SL Green: Value or Value Trap?
Office real estate investment trusts (REITs) have been under a cloud since the early days of the pandemic. The initial fear was that their tenants would go out of business and leave them with the lease costs.
That generally didn't happen, but the work-from-home model worked so well that it has become a permanent part of the landscape. While companies would prefer most of their employees to work on site, employers don't really have the leverage in this labor market to push the issue.
This situation is particularly acute in places like New York City, where many people have long commutes from the suburbs. How is the biggest office landlord in New York City, SL Green Realty (NYSE: SLG), faring in this environment?
Source Fool.com
