Office real estate investment trusts (REITs) have been under pressure for the past year. The coronavirus pandemic has caused some investors to even question the concept of the office REIT. After all, if companies can work from home without much of a disruption, why will companies spend so much on expensive urban office space in the future?
The question has created headwinds for some office REIT operators. But while many office REITs saw big declines in income over the past 12 months, one office REIT appears to be bucking this trend.