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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING OF REGISTERED MANAGEMENT
INVESTMENT COMPANY
Investment Company Act file number 811-08034
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FRANKLIN REAL ESTATE SECURITIES TRUST
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(Exact name of registrant as specified in charter)
ONE FRANKLIN PARKWAY, SAN MATEO, CA 94403-1906
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(Address of principal executive offices) (Zip code)
MURRAY L. SIMPSON, ONE FRANKLIN PARKWAY, SAN MATEO, CA 94403-1906
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(Name and address of agent for service)
Registrant's telephone number, including area code: (650) 312-2000
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Date of fiscal year end: 4/30
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Date of reporting period: 6/30/04
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ITEM 1. PROXY VOTING RECORD
===================== FRANKLIN REAL ESTATE SECURITIES FUND =====================
ALEXANDRIA REAL ESTATE EQUITIES, INC.
Ticker: ARE Security ID: 015271109
Meeting Date: MAY 12, 2004 Meeting Type: Annual
Record Date: MAR 29, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Jerry M. Sudarsky For For Management
1.2 Elect Director Joel S. Marcus For For Management
1.3 Elect Director James H. Richardson For For Management
1.4 Elect Director Richard B. Jennings For For Management
1.5 Elect Director Richard H. Klein For For Management
1.6 Elect Director Anthony M. Solomon For For Management
1.7 Elect Director Alan G. Walton For For Management
1.8 Elect Director Richmond A. Wolf For For Management
2 Ratify Auditors For Against Management
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AMB PROPERTY CORP.
Ticker: AMB Security ID: 00163T109
Meeting Date: MAY 20, 2004 Meeting Type: Annual
Record Date: MAR 5, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Hamid R. Moghadam For For Management
1.2 Elect Director W. Blake Baird For For Management
1.3 Elect Director T. Robert Burke For For Management
1.4 Elect Director David A. Cole For For Management
1.5 Elect Director J. Michael Losh For For Management
1.6 Elect Director Frederick W. Reid For For Management
1.7 Elect Director Jeffrey L. Skelton For For Management
1.8 Elect Director Thomas W. Tusher For For Management
1.9 Elect Director Caryl B. Welborn For For Management
2 Ratify Auditors For For Management
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AMERICAN FINANCIAL REALTY TRUST
Ticker: AFR Security ID: 02607P305
Meeting Date: JUN 9, 2004 Meeting Type: Annual
Record Date: APR 9, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Trustee Glenn Blumenthal For For Management
1.2 Elect Trustee John M. Eggemeyer III For For Management
1.3 Elect Trustee Raymond Garea For For Management
1.4 Elect Trustee Michael J. Hagan For For Management
1.5 Elect Trustee John P. Hollihan III For For Management
1.6 Elect Trustee William M. Kahane For For Management
1.7 Elect Trustee Richard A. Kraemer For Withhold Management
1.8 Elect Trustee Lewis S. Ranieri For For Management
1.9 Elect Trustee Nicholas S. Schorsch For For Management
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AMERICAN FINANCIAL REALTY TRUST
Ticker: AFR Security ID: 02607P305
Meeting Date: SEP 25, 2003 Meeting Type: Annual
Record Date: AUG 8, 2003
# Proposal Mgt Rec Vote Cast Sponsor
1 Declassify the Board of Directors For For Management
2.a.1 Elect Trustee Glenn Blumenthal For For Management
2.a.2 Elect Trustee John M. Eggemeyer III For For Management
2.a.3 Elect Trustee Raymond Garea For For Management
2.a.4 Elect Trustee Michael J. Hagan For For Management
2.a.5 Elect Trustee John P. Hollihan III For For Management
2.a.6 Elect Trustee William M. Kahane For For Management
2.a.7 Elect Trustee Richard A. Kraemer For For Management
2.a.8 Elect Trustee Lewis S. Ranieri For For Management
2.a.9 Elect Trustee Nicholas S. Schorsch For For Management
2.a.0 Elect Trustee J. Rock Tonkel For For Management
2.b.1 Elect Trustee Glenn Blumenthal For For Management
2.b.2 Elect Trustee Raymond Garea For For Management
2.b.3 Elect Trustee William M. Kahane For For Management
3 Amend Omnibus Stock Plan For For Management
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AMLI RESIDENTIAL PROPERTIES TRUST
Ticker: AML Security ID: 001735109
Meeting Date: APR 26, 2004 Meeting Type: Annual
Record Date: MAR 5, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director John E. Allen For For Management
1.2 Elect Director Adam S. Metz For For Management
1.3 Elect Director Philip N. Tague For Withhold Management
2 Ratify Auditors For For Management
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ARCHSTONE SMITH TRUST
Ticker: ASN Security ID: 039583109
Meeting Date: MAY 20, 2004 Meeting Type: Annual
Record Date: MAR 26, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Ernest A. Gerardi, Jr. For For Management
1.2 Elect Director Ruth Ann M. Gillis For For Management
1.3 Elect Director Ned S. Holmes For For Management
1.4 Elect Director R. Scot Sellers For For Management
2 Ratify Auditors For For Management
3 Restrict Severance Agreements Against For Shareholder
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ARDEN REALTY, INC.
Ticker: ARI Security ID: 039793104
Meeting Date: MAY 11, 2004 Meeting Type: Annual
Record Date: MAR 31, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Leslie E. Bider For For Management
1.2 Elect Director Steven C. Good For Withhold Management
1.3 Elect Director Alan I. Rothenberg For For Management
2 Submit Severance Agreement Against For Shareholder
(Change-in-Control) to Shareholder Vote
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ASHFORD HOSPITALITY TRUST INC.
Ticker: AHT Security ID: 044103109
Meeting Date: MAY 4, 2004 Meeting Type: Annual
Record Date: MAR 15, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Archie Bennett, Jr. For For Management
1.2 Elect Director Montgomery J. Bennett For For Management
1.3 Elect Director Martin L. Edelman For For Management
1.4 Elect Director W.D. Minami For For Management
1.5 Elect Director W. Michael Murphy For For Management
1.6 Elect Director Phillip S. Payne For For Management
1.7 Elect Director Charles P. Toppino For For Management
2 Ratify Auditors For For Management
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AVALONBAY COMMUNITIES, INC.
