Empire St Rlty Tr Inc Stock Price, News & Analysis

Empire State Realty Trust (NYSE:ESRT) will release its Q1 2021 financial results on April 28, 2021, after market close. A conference call is scheduled for April 29, 2021, at 12:00 p.m. ET, where company officers will discuss performance and recent events. Earnings and supplemental materials will be available on the company’s website before the call. ESRT owns and manages significant office and retail properties in New York, with a portfolio of 10.1 million rentable square feet as of December 31, 2020.

Empire State Realty Trust (NYSE: ESRT) has secured an $850 million, four-year unsecured revolving credit agreement to enhance its liquidity and financial flexibility. The facility, which matures on March 31, 2025, can be extended twice for six months each. This replaces the prior facility set to expire in 2021. The credit line features a sustainability-linked pricing mechanism, which may lower borrowing costs based on achieving specific benchmarks. The arrangement, led by top financial institutions, signals confidence in ESRT's capital access and asset management capabilities.

Empire State Realty Trust (NYSE: ESRT) announced that Chairman and CEO Anthony E. Malkin, along with EVP and CFO Christina Chiu, will present at the Citi 2021 Virtual Global Property CEO Conference on March 9, 2021, at 2:45 PM ET. Investors can access the live audio-webcast in the Investor Relations section of the Company’s website. A replay will be available until March 9, 2022.

The Company is a prominent real estate investment trust, managing office and retail properties, including the Empire State Building, totaling 10.1 million rentable square feet.

Empire State Realty Trust (NYSE: ESRT) reported its Q4 2020 financial results, posting a net loss of ($0.10) per share and Core Funds From Operations (Core FFO) of $0.17. The company signed 33 leases totaling 413,356 square feet and collected 95% of total billings. Its liquidity position stands strong at $1.6 billion. Notable achievements include a GRESB 5 Star Rating and Fitwel Champion status for 83% of its Manhattan portfolio. However, occupancy rates dropped to 85.9%, down from 88.6% a year prior, indicating ongoing challenges amid the pandemic.

Empire State Realty Trust (NYSE: ESRT) has signed a full-floor lease with Transit Wireless for 32,499 sq. ft. at 1400 Broadway, New York. This marks Transit Wireless' relocation from 1350 Broadway, where they occupied 24,503 sq. ft. The new office emphasizes employee safety with advanced air quality technology. ESRT achieved a GRESB 5 Star Rating and became the first U.S. real estate portfolio to receive the WELL Health-Safety Rating. 1400 Broadway is strategically located near Herald Square and features superior indoor environmental quality due to upgraded ventilation systems.

Empire State Realty Trust (NYSE: ESRT) has achieved a significant milestone in sustainability by becoming the largest user of green power in real estate, powered entirely by renewable wind energy across its 10.1 million square-foot portfolio. This three-year contract with Green Mountain Energy is expected to save the company over $800,000 in the first year. The initiative will prevent the emission of 450 million pounds of carbon dioxide, demonstrating ESRT's commitment to environmental stewardship. Their properties have received several accolades, including a GRESB 5 Star Rating and the WELL Health-Safety Rating.

Empire State Realty Trust (NYSE: ESRT) announced the lease renewal of Pera Mediterranean Brasserie at One Grand Central Place. This critically acclaimed restaurant is noted for its upscale Eastern Mediterranean cuisine, enhancing the appeal for tenants and visitors alike. The deal reflects the ongoing partnership during challenging times for the restaurant sector, showcasing innovative solutions by ESRT. As of September 30, 2020, ESRT's real estate portfolio includes approximately 10.1 million rentable square feet across office and retail properties, with a strong focus on sustainability.

The Empire State Building (ESB) and iHeartMedia New York have launched a contest to gift a couple a socially distanced wedding on Valentine's Day weekend. Couples whose 2020 wedding plans were disrupted by the pandemic can submit their stories online until February 5, 2021. The winner will have their ceremony on February 13, 2021, at the ESB's 86th Floor Observatory, with wedding attire, rings, and a honeymoon provided. This initiative aims to create unforgettable experiences for couples impacted by COVID-19.