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SL Green Cuts Its Dividend as the Manhattan Office Market Suffers From Long COVID

TheMotleyFool

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SL Green Cuts Its Dividend as the Manhattan Office Market Suffers From Long COVID: https://g.foolcdn.com/editorial/images/712237/new-york-city-skyline.jpg

The COVID-19 pandemic cast a dark cloud over the office real estate investment trust (REIT) sector as it proved that companies could continue operations in a 100% remote environment. With a tight labor market, many companies are struggling to bring workers back to the office.

Rising inflation is causing companies also to question their spending on office space and also their commitment to expensive real estate markets. Office REIT S.L. Green (NYSE: SLG) recently cut its dividend as the Manhattan office market has been slow to recover.

Image source: Getty Images.

Source Fool.com

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