COVID-19 Issues Still Weigh on SL Green's Results
The COVID-19 lockdowns have demonstrated the efficacy of the work-from-home model, causing many investors to question whether this signifies a permanent sea-change in the way people work. In its recent second-quarter earnings, Manhattan office space REIT SL Green (NYSE: SLG) spent a lot of time discussing its tenants' current thinking. Numerous CEOs have bluntly encouraged employees to return to the office, but there are signs that this could get pushed back yet again -- and even if that does happen, SL Green's dividend is safe.
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The company has not seen any indication that companies are planning on shrinking square footage in response to work-from-home trends. On the earnings conference call, SL Green CEO Marc Holliday said that the majority of SL Green's tenants were planning to transition back to work-from-office after Labor Day.
Source Fool.com
