CAPITACOMMERCIAL TRUST, kim eng initial coverage BUY with target price $2.46 CDL HOSPITALITY TRUST, daiwa initial coverage OUTPERFORM with target price $2.07 CHINA SKY, dbs maintain BUY with target price $1.70 EZRA, cl downgrade to UNDERPERFORM with target price $2.90 FERROCHINA, cimb maintain OUTPERFORM with target price $2

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REIT-Treasury Yield Spreads (1971 to-date) Richard Shaw Writes: We advised investors generally to avoid US equity REITs in January 2007 ... . As of the end of March 2008, according to the National Association of Real Estate Investment Trusts