The Collaborative International Dictionary of English v.0.48:

Reit \Reit\ (r?t), n.
   Sedge; seaweed. [Obs. or Prov. Eng.]
   [1913 Webster]

WordNet (r) 3.0 (2006):

REIT
    n 1: an investment trust that owns and manages a pool of
         commercial properties and mortgages and other real estate
         assets; shares can be bought and sold in the stock market
         [syn: Real Estate Investment Trust, REIT]