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Do you invest in the real estate market with REITs? Today we focused on REITs forecasted for growth over the next year, and took only on those stocks already showing positive upward momentum. We came up with a pretty interesting list.

EPS growth (earnings per share growth) illustrates the growth of earnings per share over time. The 1-Year Expected EPS Growth Rate is an annual growth estimate, where the growth projections are made by analysts, the company or other credible sources.

We first looked for REIT stocks. We then looked for businesses that are considered high-growth, with 1-year projected EPS growth above 25%. We then looked for companies that are currently trading at no less than 20% below their 52-week highs. Why you wonder? The number shows these firms are doing something right consistently. The real question is "as an investor do you think the firms listed here have room to go even higher?". We did not screen out any market caps.

Do you think these stocks have strong operations? Use our screened list as a starting point for your own analysis.

1) Whitestone REIT (NYSE:WSR)

Sector:Financial
Industry:REIT - Diversified
Market Cap:$155.77M
Beta:-

Whitestone REIT has a 1-Year Projected Earnings Per Share Growth Rate of 46.43%, and trading below it's 52 Week High by -5.33%. The short interest was 2.41% as of 06/15/2012. Whitestone REIT, a real estate investment trust (REIT), engages in the investment and operation of retail, office, and warehouse properties located in the Houston, Dallas, San Antonio, and Phoenix metropolitan areas. As of March 31, 2008, it owned and operated 37 properties. The company has elected to be treated as a REIT under the Internal Revenue Code of 1986.

2) Ares Commercial Real Estate Corp. (NYSE:ACRE)

Sector:Financial
Industry:REIT - Diversified
Market Cap:$161.70M
Beta:-

Ares Commercial Real Estate Corp. has a 1-Year Projected Earnings Per Share Growth Rate of 102.20%, and trading below it's 52 Week High by -3.15%. The short interest was 0.18% as of 06/15/2012. Ares Commercial Real Estate Corp. is a principal investment firm and is based in Chicago, Illinois.

3) Douglas Emmett Inc (NYSE:DEI)

Sector:Financial
Industry:REIT - Diversified
Market Cap:$3.09B
Beta:1.60

Douglas Emmett Inc has a 1-Year Projected Earnings Per Share Growth Rate of 50.00%, and trading below it's 52 Week High by -6.87%. The short interest was 7.68% as of 06/15/2012. Douglas Emmett, Inc., a real estate investment trust, owns and operates office and multifamily properties in California and Hawaii. As of December 31, 2007, the company's office portfolio consisted of 48 properties and multifamily portfolio consisted of 9 properties.

*Company profiles were sourced from Finviz. Financial data was sourced from Finviz and Google Finance.

Source: 3 High Growth REITs Trading Near Their 52-Week Highs