Empire State Realty Trust

Empire State Realty Trust, Inc. is a real estate investment trust, which engages in owning, managing, acquiring, and repositioning office and retail properties. It operates through the Real Estate and Observatory segments. The Real Estate segment includes ownership, management, operation, acquisition, repositioning, and disposition of real estate assets. The Observatory segment manages observatories at the Empire state building. The company was founded on July 29, 2011 and is headquartered in New York, NY.

Earnings data Q1 2021

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Earnings data Q4 2024

Empire State Realty Trust reports robust performance and growth opportunities

ESRT's Q4 2022 performance showcased strong leasing results, sustainability achievements, and a focus on energy-efficient buildings.
The company's strengths lie in its quality customer experience, solid balance sheet, and strategic capital recycling activities.
Challenges include managing operating expenses, revenue fluctuations, and potential market trend shifts.
ESRT has opportunities for growth in multi-family properties, New York City real estate, and optimizing its operational strategies.

Empire State Realty Trust (ESRT) reports strong Q1 performance

Empire State Realty Trust (ESRT) delivered a solid performance in Q1 2023, with strong leasing activity and Observatory results driving overall performance. The company's balance sheet strength and focus on modernization position it well for future growth.
ESRT faces challenges from potential distress transactions in the office sector and market forces affecting financing availability. However, the company's low debt levels and strategic approach provide resilience in navigating challenges.
Opportunities lie in ESRT's focus on New York City properties, attracting diverse tenants, and potential distress transactions for strategic acquisitions. The company's positive guidance and preparedness to capitalize on opportunities showcase a proactive stance towards growth.

ESRT excels in Q2, poised for growth amidst NYC resilience

ESRT delivered a strong quarter with robust financial performance and operational achievements.
The company's strategic focus on modernization and tenant diversification positions it well for future growth.
Challenges in decision-making speed and market dynamics require ongoing attention, while opportunities in leasing and visibility offer avenues for expansion.

Empire State Realty Trust excels in Q3, eyes NYC property growth

Empire State Realty Trust's Q3 performance showcases operational excellence, financial strength, and strategic growth initiatives. Despite challenges in capital markets, the company remains well-positioned to capitalize on opportunities in NYC real estate.

Empire State Realty Trust excels in Q4 2023 earnings call

ESRT's Q4 2023 performance reflects operational strength, robust financial metrics, and promising growth prospects, underpinned by strategic leasing initiatives and market positioning.
Despite potential challenges in lease management and capital decisions, ESRT's strong portfolio value, tenant relationships, and financial outlook offer a solid foundation for future success.
By leveraging opportunities in leasing, sustainability efforts, and strategic planning, ESRT can navigate challenges, drive growth, and enhance shareholder value in the real estate market.

Empire State Realty Trust reports robust Q1 results and growth outlook

ESRT's Q1 performance reflects strong leasing momentum and balance sheet enhancements. Challenges in specific properties are being addressed with confidence in overall leasing activity. The company's focus on growth and operational efficiency sets the stage for shareholder value creation in 2024.

Empire State Realty Trust (ESRT) reports solid Q2 performance

ESRT's Q2 2024 earnings call highlighted a robust performance, emphasizing leasing strength and operational growth. While facing challenges such as lower visitor counts and strategic decision-making, the company remains well-positioned to leverage opportunities in the market.

Empire State Realty Trust (ESRT) reports strong Q3 performance and outlines growth strategies

Empire State Realty Trust (ESRT) delivered a strong performance in Q3 2024, showcasing leasing success, retail acquisitions, and positive portfolio absorption. While facing challenges related to tenant renewals and market uncertainties, ESRT remains well-positioned to capitalize on growth opportunities and create shareholder value through strategic asset management.

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NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the "Company") is a REIT that owns and manages office, retail and multifamily assets in Manhattan and the greater New York metropolitan area. ESRT owns the iconic Empire State Building – the “World's Most Famous Building” – and the newly reimagined Empire State Building Observatory that was named #1 attraction in the US, and #3 in the world, in Tripadvisor's 2022 Travelers' Choice Awards: Best of the Best.

Empire State Realty Trust Announces Fourth Quarter and Full Year 2022 Results

NEW YORK--( BUSINESS WIRE )--Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that it achieved the WELL Health-Safety Rating across 100% of its portfolio for the third year in a row and committed to the International WELL Building Institute's (IWBI) WELL at scale program and inaugural WELL Equity Rating. ESRT was the first commercial real estate portfolio in the Americas to achieve the WELL Health-Safety rating in 2020 – one of the industry's most rigorous ratings for healthy buildings and organizations – and one of the first in the world to achieve its annual renewal.

