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.

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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) announced today that it signed a new, long term lease with Pontera Solutions, Inc. for a 40,679 square foot space at the Empire State Building. Pontera – a fintech company that specializes in software for financial advisors to manage retirement accounts –- will relocate from their current 10,539 square foot space at ESRT's 111 W. 33rd Street. “ESRT continues to provide solutions for great businesses, this time with Pontera.

Pontera Solutions Signs 41k Square Foot Expansion Lease with ESRT at the Empire State Building

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), today announced that its Board of Directors has declared a dividend of $0.035 per share for the second quarter of 2024, 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 uni.

Empire State Realty Trust Announces Dividend for Second Quarter 2024

NEW YORK--(BUSINESS WIRE)--The Empire State Building (ESB) hosted 20 brave supporters of Outward Bound – along with participant Jared Leto – in a historic rappel down the building's south façade, in partnership with Outward Bound to raise transformational funds for the charity across the world. Participants total donations exceeded $3 million to Outward Bound, which will make a profound difference in the educational journeys of young people everywhere. “The Empire State Building is the perfect.

The Empire State Building Partners with Outward Bound on First-Ever, Full Rappel Down the Building for Charity

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U.S. equity markets rebounded from their worst weekly decline in a year despite a continued uplift in benchmark interest rates, as a solid start to earnings season counteracted disappointing economic data. Ahead of the Fed's policy meeting in the week ahead, markets were confounded - albeit temporarily - by a "jarring" GDP report that showed a return of "stagflationary" trends. Defying the macro headwinds to post its best week since November, the S&P 500 rallied 2.8% on the week - erasing essentially all of its declines in the prior week.

Stagflation Is Back

Empire State Realty Trust, Inc. (NYSE:ESRT ) Q1 2024 Earnings Conference Call April 25, 2024 12:00 PM ET Company Participants Heather Houston - Senior Vice President, Chief Counsel, Corporate & Secretary Tony Malkin - Chairman & Chief Executive Officer Tom Durels - Executive Vice President, Real Estate Steve Horn - Executive Vice President, Chief Financial Officer & Chief Accounting Officer Christina Chiu - President Conference Call Participants Steve Sakwa - Evercore ISI John Kim - BMO Capital Markets Michael Griffin - Citi Blaine Heck - Wells Fargo Camille Bonnel - Bank of America Operator Greetings, and welcome to the Empire State Realty Trust First Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode.

Empire State Realty Trust, Inc. (ESRT) Q1 2024 Earnings Call Transcript

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets, and the Observatory deck attraction in ESRT's flagship Empire State Building – the “World's Most Famous Building”. The Company is a recognized leader in energy efficiency and indoor environmental quality. Today the Company reported its operational and financial results for the first qu.

Empire State Realty Trust Announces First Quarter 2024 Results

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) today published its annual Sustainability Report that highlights its continued proven leadership in environmental sustainability with exceptional achievements, targets, and progress against goals for emissions and energy reduction, water, waste, and indoor environmental quality as well as social and governance execution. “ESRT leads the industry in energy efficiency, sustainability, and healthy buildings with its forward-lo.

Empire State Realty Trust Publishes 2023 Sustainability Report with Major Achievements, Key Goals, and Transparent Metrics

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ESRT vs. OHI: Which Stock Is the Better Value Option?

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), today announced that it and its operating partnership, Empire State Realty OP, L.P. (the “Operating Partnership”), entered into a note purchase agreement to issue $225 million aggregate principal amount of green senior unsecured notes in a private placement transaction. The issuance consists of $155 million of 7.20% notes due in June 2029, $45 million of 7.32% notes due in June 2031, and $25 million of 7.41.

Empire State Realty Trust Announces Private Placement of $225 Million of Green Senior Unsecured Notes

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), today announced that it will hold its 2024 Annual Meeting of Shareholders (the “Annual Meeting) on Thursday, May 9, 2024 at 11:00 am ET. The board of directors established the close of business on Friday, March 1, 2024 as the record date for determining shareholders entitled to receive notice of and vote at the Annual Meeting. The meeting will be a hybrid in-person and virtual meeting and take place at Stat.

