Observatory visitors collapsed 28.5% year-over-year to 450,000 as international tourism dried up, forcing the REIT to slash full-year Core FFO guidance to $0.75–$0.79 per share from $0.85–$0.89 and take a $166 million goodwill impairment charge, though office leasing spreads remained strong at 17.8% for the 20th straight quarter.
Empire State Realty Trust :
ESRT
ESRT
Stock Data
$4.72
$0.09 (1.94%)
Asset Type
Common Stock
Exchange
NYSE
Currency
USD
Country
USA
Sector
REAL ESTATE
Industry
REIT - DIVERSIFIED
Empire State Realty Trust Inc, based in New York City, specializes in owning and managing a mix of office, retail, and residential properties. Known for its commitment to energy efficiency and high indoor environmental quality, its crown jewel is the Empire State Building. This iconic structure is not only a key part of its portfolio but also houses the top-rated Observatory, a major tourist attraction. The company's real estate footprint includes millions of square feet in office and retail space, alongside hundreds of residential units.
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