Real estate may have been a hot investment last year, but not for real estate investment trusts.

A lack of acquisitions in the commercial real estate market last year prevented companies from floating more stock, which, in turn, resulted in a mere 5% increase in net inflows to REITs, Prudential Real Estate Investors found. REITs took in $19.8 billion in 2002, up marginally from $18.8 billion the year before. By comparison, REITs took in $45.3 billion in 1997 and $38.4 billion in 1998.

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