Ticker: AVB Security ID: 053484101
Meeting Date: MAY 5, 2004 Meeting Type: Annual
Record Date: MAR 9, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Bryce Blair For For Management
1.2 Elect Director Bruce A. Choate For Withhold Management
1.3 Elect Director John J. Healy, Jr. For For Management
1.4 Elect Director Gilbert M. Meyer For For Management
1.5 Elect Director Charles D. Peebler, Jr. For For Management
1.6 Elect Director Lance R. Primis For For Management
1.7 Elect Director Allan D. Schuster For For Management
1.8 Elect Director Amy P. Williams For For Management
2 Submit Shareholder Rights Plan (Poison Against For Shareholder
Pill) to Shareholder Vote
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BEDFORD PROPERTY INVESTORS, INC.
Ticker: BED Security ID: 076446301
Meeting Date: MAY 13, 2004 Meeting Type: Annual
Record Date: MAR 12, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Peter B. Bedford For Withhold Management
1.2 Elect Director Anthony M. Frank For Withhold Management
1.3 Elect Director Peter Linneman For For Management
1.4 Elect Director Bowen H. Mccoy For For Management
1.5 Elect Director Thomas H. Nolan, Jr. For Withhold Management
1.6 Elect Director Martin I. Zankel, Esq. For Withhold Management
2 Amend Non-Employee Director Stock Option For For Management
Plan
3 Ratify Auditors For Against Management
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BOARDWALK REIT (FORMERLY BOARDWALK EQUITIES INC.)
Ticker: BEI.U Security ID: 096613104
Meeting Date: APR 28, 2004 Meeting Type: Special
Record Date: MAR 25, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 A Special Resolution Approving (I) The For For Management
Transfer of All of the Corporations
Assets and Undertakings to a REIT
Partnership; and (II) A Plan of
Arrangement Under Section 193 of the
Business Corporations Act (Alberta)
2 An Ordinary Resolution Approving the For For Management
Adoption of a Unitholder Rights Plan for
Boardwalk REIT
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BOSTON PROPERTIES INC.
Ticker: BXP Security ID: 101121101
Meeting Date: MAY 5, 2004 Meeting Type: Annual
Record Date: MAR 17, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Mortimer B. Zuckerman For Withhold Management
1.2 Elect Director Carol B. Einiger For For Management
1.3 Elect Director Alan B. Landis For Withhold Management
1.4 Elect Director Richard E. Salomon For For Management
2 Declassify the Board of Directors Against For Shareholder
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BRANDYWINE REALTY TRUST
Ticker: BDN Security ID: 105368203
Meeting Date: MAY 3, 2004 Meeting Type: Annual
Record Date: MAR 24, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Trustee Walter D'Alessio For Withhold Management
1.2 Elect Trustee D. Pike Aloian For Withhold Management
1.3 Elect Trustee Donald E. Axinn For For Management
1.4 Elect Trustee Robert C. Larson For Withhold Management
1.5 Elect Trustee Anthony A. Nichols, Sr. For For Management
1.6 Elect Trustee Charles P. Pizzi For Withhold Management
1.7 Elect Trustee Gerard H. Sweeney For For Management
2 Submit Severance Agreement Against For Shareholder
(Change-in-Control) to Shareholder Vote
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BROOKFIELD PROPERTIES CORP.
Ticker: BPO. Security ID: 112900105
Meeting Date: APR 28, 2004 Meeting Type: Annual
Record Date: MAR 17, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Gordon E. Arnell as a Director For For Management
1.2 Elect William T. Cahill as a Director For For Management
1.3 Elect Richard B. Clark as a Director For For Management
1.4 Elect Jack L. Cockwell as a Director For Withhold Management
1.5 Elect J. Bruce Flatt as a Director For For Management
1.6 Elect Lance Liebman as a Director For For Management
1.7 Elect John R. McCaig as a Director For For Management
1.8 Elect Paul D. McFarlane as a Director For For Management
1.9 Elect Allan S. Olson as a Director For For Management
1.10 Elect Sam Pollock as a Director For For Management
1.11 Elect William C. Wheaton as a Director For For Management
1.12 Elect John E. Zuccotti as a Director For Withhold Management
2 Amend Stock Option Plan For For Management
3 Ratify Deloitte & Touche LLP as Auditors For For Management
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CAPITAL AUTOMOTIVE REIT
Ticker: CARS Security ID: 139733109
Meeting Date: MAY 11, 2004 Meeting Type: Annual
Record Date: MAR 1, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director John E. Anderson For For Management
1.2 Elect Director Thomas D. Eckert For For Management
1.3 Elect Director Craig L. Fuller For For Management
1.4 Elect Director Paul M. Higbee For For Management
1.5 Elect Director William E. Hoglund For For Management
1.6 Elect Director R. Michael Mccullough For For Management
1.7 Elect Director John J. Pohanka For Withhold Management
1.8 Elect Director Robert M. Rosenthal For For Management
1.9 Elect Director Vincent A. Sheehy For Withhold Management
2 Ratify Auditors For For Management
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CARRAMERICA REALTY CORP.
Ticker: CRE Security ID: 144418100
Meeting Date: APR 29, 2004 Meeting Type: Annual
Record Date: MAR 5, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Thomas A. Carr For For Management
1.2 Elect Director Joan Carter For For Management
1.3 Elect Director Robert E. Torray For For Management
1.4 Elect Director Wesley S. Williams, Jr. For For Management
1.5 Elect Director Andrew F. Brimmer For Withhold Management
1.6 Elect Director Philip L. Hawkins For For Management
1.7 Elect Director Timothy Howard For For Management
2 Establish Term Limits for Directors Against Against Shareholder
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CATELLUS DEVELOPMENT CORP.
