Remote Work Is Still Hurting This REIT. Is Its Dividend Safe?
The remote work trend has bedeviled the office real estate sector since early 2020. The COVID-19 pandemic provided us with proof that work-from-home models can work, and employees generally like them. Now, the U.S. labor market is the tightest it has been since the late 1960s, based on statistics like the unemployment rate and initial jobless claims. This has given large numbers of employees more leverage to demand the option of working remotely or under a hybrid model, rather than having to be on-site consistently.
The New York City office market in particular has struggled since the pandemic began, and office real estate investment trust (REIT) SL Green Realty (NYSE: SLG) got pinched as a result. As the pandemic eases and workers start returning to the office, some improvement can be seen. Are things turning around for the REIT, and is its dividend safe?
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Source Fool.com
