You must know REIT's pay very high interest rates. Any price appreciation is good but is not the main reason to own them. If you want more appreciation, REIT's is not the way to go. Safety and high yield is the reason to own REIT's.
Yes, they pay high dividends but still underperform. As to safety, there will be none once short term rates begin to rise. That is one reason the pps is capped. Another reason is the amount and frequency of secondary offerings.