Ticker: CDX Security ID: 149113102
Meeting Date: MAY 4, 2004 Meeting Type: Annual
Record Date: MAR 16, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Stephen F. Bollenbach For Withhold Management
1.2 Elect Director Daryl J. Carter For Withhold Management
1.3 Elect Director Richard D. Farman For For Management
1.4 Elect Director Christine Garvey For For Management
1.5 Elect Director William M. Kahane For For Management
1.6 Elect Director Leslie D. Michelson For For Management
1.7 Elect Director Deanna W. Oppenheimer For Withhold Management
1.8 Elect Director Nelson C. Rising For For Management
1.9 Elect Director Thomas M. Steinberg For For Management
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CATELLUS DEVELOPMENT CORP.
Ticker: CDX Security ID: 149111106
Meeting Date: SEP 26, 2003 Meeting Type: Annual
Record Date: AUG 14, 2003
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Merger Agreement For For Management
2.1 Elect Director Joseph F. Alibrandi For For Management
2.2 Elect Director Stephen F. Bollenbach For For Management
2.3 Elect Director Daryl J. Carter For For Management
2.4 Elect Director Richard D. Farman For For Management
2.5 Elect Director Christine Garvey For For Management
2.6 Elect Director William M. Kahane For For Management
2.7 Elect Director Leslie D. Michelson For For Management
2.8 Elect Director Deanna W. Oppenheimer For Withhold Management
2.9 Elect Director Nelson C. Rising For For Management
2.10 Elect Director Thomas M. Steinberg For For Management
2.11 Elect Director Cora M. Tellez For For Management
3 Amend Omnibus Stock Plan For For Management
4 Approve Omnibus Stock Plan For For Management
5 Submit Shareholder Rights Plan (Poison Against For Shareholder
Pill) to Shareholder Vote
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CENDANT CORPORATION
Ticker: CD Security ID: 151313103
Meeting Date: APR 20, 2004 Meeting Type: Annual
Record Date: FEB 23, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director The Right Honourable For For Management
Brian Mulroney
1.2 Elect Director Ronald L. Nelson For Withhold Management
1.3 Elect Director Robert W. Pittman For For Management
1.4 Elect Director Myra J. Biblowit For For Management
1.5 Elect Director Sheli Z. Rosenberg For For Management
2 Declassify the Board of Directors For For Management
3 Ratify Auditors For For Management
4 Separate Chairman and CEO Positions Against For Shareholder
5 Limit Executive Compensation Against Against Shareholder
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CHELSEA PROPERTY GROUP, INC.
Ticker: CPG Security ID: 163421100
Meeting Date: JUN 10, 2004 Meeting Type: Annual
Record Date: APR 16, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Brendan T. Byrne For For Management
2 Increase Authorized Common Stock For For Management
3 Declassify the Board of Directors For For Management
4 Amend Stock Option Plan For For Management
5 Ratify Auditors For For Management
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CORPORATE OFFICE PROPERTIES TRUST, INC.
Ticker: OFC Security ID: 22002T108
Meeting Date: MAY 13, 2004 Meeting Type: Annual
Record Date: MAR 15, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Jay H. Shidler For For Management
1.2 Elect Director Clay W. Hamlin, III For Abstain Management
1.3 Elect Director Kenneth S. Sweet, Jr. For For Management
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COUSINS PROPERTIES INC.
Ticker: CUZ Security ID: 222795106
Meeting Date: MAY 4, 2004 Meeting Type: Annual
Record Date: MAR 17, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Thomas D. Bell, Jr. For For Management
1.2 Elect Director Erskine B. Bowles For For Management
1.3 Elect Director Richard W. Courts, Ii For Withhold Management
1.4 Elect Director Thomas G. Cousins For Withhold Management
1.5 Elect Director Lillian C. Giornelli For For Management
1.6 Elect Director Terence C. Golden For Withhold Management
1.7 Elect Director Boone A. Knox For For Management
1.8 Elect Director John J. Mack For For Management
1.9 Elect Director Hugh L. Mccoll, Jr. For For Management
1.10 Elect Director William Porter Payne For Withhold Management
2 Amend Omnibus Stock Plan For For Management
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CROWN AMERICAN REALTY TRUST
Ticker: CWN Security ID: 228186102
Meeting Date: NOV 11, 2003 Meeting Type: Special
Record Date: SEP 18, 2003
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Merger Agreement For For Management
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CRT PROPERTIES INC
Ticker: CRO Security ID: 500228101
Meeting Date: JUN 3, 2004 Meeting Type: Annual
Record Date: MAR 26, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director D. Pike Aloian For For Management
1.2 Elect Director Benjamin C. Bishop, Jr. For For Management
1.3 Elect Director Thomas J. Crocker For For Management
1.4 Elect Director David B. Hiley For Withhold Management
1.5 Elect Director Victor A. Hughes, Jr. For For Management
1.6 Elect Director George F. Staudter For For Management
1.7 Elect Director James C. Teagle For Withhold Management
2 Ratify Auditors For For Management
3 Change Company Name For For Management
4 Amend Omnibus Stock Plan For For Management
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DUKE REALTY CORPORATION
Ticker: DRE Security ID: 264411505
Meeting Date: APR 28, 2004 Meeting Type: Annual
Record Date: MAR 1, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Barrington H. Branch For For Management
1.2 Elect Director Gary A. Burk For For Management
1.3 Elect Director Geoffrey Button For For Management
1.4 Elect Director William Cavanaugh III For For Management
1.5 Elect Director Ngaire E. Cuneo For For Management
1.6 Elect Director Charles R. Eitel For For Management
1.7 Elect Director Thomas L. Hefner For For Management
1.8 Elect Director L. Ben Lytle For For Management
1.9 Elect Director William O. McCoy For For Management
1.10 Elect Director John W. Nelley, Jr. For For Management
1.11 Elect Director Dennis D. Oklak For For Management
1.12 Elect Director James E. Rogers For For Management
1.13 Elect Director Jack R. Shaw For For Management
1.14 Elect Director Robert J. Woodward, Jr. For For Management
1.15 Elect Director Darell E. Zink, Jr. For For Management
2 Ratify Auditors For For Management
3 Separate Chairman and CEO Positions Against For Shareholder
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ENTERTAINMENT PROPERTIES TRUST
Ticker: EPR Security ID: 29380T105
Meeting Date: MAY 12, 2004 Meeting Type: Annual
