOD HOTELS&RESORTS WRLD |
3.9 | 4.1 | 4.8 |
| #3: CAPSTEAD MORTGAGE CORP |
3.8 | 19.4 | 6.5 |
| #4: EQUITY OFFICE PROPERTIES TR |
3.2 | 2.4 | 3.0 |
| Total of #1-4: | 15.4 | 6.0 | 6.2 |