Is Empire State Realty Trust Too Risky?
The 2020 pandemic hit was particularly hard on landlords with properties located in big cities. You don't get much bigger than Manhattan, which is where Empire State Realty Trust (NYSE: ESRT) calls home. As 2021 has progressed, the real estate investment trust's (REIT's) portfolio performance has started to improve. But there's more to understand here before you make the decision to jump in.
When the coronavirus first started to spread around the globe, it was clear that it spread most easily in group settings. People started working from home, and many basically fled big cities to find refuge in more suburban environments. It was tough on office-focused REIT Empire State Realty. But as vaccines rolled out and efforts to reopen the economy progressed, things have gotten better.
Image source: Getty Images.
Source Fool.com
