Last $16.43 USD
Change Today -0.08 / -0.48%
Volume 130.5K
ESRT On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 2:35 PM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).

empire state realty trust-a (ESRT) Snapshot

Open
$16.51
Previous Close
$16.51
Day High
$16.62
Day Low
$16.38
52 Week High
06/5/14 - $17.34
52 Week Low
10/9/13 - $12.65
Market Cap
1.6B
Average Volume 10 Days
586.5K
EPS TTM
--
Shares Outstanding
94.5M
EX-Date
06/11/14
P/E TM
--
Dividend
$0.34
Dividend Yield
1.52%
Current Stock Chart for EMPIRE STATE REALTY TRUST-A (ESRT)

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empire state realty trust-a (ESRT) Details

Empire State Realty Trust, Inc., a real estate investment trust (REIT), focuses on owning, managing, operating, and acquiring office and retail properties in Manhattan and the greater New York metropolitan area. It also intends to provide construction services to tenants and other entities. The company, formerly known as Empire Realty Trust, Inc., is based in New York, New York.

607 Employees
Last Reported Date: 03/24/14

empire state realty trust-a (ESRT) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $1.4M
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $653.8K
Chief of Property Operations & Leasing and Ex...
Total Annual Compensation: $603.8K
Executive Vice President, General Counsel and...
Total Annual Compensation: $503.8K
Compensation as of Fiscal Year 2013.

empire state realty trust-a (ESRT) Key Developments

Empire State Realty Trust, Inc. Leases Entire 33,214-Square-Foot 29th Floor of the Empire State Building to Bulova Corporation

Bulova Corporation has leased the entire 33,214-square-foot 29(th) floor of the Empire State Building, announced Empire State Realty Trust, Inc. Deborah van der Heyden and Paul Ferraro of JLL represented the tenant in the lease negotiations. Landlord representation was provided by Ryan Kass and Fred Posniak of ESRT, along with William Cohen, Jonathan Tootell and Shanae Ursini of Newmark Grubb Knight Frank. Amenities at the building include a 15,000-square-foot, tenant-only fitness center; State Grill and Bar, with private executive dining and event space (both opening this summer); a newly opened tenant-only conference center; multiple additional dining and food options; and a full complement of tenant services. The Empire State Building was recently certified Platinum by WiredNYC for its superior level of internet connectivity and diversity and access to fiber-based broadband.

Empire State Realty Trust, Inc. Announces Dividend for Second Quarter 2014, Payable on June 30, 2014

Empire State Realty Trust, Inc. announced that its Board of Directors has declared a dividend of $0.085 per share for the second quarter 2014, 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 Series ES, Series 250 and Series 60 operating partnership units and Series PR operating partnership units. The dividend will be payable in cash on June 30, 2014 to stockholders and unitholders of record at the close of business on June 13, 2014.

Empire State Realty Trust, Inc. Exercises Options to Acquire Interests in Two Manhattan Properties

Empire State Realty Trust, Inc. announced that it has exercised its options to purchase the ground and operating leases at 112 West 34th Street and the ground lease at 1400 Broadway (the option properties) for a total of approximately $734 million in cash, common stock and operating partnership (OP) units. The acquisitions are expected to close within 90 days, subject to customary closing conditions. The company will acquire the leaseholds under the terms of the option agreements which set the consideration to be paid to participants in cash, stock and units. 112 West 34th Street's leaseholds and fee title to a small contiguous property will be acquired for approximately $423.6 million, or approximately $570 per square foot, consisting of $87.7 million by assumption of existing mortgage debt, $115.5 million in cash and $220.4 million in shares of Class A and Class B common stock and Series PR OP units, based on the average closing price of ESRT Class A shares over a four-week period ending ten days prior to closing. 1400 Broadway's leasehold will be acquired for $310.0 million, or approximately $346 per square foot, consisting of $80.0 million by assumption of existing mortgage debt, $85.5 million in cash, and $144.5 million in shares of Class A and Class B common stock and Series PR OP units, based on the average closing price of ESRT Class A shares over a four-week period ending ten days prior to closing. Pursuant to the option agreements, the prices were determined by an independent appraisal process.

 

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Valuation ESRT Industry Range
Price/Earnings 20.3x
Price/Sales 3.7x
Price/Book 4.1x
Price/Cash Flow 12.7x
TEV/Sales NM Not Meaningful
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