I began coverage of Embassy Office Parks REIT in July 2020 with an idea to understand REITs in general as well as the specific investment opportunity.
Using the annual report of FY2020 as the basis, it appeared then that the REIT stood strong against COVID headwinds. Loaded with Commercial Grade A properties occupied by bluechip tenants, it had very little impact.
You can read that note here.
The following note is in continuation to the above piece so it is better that you first read it and then come back here.
The Embassy Office Parks REIT’s Q2 FY2021 doesn’t appear as rosy as the 1st one and before that the last financial year was.
It is down. And there is one big indicator of it all.