2024-02-20 07:00:00 ET
Summary
- Tanger and EPR Properties were forced to cut dividends during the pandemic, while Lodging REITs saw their dividends disappear.
- Office REITs like SL Green, City Office, and Piedmont Office had to right-size their dividends due to work-from-home trends.
- W. P. Carey surprised investors by removing troubled office properties from its balance sheet and cutting its dividend by almost 20%.
- So, what should we do?
There’s nothing like a good ole fashion global pandemic to reset a dividend.
Take for example, Tanger Inc. ( SKT ), once a Dividend Aristocrat, that was forced to cut its dividend in May 2020.
Or experiential REIT EPR Properties ( EPR ) that was also forced to halt its dividend during COVID-19 due to the global lockdown.
Meanwhile, all the Lodging REITs saw their dividend evaporate as the pandemic spread....
Read the full article on Seeking Alpha
For further details see:
W. P. Carey Or W. P. Scary?