GOOGL - Boston Properties: Optimistic Prospects Plus A Discount
- Office REITs are trading at multi-year lows, driven by general pessimism over office demand.
- Although the remote working trend triggered a sharp drop in office demand, longer term office demand is unlikely to go away which means current overhang is likely to be temporary.
- New York-heavy office REITs have generally rebounded since November when vaccine news came out.
- Boston Properties stood out as a laggard but the company has demonstrated resilience, optimistic long-term prospects, and is worth a watch.
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Boston Properties: Optimistic Prospects Plus A Discount