|Bid||10.90 x 900|
|Ask||11.08 x 900|
|Day's Range||10.99 - 13.57|
|52 Week Range||5.19 - 13.57|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||27.96|
|Forward Dividend & Yield||0.42 (7.61%)|
|Ex-Dividend Date||Mar 13, 2020|
|1y Target Est||N/A|
Real estate investment trust (REIT) Empire State Realty Trust (NYSE: ESRT) is an office landlord with a little bit of exposure to ground-level retail. This is a fair question, but it misses the really big risk at this specific REIT. Here's the real elephant in the room when it comes to Empire State Realty Trust.
My favorite way to play it is New York City-based Empire State Realty Trust (NYSE: ESRT), owner of the iconic Empire State Building and a portfolio of other office properties in and around New York City. A September survey by Slack (NYSE: WORK) found that most people wanted the flexibility to work from home when needed, but didn't want to do so exclusively. In fact, tech heavyweights like Facebook (NASDAQ: FB) and Amazon (NASDAQ: AMZN) have leased new urban office space in recent months.
Why have office REITs done so well since vaccine data was announced, and is there still room to grow?