"Not all REITs are created equal," notes Richard Lehmann, who looks at the Neuberger Berman Real Estate Income Trust (NYSE: NRO) in his The ETF Trader.

"The decline in Real Estate Investment Trusts (REITs) has been sharp, reacting to the mortgage crisis and the associated financial meltdown. However, here are sectors of the real estate market that have not been affected by the mortgage crisis.

"Such sectors like health care and multi-family projects and self-storage buildings are relatively less sensitive to the economic cycle. In addition, these sectors may have an inverse benefit from foreclosures such as rental properties and self-storage.

"The Neuberger Berman Real Estate Securities Income Trust fund invests in REITs in defensive areas such as health care and multi-family projects. Common stocks of REITs are trading at a discount to the properties they own, a reversal of premiums evident in last year.

"This closed end fund trades at 9% discount to its net asset value. In essence, a shareholder gets a portfolio of REITs that trade at a discount to their real estate value at another discount. In addition to the double discount, the fund yields an astounding 24.89% paid monthly.

"The fund trades at $7.38 versus its net asset value of $8.11. Should the real estate market see a decline, fund holders are doubly protected by the high yield and double discount. The fund's top holdings are Ventas Inc. (5.7%), Omega Healthcare Investors (4.8%) and Nationwide Health Properties (4.8%)."

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