The main advantage is that sellers who accept payment in the form of REIT stock do not have to pay any taxes until they sell the shares.

Q. What is the case for buying REIT stocks?

Some analysts say REIT stocks will come to be regarded more like utility stocks, growing slowly and throwing off ample dividends.

Ms. Rowan suggested REIT stocks as defensive purchases, though she did not specify her choices.

Perhaps most important, given the big run-up of REIT stocks last year, investors should watch out for overvalued companies.

That change has paved the way for investment firms to try to create mutual funds made up of REIT stocks approved by Shariah scholars.

"REIT stock is not cash anymore."

Their buying spree ended in April 1998, seven months after REIT stocks tumbled.

Indexes of REIT stocks are down for the year, while the broader market has soared.

We've been going through a very strong bull market, and the REIT stocks have not been in favor.