200 distinct real estate companies across 19 different property types. 16.9% annualized returns from 2010-2015. 13.8% annualized returns from 2003-2008. A variety of companies that returned over 30% per year from 2011-2016. A deep pool of opportunities shrouded in a fog of industry jargon and a massive amount of real estate data. No matter how you describe the REIT market, two features tend to stand out. Opportunity and complexity. REITs continuously produce huge winners, but throwing darts at such a diverse set of companies is as likely to harm your portfolio as it is to help.