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EMPIRE STATE REALTY TRUST, INC. - ESRT STOCK NEWS

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Empire State Realty Trust, Inc. (NYSE: ESRT) is a premier real estate investment trust (REIT) headquartered in New York, New York. As a leading entity in the real estate sector, ESRT specializes in the ownership, management, operation, acquisition, and repositioning of both office and retail properties in Manhattan and the greater New York metropolitan area. The company is renowned for its iconic property, the Empire State Building, which stands as one of the most famous buildings in the world.

As of June 30, 2015, Empire State Realty Trust's extensive office and retail portfolio boasts a substantial 10.0 million rentable square feet. This includes 9.3 million rentable square feet distributed across 14 office properties, with nine properties located in Manhattan, three in Fairfield County, Connecticut, and two in Westchester County, New York. Additionally, the retail portfolio encompasses approximately 720,000 rentable square feet.

Empire State Realty Trust operates as a pure-play greater New York and Manhattan-focused REIT, with around 9.4 million square feet of office space under its management, about 80% of which is located in Manhattan. The Empire State Building alone, featuring both office spaces and the popular observation deck, serves as a significant revenue generator and a prominent tourist attraction.

ESRT's strategic approach to real estate investment and management ensures that its properties are continually optimized for maximum value and performance. This includes ongoing projects aimed at enhancing tenant satisfaction, improving energy efficiency, and maintaining the historic integrity of its properties. The company's commitment to sustainability is evident in its efforts to achieve various environmental certifications and implement green building practices.

Financially, Empire State Realty Trust remains robust, with a diverse tenant base and a strategic focus on high-demand locations. The company's partnerships and collaborations with other industry leaders further strengthen its market position, offering shareholders confidence in its long-term growth and stability.

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Empire State Realty Trust (NYSE: ESRT) and iHeartMedia announce the Empire State Building's annual holiday music-to-light show featuring Carrie Underwood's new song 'Hallelujah' with John Legend. Scheduled for December 19 to December 25, the show will sync live at 8:00 p.m. with broadcasts on iHeartRadio's Z100 and LiteFM. The event highlights Underwood's debut holiday album, 'My Gift,' released on September 25, with an emphasis on bringing festive joy to viewers worldwide through YouTube and Earthcam.

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Empire State Realty Trust (NYSE: ESRT) has secured a lease with Swedbank for 7,905 sq ft on the 45th floor of the Empire State Building. This addition reflects ESRT's continued appeal to top credit businesses and international tenants, bolstered by its WELL Health-Safety Rating. The company’s portfolio includes 10.1 million rentable sq ft, with significant space in both Manhattan and surrounding areas. The leadership underscores a commitment to energy efficiency and high indoor environmental quality, aiding in tenant comfort and safety during the ongoing health crisis.

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The Empire State Building (ESB) launched ESB SIMON®, an interactive game for Halloween that allows families and fans to compete via the building's iconic lights. The game, inspired by Hasbro's SIMON, takes place on Halloween night from 8:00 p.m. to 9:00 p.m., enabling up to 100,000 players to join live. Participants can view the game from New York or New Jersey and must repeat increasingly complex color sequences. An 'Infinite Play' mode is also available leading up to the event, providing a way to practice memory skills.

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Empire State Realty Trust (NYSE:ESRT) reported its third-quarter 2020 results, revealing a net loss of $0.05 per share. Core Funds From Operations stood at $0.12 per share. The Company collected 94% of its third-quarter billings, with 96% from office tenants. Liquidity remains strong at $1.5 billion. Same-Store Property Cash NOI increased 9.3% while it reduced property operating expenses by $26 million year-to-date. Notably, the Company suspended its third and fourth quarter dividends, citing no taxable income for 2020. It also received the WELL Health-Safety rating for its commercial portfolio.

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Empire State Realty Trust (NYSE: ESRT) has signed a direct lease with Centric Brands for 212,154 square feet at the Empire State Building. This space was previously occupied by Global Brands Group. Centric Brands' decision to commit long-term to ESB follows their reorganization efforts. The leadership expressed gratitude for the collaboration among all parties involved in the deal. ESRT continues to lead in Indoor Environmental Quality and has achieved the WELL Health-Safety Rating for its commercial portfolio, emphasizing its commitment to tenant safety and business continuity.

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Empire State Realty Trust (NYSE: ESRT) will release its third quarter 2020 financial results on October 28, 2020, after market close. A conference call to discuss the performance will occur on October 29, 2020, at 12:00 PM ET. Participants can access the earnings release and supplemental materials on the company's website prior to the call. Interested parties can join the call via phone or through a webcast available in the 'Investors' section of the website. The call will be replayed for 90 days post-event.

