U.S. REIT shares cool amid condo glut

U.S. REIT shares cool amid condo glut - Barron's

NEW YORK, Nov 12 (Reuters) - Shares of Real Estate Investment Trusts are cooling due to a soft market for condominiums in the United States, according to financial publication Barron's.

Equity Residential (EQR.N: Quote, Profile, Research), the largest U.S. publicly traded apartment owner, said that the market for condos in Florida has limited one-time gains from converting rental apartments, with similar conditions possible in California, Phoenix and Washington, D.C., according to the financial newspaper.