<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
REAL ESTATE SECURITIES TRUST APRIL 30, 2000 ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 011
<NAME> FRANKLIN REAL ESTATE SECURITIES FUND - CLASS A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-2000
<PERIOD-END> APR-30-2000
<INVESTMENTS-AT-COST> 452,218,605
<INVESTMENTS-AT-VALUE> 420,564,948
<RECEIVABLES> 1,475,902
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 422,040,850
<PAYABLE-FOR-SECURITIES> 1,380,227
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,659,206
<TOTAL-LIABILITIES> 3,039,433
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 470,856,936
<SHARES-COMMON-STOCK> 23,979,878
<SHARES-COMMON-PRIOR> 18,339,216
<ACCUMULATED-NII-CURRENT> 4,183,596
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (24,385,095)
<ACCUM-APPREC-OR-DEPREC> (31,654,019)
<NET-ASSETS> 419,001,418
<DIVIDEND-INCOME> 22,774,333
<INTEREST-INCOME> 445,861
<OTHER-INCOME> 0
<EXPENSES-NET> (4,626,729)
<NET-INVESTMENT-INCOME> 18,593,465
<REALIZED-GAINS-CURRENT> (24,176,738)
<APPREC-INCREASE-CURRENT> (7,310,142)
<NET-CHANGE-FROM-OPS> (12,893,415)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (14,853,196)
<DISTRIBUTIONS-OF-GAINS> (1,586,241)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 16,329,004
<NUMBER-OF-SHARES-REDEEMED> (11,936,129)
<SHARES-REINVESTED> 1,247,787
<NET-CHANGE-IN-ASSETS> 31,143,898
<ACCUMULATED-NII-PRIOR> 4,737,048
<ACCUMULATED-GAINS-PRIOR> 1,904,716
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (1,972,915)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (4,626,729)
<AVERAGE-NET-ASSETS> 391,562,675
<PER-SHARE-NAV-BEGIN> 15.180
<PER-SHARE-NII> .670 <F1>
<PER-SHARE-GAIN-APPREC> (1.230)
<PER-SHARE-DIVIDEND> (.680)
<PER-SHARE-DISTRIBUTIONS> (.070)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 13.870
<EXPENSE-RATIO> 1.020
<FN>
<F1> BASED ON AVERAGE SHARES OUTSTANDING.
</FN>
</TABLE>
