Zacks.com, the online unit of Zacks Investment Research Inc., Chicago, has identified Colonial Properties Trust, a real estate investment trust, as one of the stocks listed on a Zacks "profit track" that has outperformed the S&P 500 for the past four years.The REIT, which appears on the Zacks High Rank Value Profit Track, "has an appealing valuation, as evidenced by its price-to-earnings multiple of 11.52 and price-to-book multiple of 1.22," Zacks reported. The company posted third-quarter earnings of $0.93 per share, beating consensus estimates by 3%, according to Zacks. The High Rank Value Profit Track generated a 28.3% return in 2004, Zacks said. The criteria for inclusion are a P/E ratio below 15, a P/B ratio below 3, and a Zacks rank of #1 or #2. Zacks can be found online at http://www.zacks.com.

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