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REITs Cut Executive Pay Amid COVID-19

Hotel REITs have seen the most compensation reductions, according to a report from FPL Associates.

The COVID-19 pandemic is starting to hit REIT executives in the pocketbook.

Among publicly traded REITs, 16% have announced compensation cuts, with the top brass seeing the biggest reductions, according to a new report from professional services firm FPL Associates. As of May 31, 27 such REITs had unveiled pay reductions. In addition to reducing executive and board pay, some REITs have also announced furloughs, layoffs, and suspended dividends.

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Karen Sloan

Karen Sloan

Karen Sloan is the Legal Education Editor and Senior Writer at ALM. Contact her at [email protected]. On Twitter: @KarenSloanNLJ Sign up for Ahead of the Curve—her weekly email update on trends and innovation in legal education—here: https://www.law.com/briefings/ahead-of-the-curve/

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