HIW - Office REITs dip as State Street leaves New York City

A number of office REIT stocks slip after news that State Street is vacating its offices in New York City. SL Green Realty (NYSE:SLG), the largest publicly traded landlord of New York City office properties, falls 1.1%. JBG Smith (NYSE:JBGS) stock drops 1.2%. Paramount Group (NYSE:PGRE), with properties in New York City and San Francisco, slips 0.8%. Boston Properties (NYSE:BXP), which focuses on coastal markets including NYC, only slips 0.2%. REITs focusing on markets principally in the Sunbelt markets see smaller declines  —  Highwoods Properties (HIW -0.1%) and Cousins Properties (CUZ -0.2%). Previously (Aug. 8), Teleworking percentage slips in July, but office occupancy is far from full

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Office REITs dip as State Street leaves New York City