With VNQ likely to suffer this summer, not only from the usual summer slump or drift in U.S. stock prices, but also from increasing competition from overseas REIT investments, how about a safer and better alternative?
Please see my post on Yahoo Finance's APRO website of July 3. APRO is to be bought late in the third quarter by Sentinel. Sentinel has a good record, at least from what I could see on the Internet, of closing deals without lots of angst and unwinding. Assuming the deal goes forward, on an annualized basis you'll make well more than 15% at APRO's current share price.
In addition, in my humble opinion APRO is attractive with its yield higher than VNQ's and its reduced vulnerability to foreign REIT competition (APRO is almost entirely apartments, which don't tend to be the subject of foreign REITS). Again, however, the more obvious powerful APRO advantage is the forthcoming buyout.