 "Embassy Reit delivers returns of more than 20% since market debut")
The Embassy Office Parks REIT (Embassy REIT) stock has underperformed its peer index, BSE Realty, over the past three months, with negative returns of 2 per cent, as against 17 per cent gains for the realty index. The underperformance of the only listed real estate investment trust (REIT) is because of a partial stake sale by Embassy REIT’s sponsor Blackstone and worries that its major clients will scale down their office presence in the aftermath of the Covid-19 pandemic.
IBM, which accounts for 12 per cent of Embassy REIT’s gross rentals, is looking at reducing its office presence (1 million square