Record Date: MAR 5, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Barrett Brady For For Management
2 Amend Stock Option Plan For Against Management
3 Ratify Auditors For For Management
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EQUITY OFFICE PROPERTIES TRUST
Ticker: EOP Security ID: 294741103
Meeting Date: MAY 19, 2004 Meeting Type: Annual
Record Date: MAR 12, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Thomas E. Dobrowski For For Management
1.2 Elect Director William M. Goodyear For For Management
1.3 Elect Director James D. Harper, Jr. For For Management
1.4 Elect Director Richard D. Kincaid For For Management
1.5 Elect Director David K. Mckown For For Management
1.6 Elect Director Sheli Z. Rosenberg For For Management
1.7 Elect Director Edwin N. Sidman For Withhold Management
1.8 Elect Director J. H.W.R. Van Der Vlist For For Management
1.9 Elect Director Samuel Zell For For Management
2 Ratify Auditors For For Management
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EQUITY RESIDENTIAL
Ticker: EQR Security ID: 29476L107
Meeting Date: MAY 28, 2004 Meeting Type: Annual
Record Date: MAR 29, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director John W. Alexander For For Management
1.2 Elect Director Charles L. Atwood For For Management
1.3 Elect Director Bruce W. Duncan For For Management
1.4 Elect Director Stephen O. Evans For For Management
1.5 Elect Director James D. Harper, Jr. For For Management
1.6 Elect Director Boone A. Knox For For Management
1.7 Elect Director Desiree G. Rogers For For Management
1.8 Elect Director Sheli Z. Rosenberg For For Management
1.9 Elect Director Gerald A. Spector For For Management
1.10 Elect Director B. Joseph White For For Management
1.11 Elect Director Samuel Zell For For Management
2 Amend Articles/Bylaws/Charter to Remove For For Management
Antitakeover Provision(s)
3 Ratify Auditors For For Management
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FAIRMONT HOTELS & RESORTS
Ticker: FHR. Security ID: 305204109
Meeting Date: APR 27, 2004 Meeting Type: Annual/Special
Record Date: MAR 8, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director S. E. Bachand For For Management
1.2 Elect Director W. R. Fatt For For Management
1.3 Elect Director P. C. Godsoe For For Management
1.4 Elect Director M. J. Kowalski For For Management
1.5 Elect Director D. P. O'Brien For For Management
1.6 Elect Director K. M. Rose For For Management
1.7 Elect Director J. L. Sharpe For For Management
1.8 Elect Director L. P. Sharpe For For Management
1.9 Elect Director R. S. Singer For For Management
1.10 Elect Director C. S. Taylor For For Management
2 Ratify PricewaterhouseCoopers LLP as For For Management
Auditors
3 Reconfirm Shareholder Rights Plan (Poison For For Management
Pill)
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FOREST CITY ENTERPRISES, INC.
Ticker: FCE.A Security ID: 345550107
Meeting Date: JUN 8, 2004 Meeting Type: Annual
Record Date: APR 12, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Michael P. Esposito, Jr. For For Management
1.2 Elect Director Joan K. Shafran For For Management
1.3 Elect Director Louis Stokes For For Management
1.4 Elect Director Stan Ross For For Management
2 Amend Stock Option Plan For For Management
3 Ratify Auditors For For Management
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GENERAL GROWTH PROPERTIES, INC.
Ticker: GGP Security ID: 370021107
Meeting Date: MAY 5, 2004 Meeting Type: Annual
Record Date: MAR 17, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director John Bucksbaum For Withhold Management
1.2 Elect Director Alan Cohen For For Management
1.3 Elect Director Anthony Downs For For Management
2 Ratify Auditors For For Management
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GENERAL GROWTH PROPERTIES, INC.
Ticker: GGP Security ID: 370021107
Meeting Date: NOV 20, 2003 Meeting Type: Special
Record Date: OCT 20, 2003
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Increase in Common Stock and a For For Management
Stock Split
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GLENBOROUGH REALTY TRUST INC.
Ticker: GLB Security ID: 37803P105
Meeting Date: MAY 5, 2004 Meeting Type: Annual
Record Date: FEB 27, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Andrew Batinovich For For Management
1.2 Elect Director Laura Wallace For For Management
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GLIMCHER REALTY TRUST
Ticker: GRT Security ID: 379302102
Meeting Date: MAY 7, 2004 Meeting Type: Annual
Record Date: MAR 15, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Trustee Philip G. Barach For Withhold Management
1.2 Elect Trustee William S. Williams For For Management
1.3 Elect Trustee Niles C. Overly For For Management
2 Ratify Auditors For For Management
3 Approve Omnibus Stock Plan For For Management
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HEALTH CARE PROPERTY INVESTORS, INC.
Ticker: HCP Security ID: 421915109
Meeting Date: MAY 7, 2004 Meeting Type: Annual
Record Date: MAR 24, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Mary A. Cirillo For For Management
1.2 Elect Director Robert R. Fanning, Jr. For For Management
1.3 Elect Director James F. Flaherty III For For Management
1.4 Elect Director David B. Henry For For Management
1.5 Elect Director Michael D. McKee For For Management
1.6 Elect Director Harold M. Messmer, Jr. For For Management
1.7 Elect Director Peter L. Rhein For For Management
1.8 Elect Director Kenneth B. Roath For For Management
1.9 Elect Director Richard M. Rosenberg For Withhold Management
1.10 Elect Director Joseph P. Sullivan For For Management
2 Increase Authorized Common Stock For Against Management
3 Declassify the Board of Directors For For Management
4 Ratify Auditors For For Management
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HILTON HOTELS CORP.
Ticker: HLT Security ID: 432848109
Meeting Date: MAY 27, 2004 Meeting Type: Annual
Record Date: MAR 29, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director A. Steven Crown For For Management
1.2 Elect Director David Michels For Withhold Management
1.3 Elect Director John H. Myers For Withhold Management
1.4 Elect Director Donna F. Tuttle For For Management
2 Ratify Auditors For For Management
3 Approve Omnibus Stock Plan For For Management
4 Approve Incentive Bonus Plan For Against Management
5 Declassify the Board of Directors Against For Shareholder
6 Require Majority of Independent Directors Against For Shareholder
on Board
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HOST MARRIOTT CORP.
