Financial Services >> Sector Roundtables >> June 21, 1999

Roundtable Forum: Real Estate Investment Trusts

STEVEN HASH is a Managing Director of Lehman Brothers and Senior Equity Analyst for the Real Estate Investment Trust industry. Previously, he was associated with Oppenheimer and Arthur Andersen & Co. A Certified Public Accountant, he is a graduate of Loyola University and received his MBA from New York University. Mr. Hash is a member of the National Association of Real Estate Investment Trusts and is a past President of the Real Estate Analyst Group. Profile
SAMUEL A. LIEBER is CEO/Portfolio Manager at Alpine Management & Research, LLC. Previously, he was associated with The Evergreen Funds as a Real Estate Portfolio Manager. Before that he was with Whitbred-Nolan, Inc., and with The Project for Public Spaces as a Noyes Fellow. Mr. Lieber's academic background includes Wesleyan University, New York University Graduate School of Business, and NYU Real Estate Institute. He is a member of NYSSA, NAREIT, the International Council of Shopping Centers and the Urban Land Institute. Profile
LAWRENCE RAIMAN is a Vice President at Donaldson, Lufkin & Jenrette. Previously, he was associated with PaineWebber. He received his Bachelor's degree from Pennsylvania State University and his MBA from Columbia Business School. Mr. Raiman is a member of the National Association of Real Estate Investment Trusts. Profile
DAVID M. SHERMAN is a Managing Director at Salomon Smith Barney. Previously, he was associated with Harlan Company, First Boston and PaineWebber. In addition, he is an adjunct lecturer at New York University and a guest lecturer at Columbia University. Mr. Sherman received his Bachelor's degree from Brown University and his MBA from Columbia University. Profile
DANIEL G. PINE is a Senior Vice President at Alliance Capital Management. Previously, he was associated with Desai Capital Management. A Chartered Financial Analyst, he is a graduate of the University of Pennsylvania. Profile
TWST: Steve, was there any fundamental change in the underlying real

estate markets that prompted the improvement in REIT stock prices in

April and May? Or, had the strong fundamentals and cheap