Paul Adornato and Richard Anderson, REIT analysts with BMO Capital Markets, said what they saw at this year's REITWorld 2009 was a much brighter picture of the REIT industry than the previous year's meeting offered. Adornato said it became clear the "wave of acquisitions" from distressed sellers anticipated by REITs will be smaller and take place over a longer period of time than the industry expected initially. Anderson said he was enjoying the opportunity to be a "fundamental analyst" again. Last year, the REIT industry was almost entirely driven by external factors, he said.

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