Ticker: HMT Security ID: 44107P104
Meeting Date: MAY 20, 2004 Meeting Type: Annual
Record Date: MAR 30, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Richard E. Marriott For For Management
1.2 Elect Director Christopher J. Nassetta For For Management
1.3 Elect Director John B. Morse, Jr. For For Management
2 Ratify Auditors For For Management
3 Declassify the Board of Directors For For Management
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ISTAR FINANCIAL INC.
Ticker: SFI Security ID: 45031U101
Meeting Date: MAY 25, 2004 Meeting Type: Annual
Record Date: APR 1, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Jay Sugarman For For Management
1.2 Elect Director Willis Andersen, Jr. For For Management
1.3 Elect Director Robert W. Holman, Jr. For For Management
1.4 Elect Director Robin Josephs For For Management
1.5 Elect Director John G. McDonald For Withhold Management
1.6 Elect Director George R. Puskar For For Management
1.7 Elect Director Jeffrey A. Weber For For Management
2 Amend Deferred Compensation Plan For For Management
3 Amend Omnibus Stock Plan For For Management
4 Ratify Auditors For For Management
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KILROY REALTY CORP.
Ticker: KRC Security ID: 49427F108
Meeting Date: MAY 18, 2004 Meeting Type: Annual
Record Date: MAR 16, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director John R. D'Eathe For Withhold Management
1.2 Elect Director William P. Dickey For Withhold Management
1.3 Elect Director E. F. Brennan, Ph.D. For For Management
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KIMCO REALTY CORP.
Ticker: KIM Security ID: 49446R109
Meeting Date: MAY 20, 2004 Meeting Type: Annual
Record Date: MAR 22, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Martin Kimmel For For Management
1.2 Elect Director Milton Cooper For For Management
1.3 Elect Director Richard G. Dooley For Withhold Management
1.4 Elect Director Michael Flynn For For Management
1.5 Elect Director Joe Grills For For Management
1.6 Elect Director David Henry For For Management
1.7 Elect Director F. Patrick Hughes For For Management
1.8 Elect Director Frank Lourenso For Withhold Management
1.9 Elect Director Richard Saltzman For For Management
2 Amend Stock Option Plan For For Management
3 Separate Chairman and CEO Positions Against Against Shareholder
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LA QUINTA CORP.
Ticker: LQI Security ID: 50419U202
Meeting Date: MAY 20, 2004 Meeting Type: Annual
Record Date: MAR 24, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director William G. Byrnes For For Management
1.2 Elect Director Francis W. Cash For For Management
2 Ratify Auditors For For Management
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LENNAR CORP.
Ticker: LEN Security ID: 526057104
Meeting Date: MAR 30, 2004 Meeting Type: Annual
Record Date: FEB 5, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Irving Bolotin For Withhold Management
1.2 Elect Director R. Kirk Landon For Withhold Management
1.3 Elect Director Donna E. Shalala For For Management
2 Other Business For Against Management
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LEXINGTON CORPORATE PROPERTIES TRUST
Ticker: LXP Security ID: 529043101
Meeting Date: MAY 26, 2004 Meeting Type: Annual
Record Date: APR 12, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Trustee E. Robert Roskind For For Management
1.2 Elect Trustee Richard J. Rouse For For Management
1.3 Elect Trustee T. Wilson Eglin For For Management
1.4 Elect Trustee Geoffrey Dohrmann For For Management
1.5 Elect Trustee Carl D. Glickman For For Management
1.6 Elect Trustee James Grosfeld For For Management
1.7 Elect Trustee Kevin W. Lynch For For Management
1.8 Elect Trustee Stanley R. Perla For For Management
1.9 Elect Trustee Seth M. Zachary For Withhold Management
2 Other Business For Against Management
- --------------------------------------------------------------------------------
LIBERTY PROPERTY TRUST
Ticker: LRY Security ID: 531172104
Meeting Date: MAY 5, 2004 Meeting Type: Annual
Record Date: MAR 7, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Trustee M. Leanne Lachman For Withhold Management
1.2 Elect Trustee J. Anthony Hayden For For Management
2 Amend Stock Ownership Limitations For For Management
3 Amend Articles For Against Management
4 Amend Omnibus Stock Plan For For Management
- --------------------------------------------------------------------------------
LNR PROPERTY CORP.
Ticker: LNR Security ID: 501940100
Meeting Date: APR 21, 2004 Meeting Type: Annual
Record Date: FEB 27, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Brian L. Bilzin For Withhold Management
1.2 Elect Director Connie Mack For For Management
1.3 Elect Director James M. Carr For For Management
2 Amend Executive Incentive Bonus Plan For Against Management
3 Approve Deferred Compensation Plan For For Management
- --------------------------------------------------------------------------------
M.D.C. HOLDINGS, INC.
Ticker: MDC Security ID: 552676108
Meeting Date: APR 26, 2004 Meeting Type: Annual
Record Date: FEB 27, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Herbert T. Buchwald For For Management
1.2 Elect Director Larry A. Mizel For Withhold Management
2 Prepare Sustainability Report Against Against Shareholder
- --------------------------------------------------------------------------------
MACERICH CO., THE
Ticker: MAC Security ID: 554382101
Meeting Date: MAY 28, 2004 Meeting Type: Annual
Record Date: MAR 17, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Edward C. Coppola For Withhold Management
1.2 Elect Director Fred S. Hubbell For For Management
1.3 Elect Director Diana M. Laing For Withhold Management
1.4 Elect Director Dr. William P. Sexton For Withhold Management
2 Ratify Auditors For Against Management
- --------------------------------------------------------------------------------
MANUFACTURED HOME COMMUNITIES, INC.
