Land & Buildings Investment Management focuses on finding and unlocking value from real estate owned by publicly listed companies. Their latest Form ADV shows $577 million in AUM as of December 31, 2018, and their latest 13F shows $404 million in securities. They invest mostly in the US, but also take positions in Europe and Canada. Land & Buildings is most well known for REIT activism, although they ran a regular real estate focused fund for several years before switching the emphasis to activism. Jonathan Litt, the founder of Land & Buildings has been an