Which of the following best describes a Publicly Traded REIT?

A Publicly Traded REIT is characterized by its ability to have shares bought and sold on stock exchanges, similar to how stocks are traded. This means that investors can easily buy and sell shares of the REIT throughout the trading day, making it accessible and liquid compared to other real estate investments. This feature allows investors to participate in the real estate market without directly buying or managing properties.

The other choices do not accurately describe a Publicly Traded REIT. For instance, investments through private placements typically refer to private equity and do not apply to publicly traded assets that are available on stock exchanges. Long-term investment commitments may be a characteristic of other investment vehicles, but a Publicly Traded REIT allows for flexibility in trading without requiring such commitments. Lastly, while some REITs might be managed by private equity firms, this is not a defining feature of Publicly Traded REITs, as they can be managed by various types of firms. Thus, the defining characteristic of a Publicly Traded REIT is its presence on stock exchanges, enabling investor trading.