Ticker: MHC Security ID: 564682102
Meeting Date: MAY 4, 2004 Meeting Type: Annual
Record Date: MAR 12, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Donald S. Chisholm For For Management
1.2 Elect Director Thomas E. Dobrowski For Withhold Management
1.3 Elect Director Thomas P. Heneghan For For Management
1.4 Elect Director Joe B. McAdams For For Management
1.5 Elect Director Sheli Z. Rosenberg For Withhold Management
1.6 Elect Director Howard Walker For For Management
1.7 Elect Director Gary L. Waterman For For Management
1.8 Elect Director Samuel Zell For For Management
- --------------------------------------------------------------------------------
MERISTAR HOSPITALITY CORPORATION
Ticker: MHX Security ID: 58984Y103
Meeting Date: MAY 26, 2004 Meeting Type: Annual
Record Date: MAR 31, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director D. Ellen Shuman For For Management
1.2 Elect Director Paul W. Whetsell For For Management
1.3 Elect Director James R. Worms For For Management
1.4 Elect Director H. Cabot Lodge III For Withhold Management
2 Ratify Auditors For For Management
- --------------------------------------------------------------------------------
MERITAGE CORPORATION
Ticker: MTH Security ID: 59001A102
Meeting Date: MAY 12, 2004 Meeting Type: Annual
Record Date: MAR 31, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Steven J. Hilton For Withhold Management
1.2 Elect Director Raymond Oppel For Withhold Management
1.3 Elect Director William G. Campbell For Withhold Management
2 Amend Stock Option Plan For For Management
- --------------------------------------------------------------------------------
NORTHSTAR CAPITAL INVESTMENT CORP.
Ticker: Security ID: 66704F106
Meeting Date: OCT 15, 2003 Meeting Type: Annual
Record Date: AUG 14, 2003
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Richard J. McCready For Withhold Management
1.2 Elect Director Martin L. Edelman For For Management
2 Ratify Auditors For For Management
- --------------------------------------------------------------------------------
NVR, INC.
Ticker: NVR Security ID: 62944T105
Meeting Date: MAY 3, 2004 Meeting Type: Annual
Record Date: MAR 1, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Manuel H. Johnson For For Management
1.2 Elect Director David A. Preiser For For Management
1.3 Elect Director John M. Toups For For Management
2 Ratify Auditors For For Management
3 Establish Range For Board Size For For Management
4 Amend Director Qualifications For For Management
5 Amend Bylaws For For Management
6 Establish Range For Board Size For For Management
7 Amend Bylaws For For Management
8 Prepare Sustainability Report Against Against Shareholder
- --------------------------------------------------------------------------------
PARKWAY PROPERTIES, INC.
Ticker: PKY Security ID: 70159Q104
Meeting Date: MAY 6, 2004 Meeting Type: Annual
Record Date: MAR 23, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Daniel P. Friedman For For Management
1.2 Elect Director Roger P. Friou For Withhold Management
1.3 Elect Director Martin L. Garcia For For Management
1.4 Elect Director Matthew W. Kaplan For Withhold Management
1.5 Elect Director Michael J. Lipsey For For Management
1.6 Elect Director Joe F. Lynch For For Management
1.7 Elect Director Steven G. Rogers For For Management
1.8 Elect Director Leland R. Speed For For Management
1.9 Elect Director Lenore M. Sullivan For For Management
2 Amend Non-Employee Director Omnibus Stock For For Management
Plan
- --------------------------------------------------------------------------------
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST
Ticker: PEI Security ID: 709102107
Meeting Date: JUN 3, 2004 Meeting Type: Annual
Record Date: APR 20, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Trustee George F. Rubin For Withhold Management
1.2 Elect Trustee Rosemarie B. Greco For For Management
1.3 Elect Trustee Ira M. Lubert For Withhold Management
1.4 Elect Trustee Edward A. Glickman For Withhold Management
1.5 Elect Trustee Mark E. Pasquerilla For Withhold Management
1.6 Elect Trustee Donald F. Mazziotti For For Management
2 Ratify Auditors For For Management
- --------------------------------------------------------------------------------
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST
Ticker: PEI Security ID: 709102107
Meeting Date: NOV 11, 2003 Meeting Type: Special
Record Date: SEP 25, 2003
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Trustee John J. Roberts For For Management
2 Approve Merger Agreement For For Management
3 Approve Omnibus Stock Plan For For Management
- --------------------------------------------------------------------------------
PROLOGIS
Ticker: PLD Security ID: 743410102
Meeting Date: MAY 18, 2004 Meeting Type: Annual
Record Date: MAR 17, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Stephen L. Feinberg For For Management
1.2 Elect Director Donald P. Jacobs For For Management
1.3 Elect Director D. Michael Steuert For For Management
1.4 Elect Director J. Andre Teixeira For For Management
2 Approve Non-Employee Director Omnibus For Against Management
Stock Plan
3 Ratify Auditors For For Management
- --------------------------------------------------------------------------------
PS BUSINESS PARKS, INC.
Ticker: PSB Security ID: 69360J107
Meeting Date: MAY 4, 2004 Meeting Type: Annual
Record Date: MAR 26, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Ronald L. Havner, Jr. For For Management
1.2 Elect Director Joseph D. Russell, Jr. For For Management
1.3 Elect Director Harvey Lenkin For Withhold Management
1.4 Elect Director Vern O. Curtis For For Management
1.5 Elect Director Arthur M. Friedman For For Management
1.6 Elect Director James H. Kropp For For Management
1.7 Elect Director Alan K. Pribble For For Management
1.8 Elect Director Jack D. Steele For For Management
2 Approval of the Retirement Plan for For For Management
Non-Employee Directors
3 Ratify Auditors For For Management
- --------------------------------------------------------------------------------
PUBLIC STORAGE, INC.
Ticker: PSA Security ID: 74460D109
Meeting Date: MAY 6, 2004 Meeting Type: Annual
Record Date: MAR 26, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director B. Wayne Hughes For For Management
1.2 Elect Director Ronald L. Havner, Jr. For For Management
1.3 Elect Director Harvey Lenkin For For Management
1.4 Elect Director Robert J. Abernethy For Withhold Management
1.5 Elect Director Dann V. Angeloff For Withhold Management
1.6 Elect Director William C. Baker For For Management
1.7 Elect Director John T. Evans For For Management
1.8 Elect Director Uri P. Harkham For For Management
1.9 Elect Director B. Wayne Hughes, Jr. For Withhold Management
1.10 Elect Director Daniel C. Staton For For Management
2 Ratify Auditors For Against Management
- --------------------------------------------------------------------------------
RAMCO-GERSHENSON PROPERTIES TRUST
Ticker: RPT Security ID: 751452202
Meeting Date: JUN 10, 2004 Meeting Type: Annual
Record Date: APR 12, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Trustee Joel D. Gershenson For For Management
1.2 Elect Trustee Dennis E. Gershenson For For Management
1.3 Elect Trustee Robert A. Meister For Withhold Management
2 Ratify Auditors For For Management
- --------------------------------------------------------------------------------
RECKSON ASSOCIATES REALTY CORP.