Empire State Realty Trust Announces Date of 2024 Annual Meeting of Shareholders

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U.S. equity markets declined this week while benchmark interest rates jumped to the highest level since November after stronger-than-expected employment data showed robust hiring trends in early 2024. Stagflation has crept back into the economic discussion over the past several weeks amid a resurgence in oil prices alongside economic data showing stubbornly lukewarm inflationary trends. Following two straight weeks of gains which had lifted the benchmark to record-highs, the S&P 500 declined by 0.9% this week. Real estate equities were among the laggards this week.

A Crude Problem

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ESRT or SHO: Which Is the Better Value Stock Right Now?

NEW YORK--(BUSINESS WIRE)--International WELL Building Institute (IWBI) – the global authority on healthy buildings, organizations and communities – and Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that the New York-based real estate company is among the first commercial office and multifamily portfolios in the U.S. to achieve the WELL Equity Rating through the IWBI's WELL at scale pathway. Additionally, ESRT received the 2023 IWBI Health-Safety Leadership Award for its prioriti.

Empire State Realty Trust Receives WELL Health-Safety Leadership Award; Becomes Among the First Commercial Office and Multifamily Portfolios in the U.S. to Achieve the WELL Equity Rating Through WELL at Scale

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) today announced that it achieved the 2024 ENERGY STAR Sustained Excellence Award from the U.S. Environmental Protection Agency and the U.S. Department of Energy (DOE) for the second consecutive year. The achievement highlights ESRT's consistent ENERGY STAR Partner of the Year recognition for outstanding leadership in environmental and public health initiatives, as 100% of the company's NYC commercial portfolio is ENERGY STA.

Empire State Realty Trust Achieves 2024 ENERGY STAR Sustained Excellence Award

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), today announced that it will release its first quarter 2024 financial results on Wednesday, April 24, 2024, after the close of markets on the New York Stock Exchange. A conference call will be held on Thursday, April 25, 2024, at 12:00 p.m. Eastern Time. During the conference call, the Company's officers will review first quarter performance, discuss recent events and conduct a question-and-answer period. T.

Empire State Realty Trust Announces Dates for First Quarter 2024 Earnings Release and Conference Call

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ESRT vs. SHO: Which Stock Is the Better Value Option?

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”) today announced that Empire State Realty OP, L.P., its operating partnership, has entered into a new credit facility in the principal amount of $715 million, which consists of a $620 million revolving credit facility and a $95 million term loan facility. The new revolving credit facility matures on March 8, 2029, inclusive of two six-month extension periods at the option of the Company, and replaces the exis.

Empire State Realty Trust Announces New $715 Million Credit Facility

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Like its peers, Empire State Realty Trust suffered greatly through the pandemic. But Empire State has done perhaps the best job of any NYC REIT of returning to pre-pandemic levels. It's now expanding and diversifying, leveraging its strong financial position. A massive buyback program could turbocharge returns going forward.

Empire State Realty Trust: A Bet On The Mean Reversion

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), today announced that its Board of Directors has declared a dividend of $0.035 per share for the first quarter of 2024, 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 unit.

Empire State Realty Trust Announces Dividend for First Quarter 2024

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), today announced that Anthony E. Malkin, Chairman and Chief Executive Officer and Christina Chiu, President, will present at the Citi 2024 Global Property CEO Conference on Tuesday, March 5th, 2024, at 8:50 AM Eastern time. For investors interested in listening to the roundtable discussion, a live audio-webcast in listen-only mode will be provided in the Investor Relations section of the Company's website at.

Empire State Realty Trust to Present at the Citi 2024 Global Property CEO Conference

Empire State Realty Trust, Inc. (ESRT) Q4 2023 Earnings Call Transcript

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that it signed a new 11-year office lease with Sol de Janeiro USA – a luxury skincare and beauty brand – for 57,203 square feet at One Grand Central Place. Sol de Janeiro is a subsidiary of French beauty brand L'Occitane, who recently signed a separate 9,497 square foot expansion and lease term extension on their existing 20,962 square foot space at ESRT's 111 W. 33rd Street. One Grand Central Place offers 5.

Sol de Janeiro USA Signs 57,203 Square Foot Lease at One Grand Central Place

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