Empire St Rlty Tr Inc Stock Price, News & Analysis

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.

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.

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.

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.

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.

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.