Compared to the money coming out of most of the market, the money going into REITs has been small. Since these stocks have such a small capitalization, even this small inflow of cash has caused their prices to firm.
I think the real price appreciation is yet to come, when retiring boomers look for an area to invest that will give them a decent cash flow.
Apartment REITs are the most stable, since people have to have a place to live. Although TCR is not a "blue chip" apartment REIT, it still represents a good value since it is paying an almost 50% greater return than the first tier apartment REITs.
The dividend appears to be safe, rising at a moderate pace, and even has some tax benefit.
As always, diversification is important, but TCR is a "cornerstone of my REIT portfolio.
The only REIT I have that is holding up. About a month ago bought 200 shares each of ENN KPA WXH (hotel REITS). They're getting clobbered, down 30%+. TCR and a Utility I have (PEG) are the only things I have not getting clobbered. Tony