SNL Financial released data detailing which investment banks were 2006’s top underwriters in REIT and REOC offered securities. SNL’s chart reveals the top five firms using three metrics—common stock, preferred equity and senior debentures. SNL Research Analyst Chris Heid says rankings were drawn by the value of the underwriters’ portion of the deal, as opposed to the deal’s total value.

Standing out in the findings is Merrill Lynch & Co., Inc, which makes an appearance as one of the top five underwriters in all three categories. Data were determined from a list of 37 companies in the common stock category, 28 preferred equity underwriters and 42 firms for senior debentures.

SNL’s Top 2006 Underwriters* REIT/REOC Offered Securities Rank Adviser Number of Offerings    Offering Amount ($M) Common Stock 1 Merrill Lynch & Co., Inc.   28   1,896.0    2 JPMorgan Securities, Inc.   13   1,821.6   3 Lehman Brothers Inc.   5   1,580.8   4 Citigroup Global Markets, Inc.   19   1,289.8   5 Deutsche Bank Securities, Inc.   10   1,260.9   Preferred Equity 1 Wachovia Securities, LLC   16   407.5   2 UBS Investment Bank   8   332.8   3 RBC Capital Markets Corporation   9   327.3   4 Merrill Lynch & Co., Inc.   10   327.0   5 Banc of America Securities, LLC   3   257.5   Senior Debentures 1 Banc of America Securities, LLC   27   2,960.8   2 JPMorgan Securities, Inc.   32   2,182.3   3 Wachovia Securities, LLC   29   1,804.7   4 Merrill Lynch & Co., Inc.   21   1,666.4   5 Citigroup Global Markets, Inc.   23   1,504.9   *Firm participated as a Book, Lead or Co-Manager. Source: SNL Financial