A real estate investment trust (REIT) that can be purchased and sold on an exchange through stock brokers and other market intermediaries. Effectively, this implies trading the common stock, debt security, or preferred stock of a publicly traded REIT. Publicly traded REITs are registered with the exchange commission.

The existence of an active market for publicly traded REITs can provide for relatively lower prices and commissions. Investors can also enjoy more flexibility as to their holdings in terms of tradability, ability to reallocate and rebalance virtually without frictions or restrictions.

Not publicly -traded REITs are either private REITS or public non-listed REITs (non-traded REITs).