If you’re buying a diversified basket of real estate assets it should behave like real estate over the long term. As a tradable security with a deep and liquid market measured volatility will probably be higher but that’s going to be more a function of far more frequent changes in partial ownership than actual changes in underlying value.
Absolutely. In order to qualify they must pass through 90% of their profit as dividends. Just be sure to chose REITs that invest in real estate the way you want.