Ticker: RA Security ID: 75621K106
Meeting Date: JUN 2, 2004 Meeting Type: Annual
Record Date: MAR 22, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Declassify the Board of Directors For For Management
2 Amend Stock Ownership Limitations For For Management
3.1 Elect Director Peter Quick For For Management
3.2 Elect Director Stanley Steinberg For For Management
3.3 Elect Director John Ruffle For For Management
3.4 Elect Director Elizabeth McCaul For For Management
3.5 Elect Director Douglas Crocker II For For Management
3.6 Elect Director Scott H. Rechler For For Management
3.7 Elect Director Donald J. Rechler For For Management
3.8 Elect Director Lewis S. Ranieri For Withhold Management
3.9 Elect Director Ronald H. Menaker For For Management
4 Ratify Auditors For For Management
- --------------------------------------------------------------------------------
REGENCY CENTERS CORP.
Ticker: REG Security ID: 758849103
Meeting Date: APR 28, 2004 Meeting Type: Annual
Record Date: MAR 22, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Martin E. Stein, Jr. For Withhold Management
1.2 Elect Director Raymond L. Bank For For Management
1.3 Elect Director A. R. Carpenter For For Management
1.4 Elect Director J. Dix Druce, Jr. For Withhold Management
2 Declassify the Board of Directors For For Management
3 Increase Authorized Preferred Stock For For Management
4 Amend Stock Ownership Limitations For For Management
- --------------------------------------------------------------------------------
ROUSE CO., THE
Ticker: RSE Security ID: 779273101
Meeting Date: MAY 6, 2004 Meeting Type: Annual
Record Date: MAR 10, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Jeremiah E. Casey For For Management
1.2 Elect Director Roger W. Schipke For Withhold Management
2 Increase Authorized Common Stock For For Management
- --------------------------------------------------------------------------------
RYLAND GROUP, INC., THE
Ticker: RYL Security ID: 783764103
Meeting Date: APR 21, 2004 Meeting Type: Annual
Record Date: FEB 9, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director R. Chad Dreier For For Management
1.2 Elect Director Daniel T. Bane For Withhold Management
1.3 Elect Director Leslie M. Frecon For Withhold Management
1.4 Elect Director Ronald A. Hernandez For Withhold Management
1.5 Elect Director William L. Jews For For Management
1.6 Elect Director Ned Mansour For Withhold Management
1.7 Elect Director Robert E. Mellor For For Management
1.8 Elect Director Norman J. Metcalfe For For Management
1.9 Elect Director Charlotte St. Martin For For Management
1.10 Elect Director Paul J. Varello For Withhold Management
1.11 Elect Director John O. Wilson For Withhold Management
2 Approve Non-Employee Director Stock For Against Management
Option Plan
3 Prepare Sustainability Report Against Against Shareholder
- --------------------------------------------------------------------------------
SIMON PROPERTY GROUP, INC.
Ticker: SPG Security ID: 828806109
Meeting Date: MAY 5, 2004 Meeting Type: Annual
Record Date: MAR 8, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Birch Bayh For For Management
1.2 Elect Director Melvyn E. Bergstein For For Management
1.3 Elect Director Linda Walker Bynoe For For Management
1.4 Elect Director Karen N. Horn For For Management
1.5 Elect Director G. William Miller For For Management
1.6 Elect Director J. Albert Smith, Jr. For For Management
1.7 Elect Director Pieter S. van den Berg For For Management
2 Ratify Auditors For For Management
3 Separate Chairman and CEO Positions Against For Shareholder
- --------------------------------------------------------------------------------
SL GREEN REALTY CORP.
Ticker: SLG Security ID: 78440X101
Meeting Date: MAY 19, 2004 Meeting Type: Annual
Record Date: MAR 31, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Edwin Thomas Burton, III For For Management
2 Ratify Auditors For For Management
- --------------------------------------------------------------------------------
ST. JOE COMPANY, THE
Ticker: JOE Security ID: 790148100
Meeting Date: MAY 18, 2004 Meeting Type: Annual
Record Date: MAR 31, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Michael L. Ainslie For For Management
1.2 Elect Director Hugh M. Durden For Withhold Management
1.3 Elect Director Adam W. Herbert, Jr. For For Management
1.4 Elect Director Delores Kesler For For Management
1.5 Elect Director John S. Lord For For Management
1.6 Elect Director Walter L. Revell For For Management
1.7 Elect Director Peter S. Rummell For For Management
1.8 Elect Director Winfred L. Thornton For For Management
1.9 Elect Director William H. Walton, III For For Management
2 Eliminate Preemptive Rights For For Management
3 Ratify Auditors For For Management
- --------------------------------------------------------------------------------
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
Ticker: HOT Security ID: 85590A203
Meeting Date: MAY 7, 2004 Meeting Type: Annual
Record Date: MAR 19, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Eric Hippeau For Withhold Management
1.2 Elect Director Daniel Yih For Withhold Management
1.3 Elect Director Kneeland Youngblood For Withhold Management
2 Ratify Auditors For For Management
3 Approve Omnibus Stock Plan For Against Management
4 Declassify the Board of Directors For For Management
- --------------------------------------------------------------------------------
SUN COMMUNITIES, INC.
Ticker: SUI Security ID: 866674104
Meeting Date: MAY 20, 2004 Meeting Type: Annual
Record Date: APR 9, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Clunet R. Lewis For Withhold Management
1.2 Elect Director Arthur A. Weiss For For Management
2 Approve Non-Employee Director Stock For For Management
Option Plan
- --------------------------------------------------------------------------------
TANGER FACTORY OUTLET CENTERS, INC.
