Empire St Rlty Tr Inc Stock Price, News & Analysis

Empire State Realty Trust (NYSE: ESRT) has secured an eleven-year lease with ClearView Healthcare Partners for 39,067 square feet at 111 West 33rd Street, recapturing space from a previous tenant. This lease reflects ClearView's expansion from their existing 10,539 square feet. ESRT's portfolio is the first in North America to achieve the WELL Health-Safety Rating, underscoring its commitment to indoor environmental quality. As of September 30, 2020, ESRT's portfolio totals 10.1 million rentable square feet, including 9.4 million square feet across 14 office properties.

Empire State Realty Trust (NYSE: ESRT) announced that six properties have achieved Fitwel certification, representing 6.7 million square feet or 83% of its NYC portfolio. Fitwel, a health certification system, is backed by the CDC and GSA, promoting health in buildings. Key properties like the Empire State Building received Fitwel ratings due to health and sustainability achievements. ESRT is also the first in the U.S. to earn WELL Health-Safety Rating, enhancing operational policies for health safety. Additionally, ESRT achieved a GRESB 5 Star Rating in its first assessment, ranking in the top 20% globally.

Empire State Realty Trust (NYSE: ESRT) announced a new repurchase authorization of up to $500 million for its Class A common stock and certain operating partnership units, valid from January 1, 2021, to December 31, 2021. This replaces a previous $500 million plan under which $143 million was repurchased. The board also suspended dividends for Class A and Class B common stock for the first half of 2021 while declaring dividends of $0.15 and $0.175 for preferred units. ESRT continues to focus on operational sustainability, achieving top rankings in the GRESB assessment.

Empire State Realty Trust (NYSE: ESRT) has appointed Grant H. Hill to its Board of Directors, effective November 30. Hill fills a newly created vacancy, expanding the Board from eight to nine members. He brings extensive experience from his role as Vice Chairman of the Atlanta Hawks and his investment firm with over $200 million in commercial real estate. Hill's expertise in branding and entrepreneurial ventures is expected to enhance the Company’s brand development, particularly in its Observatory business.

Empire State Realty Trust (NYSE: ESRT) achieved a GRESB 5 Star Rating and Green Star recognition with a score of 88 in the 2020 GRESB Real Estate Assessment, placing it in the top 20% of respondents. This accomplishment marks ESRT's first participation in GRESB, reflecting over a decade of sustainable practices. The company exceeded peer averages by approximately 10 points and the global average by nearly 20 points. Additionally, ESRT is the first U.S. commercial real estate portfolio to earn the WELL Health-Safety Rating, underscoring its commitment to health, safety, and sustainability.

The Empire State Building (ESB) has announced its holiday festivities for 2020, featuring special attractions at its Observatory. Visitors purchasing tickets will enjoy views and a unique 3D LEGO Star Wars display. From November 30 to December 1, families can have holiday portraits taken with the ESB as a backdrop. With a $165 million revamped experience and new safety measures, including timed ticketing, the ESB aims to enhance visitor experience while ensuring safety. The building will also be adorned with festive decorations and lights throughout the holiday season.

Empire State Realty Trust (NYSE: ESRT) closed a $180 million mortgage loan for its property at 250 West 57th Street in Manhattan. The interest-only loan features a fixed rate of 2.83% and matures in December 2030. This financing reinforces ESRT's asset quality and capital market access. Proceeds will enhance liquidity and balance sheet flexibility. The company operates numerous properties in Manhattan and the broader New York area, focusing on energy efficiency and sustainability.

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.

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.