Real estate investment trusts, or REITs, have generally not performed well recently, mainly due to the effects of rising interest rates. But the REITs that focus on New York City -- specifically SL Green(NYSE: SLG), Vornado Realty Trust(NYSE: VNO), and Empire State Realty Trust(NYSE: ESRT) -- have been hit particularly hard. In this video, Tyler Crowe and I discuss why they've been falling so sharply.
*Stock prices used were the afternoon prices of March 23, 2023. The video was published on March 24, 2023.
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Matthew Frankel, CFP® has positions in Empire State Realty Trust. Tyler Crowe has no position in any of the stocks mentioned. The Motley Fool recommends Empire State Realty Trust. The Motley Fool has a disclosure policy.
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