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The Empire State Building (ESB) Observatory is offering couples in the Tri-State area a unique opportunity for complimentary photography on October 10, 2020. This initiative aims to celebrate love amid the COVID-19 pandemic, allowing couples to capture moments 1,050 feet above New York City. Professional photographers will be present from 11 a.m. to 4 p.m. to take up to five photos per couple with ticket purchase. ESB's President Jean-Yves Ghazi emphasized the building's long-standing connection to love stories and is inviting locals to create their own iconic memories.

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Empire State Realty Trust (NYSE: ESRT) has secured a new lease with Berkley Insurance Company for 63,173 square feet at Metro Center, Stamford, CT, lasting until 2033. This prestigious tenant, rated A+ by Standard & Poors and A.M. Best, will occupy 1.5 floors of the renovated 285,258 square foot property. Notable amenities include a new lobby, gym, and coffee shop. The deal marks a significant addition to a tenant roster that includes leading financial firms. ESRT continues to manage a substantial portfolio of properties across Manhattan and the New York metropolitan area.

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The Empire State Building Observatory launched its ninth annual photo contest on September 10, 2020, inviting amateur photographers from the U.S. to submit their best shots of the iconic structure. The contest features public voting for the Grand Prize, which includes $5,000 and two FlyNYON flight tickets. Submissions are accepted until November 5, 2020. Winners will be chosen from eight categories, emphasizing diverse photography styles. The recent $165 million renovation enhances the visitor experience, making the Observatory a prime attraction in New York City.

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The Empire State Building (ESB) will reopen its Observatory on July 20, 2020, following New York's Phase 4 guidelines. Over 100 employees are being recalled for training in new safety protocols. The Observatory, recently revamped at a cost of $165 million, will operate at reduced capacity, limiting visitors to 500 at a time. Safety measures include contactless temperature checks, mandatory facial coverings, and enhanced air quality standards. The reopening aims to provide a unique experience for New Yorkers while ensuring compliance with health regulations.

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FAQ

What is the current stock price of EMPIRE STATE REALTY TRUST (ESRT)?

The current stock price of EMPIRE STATE REALTY TRUST (ESRT) is $10.59 as of November 15, 2024.

What is the market cap of EMPIRE STATE REALTY TRUST (ESRT)?

The market cap of EMPIRE STATE REALTY TRUST (ESRT) is approximately 1.8B.

What is Empire State Realty Trust, Inc.?

Empire State Realty Trust, Inc. (NYSE: ESRT) is a leading real estate investment trust that owns, manages, and operates office and retail properties in Manhattan and the greater New York metropolitan area.

What properties does Empire State Realty Trust own?

Empire State Realty Trust's portfolio includes the iconic Empire State Building and other properties totaling 10.0 million rentable square feet in Manhattan, Connecticut, and Westchester County, New York.

Where is Empire State Realty Trust headquartered?

Empire State Realty Trust is headquartered in New York, New York.

What is the significance of the Empire State Building in ESRT's portfolio?

The Empire State Building is a landmark property within ESRT's portfolio, featuring office spaces and an observation deck, making it a major revenue generator and tourist attraction.

How much office space does Empire State Realty Trust manage?

Empire State Realty Trust manages around 9.4 million square feet of office space, with approximately 80% located in Manhattan.

What is the size of ESRT's retail portfolio?

ESRT's retail portfolio covers approximately 720,000 rentable square feet.

What are some recent projects of Empire State Realty Trust?

Recent projects include efforts to enhance tenant satisfaction, improve energy efficiency, and maintain the historic integrity of its properties.

Does Empire State Realty Trust focus on sustainability?

Yes, ESRT is committed to sustainability, striving for environmental certifications and implementing green building practices across its properties.

Who are the tenants of Empire State Realty Trust's properties?

ESRT's properties host a diverse tenant base, comprising various industries and sectors, ensuring a stable and robust financial condition.

How does Empire State Realty Trust ensure the value of its properties?

ESRT continually optimizes its properties through strategic management, tenant satisfaction initiatives, and sustainable practices, ensuring long-term value and performance.

EMPIRE STATE REALTY TRUST, INC.

NYSE:ESRT

ESRT Rankings

ESRT Stock Data

1.76B
165.78M
0.05%
88.87%
3.1%
REIT - Diversified
Real Estate Investment Trusts
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United States of America
NEW YORK