Empire State Realty Trust Among the First to Renew WELL Health-Safety Rating for the Second Time, and Commit to WELL at Scale and Inaugural WELL Equity Rating

NEW YORK--( BUSINESS WIRE )--Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that it was included in the 2023 Bloomberg Gender-Equality Index (GEI) – a modified market capitalization-weighted index developed to gauge the performance of public companies committed to transparency in gender data reporting – for the second consecutive year with an overall score of 76. ESRT's overall score improved by 14 points from the previous year's submission, is seven points higher than the average score in the real estate sector, and three points higher than the average score across all 11 sectors.

Empire State Realty Trust Selected for 2023 Bloomberg Gender-Equality Index for Second Consecutive Year

Iconic REIT Empire State Realty Trust has been disappointing shareholders for quite a while.

This Beaten-Down Stock Could Finally Turn Around in 2023

NEW YORK--( BUSINESS WIRE )--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”) is a REIT that owns and manages office, retail and multifamily assets in Manhattan and the greater New York metropolitan area. ESRT owns the Empire State Building, the World's Most Famous Building, and TripAdvisor's 2022 Travelers' Choice Best of the Best Awards #1 attraction in the U.S. and #3 attraction in the world, the newly reimagined iconic Empire State Building Observatory. Today, the Company announced the 2022 tax treatment of the Company's Class A common stock distributions, as described below. The following table summarizes, for income tax purposes, the nature of the cash distributions paid by the Company to its stockholders during the year ended December 31, 2022 and the appropriate Form 1099-DIV box number. Stockholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of the Company's distributions.

Empire State Realty Trust Announces 2022 Tax Treatment of Its Distributions

NEW YORK--( BUSINESS WIRE )--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”) is a REIT that owns and manages office, retail and multifamily assets in Manhattan and the greater New York metropolitan area. ESRT owns the Empire State Building, the World's Most Famous Building, and TripAdvisor's 2022 Travelers' Choice Best of the Best Awards #1 attraction in the U.S. and #3 attraction in the world, the newly reimagined iconic Empire State Building Observatory. Today, the Company announced that it will release its fourth quarter 2022 financial results on Wednesday, February 15, 2023, after the close of markets on the New York Stock Exchange. A conference call will be held on Thursday, February 16, 2023, at 12:00 p.m. Eastern Time.

Empire State Realty Trust Announces Dates for Fourth Quarter 2022 Earnings Release and Conference Call

NEW YORK--( BUSINESS WIRE )--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), is a REIT that owns and manages office, retail and multifamily assets in Manhattan and the greater New York metropolitan area. ESRT owns the Empire State Building, the World's Most Famous Building, and Tripadvisor's 2022 Travelers' Choice Best of the Best Awards #1 attraction in the U.S. and #3 attraction in the world, the newly reimagined and iconic Empire State Building Observatory. Today, the Company announced that Leslie D. Biddle will step down from its Board of Directors, effective January 16, 2023, to assume her new position of Special Assistant to the Undersecretary of Infrastructure at the U.S. Department of Energy.

Empire State Realty Announces Director Leslie D. Biddle to Step Down

Empire State Realty Trust owns the iconic Empire State Building and derives significant revenues from its Observatory operations. Though 2022 visitation levels are markedly improved from 2021, international tourism still lags.

Empire State Realty: Better To Observe From The Sidelines

NEW YORK--( BUSINESS WIRE )--Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that it welcomed Italian legwear and beachwear brand Calzedonia USA, Inc. to its retail roster at 1333 Broadway. With this new 902 square foot lease, all retail spaces at 1333 Broadway are now fully leased.

ESRT Welcomes Calzedonia to Retail Roster at 1333 Broadway

NEW YORK--( BUSINESS WIRE )--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), is a REIT that owns and manages office, retail and multifamily assets in Manhattan and the greater New York metropolitan area. ESRT owns the Empire State Building, the World's Most Famous Building, and Tripadvisor's 2022 Travelers' Choice Best of the Best Awards #1 attraction in the U.S. and #3 attraction in the world, the newly reimagined and iconic Empire State Building Observatory. Today, the Company provided the following update on its business operations.

Empire State Realty Trust Provides Business Update

Chiu Previously Served as Executive Vice President, Chief Financial Officer NEW YORK , Dec. 14, 2022 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that Executive Vice President, Chief Financial Officer Christina Chiu has also been named the company's Chief Operating Officer. Chiu's areas of oversight include capital markets, financial planning and analysis, financial reporting, tax, treasury, investor relations, information technology, legal and human resources.

Empire State Realty Trust Appoints Christina Chiu as Executive Vice President, Chief Operating Officer & Chief Financial Officer

NEW YORK--( BUSINESS WIRE )--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), is a REIT that owns and manages office, retail and multifamily assets in Manhattan and the greater New York metropolitan area. ESRT owns the Empire State Building, the World's Most Famous Building, and Tripadvisor's 2022 Travelers' Choice Best of the Best Awards #1 attraction in the U.S. and #3 attraction in the world, the newly reimagined and iconic Empire State Building Observatory. Today, the Company announced that its Board of Directors has declared a dividend of $0.035 per share for the fourth quarter of 2022, payable to holders of the Company's Class A common stock and Class B common stock and to holders of Empire State Realty OP, L.P.'s (“ESRO”) Series ES, Series 250 and Series 60 operating partnership units (NYSE Arca: ESBA, FISK and OGCP, respectively) and Series PR operating partnership units.

