Welcome to our dedicated page for Empire St Rlty Tr news (Ticker: ESRT), a resource for investors and traders seeking the latest updates and insights on Empire St Rlty Tr stock.
Empire State Realty Trust Inc (NYSE: ESRT) owns and operates the Empire State Building along with a portfolio of office and retail properties across Manhattan and the greater New York metropolitan area. The company's news flow reflects its unique position as both a commercial landlord and operator of one of the world's most visited landmarks.
News coverage for ESRT typically includes leasing activity across its office and retail portfolio, with announcements about new tenant signings and expansions at properties in Manhattan, Westchester, Connecticut, and the company's growing Williamsburg retail collection. Property acquisitions represent significant news events as the company expands its New York footprint through strategic purchases.
The Empire State Building generates distinctive news content beyond standard REIT coverage. Tower lighting announcements for holidays, cultural events, and partnerships attract media attention and highlight the building's continued cultural relevance. Observatory updates and visitor experience enhancements provide insight into the tourism revenue segment that distinguishes ESRT from conventional office REITs.
Sustainability achievements represent an important news category for ESRT, which has positioned itself as a leader in green building operations. Announcements about energy efficiency milestones, LEED certifications, and GRESB rankings demonstrate the company's ESG commitment. Earnings releases and SEC filings provide quarterly updates on financial performance, occupancy rates, and funds from operations metrics that REIT investors track closely.
Bookmark this page to follow Empire State Realty Trust developments, from major acquisitions and lease signings to the iconic tower lightings that keep the Empire State Building in the global spotlight.
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.
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.
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