Ticker: SKT Security ID: 875465106
Meeting Date: MAY 14, 2004 Meeting Type: Annual
Record Date: MAR 31, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Stanley K. Tanger For For Management
1.2 Elect Director Steven B. Tanger For Withhold Management
1.3 Elect Director Jack Africk For Withhold Management
1.4 Elect Director William G. Benton For For Management
1.5 Elect Director Thomas E. Robinson For For Management
2 Amend Stock Option Plan For For Management
3 Amend Stock Option Plan For For Management
- --------------------------------------------------------------------------------
TAUBMAN CENTERS, INC.
Ticker: TCO Security ID: 876664103
Meeting Date: DEC 19, 2003 Meeting Type: Annual
Record Date: NOV 17, 2003
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Graham T. Allison For Withhold Management
1.2 Elect Director Peter Karmanos, Jr. For Withhold Management
1.3 Elect Director William S. Taubman For Withhold Management
2 Ratify Auditors For For Management
- --------------------------------------------------------------------------------
TAUBMAN CENTERS, INC.
Ticker: TCO Security ID: 876664103
Meeting Date: MAY 18, 2004 Meeting Type: Annual
Record Date: MAR 31, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Allan J. Bloostein For Withhold Management
1.2 Elect Director Jerome A. Chazen For Withhold Management
1.3 Elect Director Craig Hatkoff For For Management
2 Ratify Auditors For For Management
- --------------------------------------------------------------------------------
TRIZEC PROPERTIES, INC.
Ticker: TRZ Security ID: 89687P107
Meeting Date: MAY 20, 2004 Meeting Type: Annual
Record Date: MAR 25, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Peter Munk For For Management
1.2 Elect Director Timothy Callahan For For Management
1.3 Elect Director L. Jay Cross For For Management
1.4 Elect Director Brian Mulroney For For Management
1.5 Elect Director James O'Connor For For Management
1.6 Elect Director Glenn Rufrano For For Management
1.7 Elect Director Richard Thomson For For Management
1.8 Elect Director Polyvios Vintiadis For For Management
1.9 Elect Director Stephen Volk For For Management
1.10 Elect Director Casey Wold For For Management
2 Ratify Auditors For For Management
3 Amend Articles For For Management
- --------------------------------------------------------------------------------
U.S. RESTAURANT PROPERTIES, INC.
Ticker: USV Security ID: 902971100
Meeting Date: MAY 19, 2004 Meeting Type: Annual
Record Date: APR 8, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director David M. West For Withhold Management
1.2 Elect Director Len W. Allen, Jr. For Withhold Management
1.3 Elect Director G. Steven Dawson For For Management
1.4 Elect Director John C. Deterding For For Management
1.5 Elect Director Robert Gidel For For Management
1.6 Elect Director James H. Kropp For Withhold Management
1.7 Elect Director Robert J. Stetson For For Management
2 Ratify Auditors For For Management
- --------------------------------------------------------------------------------
UNITED DOMINION REALTY TRUST, INC.
Ticker: UDR Security ID: 910197102
Meeting Date: MAY 4, 2004 Meeting Type: Annual
Record Date: MAR 1, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Eric J. Foss For For Management
1.2 Elect Director Robert P. Freeman For For Management
1.3 Elect Director Jon A. Grove For For Management
1.4 Elect Director James D. Klingbeil For For Management
1.5 Elect Director Robert C. Larson For For Management
1.6 Elect Director Thomas R. Oliver For For Management
1.7 Elect Director Lynne B. Sagalyn For For Management
1.8 Elect Director Mark J. Sandler For For Management
1.9 Elect Director Robert W. Scharar For For Management
1.10 Elect Director Thomas W. Toomey For For Management
2 Ratify Auditors For For Management
- --------------------------------------------------------------------------------
VENTAS, INC.
Ticker: VTR Security ID: 92276F100
Meeting Date: MAY 21, 2004 Meeting Type: Annual
Record Date: MAR 24, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Jay M. Gellert For For Management
1.2 Elect Director Ronald G. Geary For Withhold Management
1.3 Elect Director Douglas Crocker II For For Management
1.4 Elect Director Sheli Z. Rosenberg For For Management
1.5 Elect Director Debra A. Cafaro For For Management
1.6 Elect Director Thomas C. Theobald For For Management
2 Ratify Auditors For For Management
3 Amend Non-Employee Director Stock Option For For Management
Plan
- --------------------------------------------------------------------------------
VORNADO REALTY TRUST
Ticker: VNO Security ID: 929042109
Meeting Date: MAY 27, 2004 Meeting Type: Annual
Record Date: APR 16, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Trustee Robert P. Kogod For Withhold Management
1.2 Elect Trustee David Mandelbaum For For Management
1.3 Elect Trustee Richard R. West For Withhold Management
2 Ratify Auditors For For Management
- --------------------------------------------------------------------------------
WASHINGTON REAL ESTATE INVESTMENT TRUST
Ticker: WRE Security ID: 939653101
Meeting Date: MAY 20, 2004 Meeting Type: Annual
Record Date: MAR 17, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Trustee Edmund B. Cronin, Jr. For For Management
1.2 Elect Trustee John P. McDaniel For Withhold Management
1.3 Elect Trustee David M. Osnos For Withhold Management
2 Authorize New Class of Preferred Stock For For Management
- --------------------------------------------------------------------------------
WINDROSE MEDICAL PROPERTIES TRUST
Ticker: WRS Security ID: 973491103
Meeting Date: APR 21, 2004 Meeting Type: Annual
Record Date: MAR 25, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Stephen Goldsmith For Withhold Management
1.2 Elect Director Charles E. Lanham For Withhold Management
1.3 Elect Director Jean Wojtowicz For For Management
2 Approve Employee Stock Purchase Plan For For Management
3 Ratify Auditors For For Management
SIGNATURES
Pursuant to the requirements of the Investment Company Act of 1940, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
(Registrant) FRANKLIN REAL ESTATE SECURITIES TRUST
-------------------------------------------------------------------
By:(Signature and Title)*/s/JIMMY D. GAMBILL
------------------------------------------------------
Jimmy D. Gambill,
Chief Executive Officer - Finance and Administration
Date August 25, 2004
-------------------
*Print the name and title of each signing officer under his or her signature.