Empire St Rlty Tr Inc Stock Price, News & Analysis

Empire State Realty Trust, Inc. (NYSE: ESRT) has appointed Christina Chiu as Chief Operating Officer while she retains her role as Chief Financial Officer. Chiu, who joined ESRT in 2020, will oversee multiple areas, including financial reporting and investor relations. Her previous experience includes 18 years at Morgan Stanley. ESRT’s Chairman noted her contributions are crucial for stakeholder value enhancement and operational efficiencies. The company focuses on leveraging its strong balance sheet and modernized assets to pursue growth.

The Empire State Building (ESB) has launched its festive season with extravagant holiday decorations and events, starting November 28 through December 30. The observatory features a reimagined experience with a $165 million upgrade, including a new guest entrance and immersive exhibits. Guests can enjoy holiday music from professional pianists on weekdays and visit Santa on December 4. Additionally, the new Starbucks Reserve offers dining options. The iconic tower will be lit for various holidays, enhancing the festive ambiance for over 4 million annual visitors.

Empire State Realty Trust (NYSE: ESRT) has successfully signed a lease with the national jewelry brand Pandora, ensuring that its retail property at 112 W. 34th Street remains 100% leased. The new store will replace a previous lease held by Swatch. This strategic move further positions ESRT within a high-traffic shopping area, alongside established brands like Sephora and Target. ESRT is recognized for its strong retail portfolio and commitment to sustainability, owning approximately 9.2 million rentable square feet in New York City.

Empire State Realty Trust (NYSE: ESRT) has introduced honeybee hives at several properties, including the Empire State Building, as part of its sustainability efforts. The initiative aims to help recover honeybee populations, vital for pollination, and will produce locally sourced honey for tenants. Each hive can house up to 50,000 bees, with a focus on engaging tenants in sustainability practices. This project reflects ESRT's commitment to environmental responsibility and follows its achievement of carbon neutrality in 2022. Honey harvested from these hives will be distributed at events in November.

Empire State Realty Trust (ESRT) has achieved a 5 Star Rating from the Global Real Estate Sustainability Benchmark (GRESB) for the third consecutive year, scoring 95 points. It received the highest score for Public Disclosure with a score of 96 and an 'A' rating, ranking second in its competitive peer group in the U.S. ESRT was recognized as a Global and Regional Sector Leader in various categories, focusing on sustainability and energy efficiency, with carbon neutrality achieved across its portfolio. The company aims for an 80% reduction in operational emissions by 2030.

The Empire State Building (ESB) hosted its 44th annual Run-Up on October 7, 2022, with 374 runners competing to ascend 1,576 stairs to the 86th Floor Observatory. Soh Wai Ching won the Men's Elite category with a time of 10:44, while Cindy Harris took the Women's Elite with 13:56. The event, presented by Turkish Airlines and supported by the Challenged Athletes Foundation, featured a designated heat for challenged athletes. The iconic building lit its tower in red and white to celebrate the event, further solidifying its status as a premier attraction.

Empire State Realty Trust (NYSE: ESRT) announced that its 2021 Schedule K-3, containing items of international tax relevance, is now available online. This document is crucial for specific OP unitholders, particularly non-U.S. unitholders or those needing to compute foreign tax credits. The Schedule K-3 is vital for ensuring compliance with U.S. tax laws. ESRT, known for managing the iconic Empire State Building and a leader in energy efficiency, aims to assist unitholders in understanding their tax reporting obligations.

Empire State Realty Trust (NYSE: ESRT) will release its third quarter 2022 financial results on October 26, 2022, after market close. A conference call is scheduled for October 27, 2022, at 12:00 p.m. ET. The Company, known for owning the Empire State Building, manages approximately 9.2 million square feet of office space and 700,000 square feet of retail space in Manhattan. They are leaders in energy efficiency and have received accolades including TripAdvisor's Best of the Best Awards for their landmark observatory.