They're supposed to be like a pass through vehicle -they're owning real estate on your behalf, so they shouldn't be retaining earnings.

房地产投资信托基金应是投资中介,它代表你持有房地产,所以不应该留存利润

耶鲁公开课 - 金融市场课程节选

It arose from the beginnings of the housing bubble -the real estate bubble that we're now in.

而是源自房地产泡沫的初现,也就是如今的房地产泡沫

耶鲁公开课 - 金融市场课程节选

Wal-Mart, after the 1960 Act of Congress, would say, hey we're a real estate investment trust, we own real estate--all these stores -but that's not what the intent of this bill was.

国会通过这部法案后,沃尔玛说我也是房地产投资信托基金,我也持有房地产,所有店铺都是房地产,但这并不是这部法案的本意

耶鲁公开课 - 金融市场课程节选