Empire State Realty Trust Inc Class A
ESRT: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| $9.90 | Brzwr | Rbbdspvnp |
Empire State Realty Will Benefit From Observatory Recovery
/author-service-images-prod-us-east-1.publishing.aws.arc.pub/morningstar/06b2be46-9454-4b31-8c0e-7e13c47e080c.jpg)
Business Strategy and Outlook
Empire State Realty is a REIT that owns and manages 10.1 million square feet of commercial real estate portfolio composed principally of office buildings in Manhattan and the greater New York area. Its office portfolio fetches lower rents and has higher vacancy rates, reflective of an older, less premium building stock. Management has successfully focused on redeveloping its older office properties in recent years by providing more amenities and aligning its portfolio to meet the maintainability requirements of its clients.
United States