Equity REITs are a type of real estate investment trust that primarily invests in and owns income-producing properties, such as commercial buildings, apartments, and shopping centers. They generate revenue mainly through leasing space and collecting rents, which they then distribute to shareholders as dividends. Unlike mortgage REITs, which focus on financing real estate by providing loans, equity REITs directly manage and operate properties. This makes them a popular choice for investors seeking exposure to the real estate market without the need to buy physical properties themselves.