A Real Estate Investment Trust (REIT) is a company that owns and, in many cases, operates income-producing real estate such as apartments, shopping centres, offices, hotels and warehouses. Some REITs also engage in financing real estate. The shares of an REIT are freely traded, usually on a major stock exchange. (Source: National Association of Real Estate Investment Trusts). REITs are required to comply with applicable securities legislation and stock exchange rules.