Empire State Realty Trust Announces Dividend for Fourth Quarter 2022

New Transaction Keeps Midtown Retail Property at 100% Leased NEW YORK , Nov. 10, 2022 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that it welcomed national jewelry brand Pandora with a lease signed at 112 W. 34th Street.

ESRT Welcomes Pandora to Retail Roster at 112 W. 34th Street

Ally Financial

Nextdoor

Moderna

Simon Property Group

These companies clearly think their shares are good values.

5 Companies Buying Back Their Stock Aggressively in This Bear Market

Just because an industry is facing headwinds doesn't mean there aren't opportunities.

1 Future Multibagger in a Beaten-Down Industry

New tenant benefit addresses critical need to help recovery of honeybee populations as part of ESRT's continued sustainability efforts NEW YORK , Nov. 1, 2022 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that it welcomed its newest, tiny tenants with honeybee hives installed at the Empire State Building, 1350 Broadway, 111 W. 33rd Street, and 501 Seventh Avenue.

Empire State Realty Trust Announces ESRT Bees with Beehives at the Empire State Building and Three Other NYC Properties

Digital Realty Trust

These two real estate stocks have been hard hit in the recent market downturn, but recent results look strong.

2 Real Estate Stocks I'm Even More Excited About After Earnings

Empire State Realty Trust, Inc. (NYSE:ESRT ) Q3 2022 Earnings Conference Call October 26, 2022 ET Company Participants Heather Houston - SVP, Deputy General Counsel and Corporate Secretary Anthony Malkin - Chairman, CEO and President Tom Durels - EVP, Real Estate Christina Chiu - EVP and CFO Conference Call Participants Camille Bonnel - Bank of America Merrill Lynch Blaine Heck - Wells Fargo Steve Sakwa - Evercore ISI Michael Griffin - Citi Daniel Ismail - Green Street John Kim - BMO Operator Greetings, and welcome to the Empire State Realty Trust Third Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode.

Empire State Realty Trust, Inc. (ESRT) Q3 2022 Earnings Call Transcript

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the "Company") is a REIT that owns and manages office, retail and multifamily assets in Manhattan and the greater New York metropolitan area.

Empire State Realty Trust Announces Third Quarter 2022 Results

NEW YORK , Oct. 25, 2022 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that it is the first commercial office REIT in the U.S. to join the United Nations Global Compact , as well as to commit to the Women's Empowerment Principles (WEPs). The United Nations Global Compact brings companies together to align strategies and operations with 10 principles to advance societal goals.

Empire State Realty Trust Becomes America's First Commercial Office REIT to Join Both the United Nations Global Compact and the Women's Empowerment Principles

ESRT received the second highest score overall in the most competitive peer group in the U.S.; the highest score for Public Disclosure; and top achievements in eight categories NEW YORK , Oct. 18, 2022 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that it achieved the highest possible Global Real Estate Sustainability Benchmark (GRESB) 5 Star Rating for the third consecutive year with a score of 95. ESRT additionally received a score of 96 and an "A" rating in the Public Disclosure Assessment that measures ESG disclosure activities.

Empire State Realty Trust Achieves Top GRESB 5 Star Rating for Third Consecutive Year; Named Global, Americas Regional, and Americas Regional Listed Sector Leader for Office

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”) is a REIT that owns and manages office, retail and multifamily assets in Manhattan and the greater New York metropolitan area. ESRT owns the Empire State Building, the World's Most Famous Building, and TripAdvisor's 2022 Travelers' Choice Best of the Best Awards #1 attraction in the U.S. and #3 attraction in the world, the newly reimagined iconic Empire State Building Observatory. The Company announced that

Empire State Realty Trust Announces Release of Schedule K-3 for OP Unitholders

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”) is a REIT that owns and manages office, retail and multifamily assets in Manhattan and the greater New York metropolitan area. ESRT owns the Empire State Building, the World's Most Famous Building, and TripAdvisor's 2022 Travelers' Choice Best of the Best Awards #1 attraction in the U.S. and #3 attraction in the world, the newly reimagined iconic Empire State Building Observatory. Today, the Company announce

Empire State Realty Trust Announces Dates for Third Quarter 2022 Earnings Release and Conference Call

ESRT owns the Empire State Building and is a REIT that owns a portfolio of other office, multifamily, and retail assets throughout the New York region. Visitation statistics to their prime portfolio asset should correlative with the company's share price. Instead, they are moving in opposite directions.

Empire State Realty Trust: Mispriced In Relation To Visitation Trends

This is one of my largest stock holdings, and one I don't plan on selling anytime soon.

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