New York, New York
I want to wake up in a city that never sleeps
And find I’m a number one, top of the list
King of the hill, a number one
-Frank Sinatra
Since the spring of 2015 I have had the pleasure of visiting New York City. It was always interesting watching television and films centered on New York City. Growing up in the south I always wondered what it would be like to visit New York or live in New York City. As we all know New York City is a hub for business, sports, music, and popular culture. With that being said New York City is known for great business opportunities. Recently I find out that Empire State Realty Trust, Inc. also known as ESRT (NYSE) currently has a stock price of $5.95. So I just purchased some shares and now own a piece of the Empire State Building. Empire State Realty Trust, Inc. is a REIT company. So I am sure you are wondering. What is a REIT? A REIT is a real estate investment trust is a company that owns, an din most cases operates income-producing real estate, ranging from office and apartment buildings to warehouse, hospitals, shopping centers, hotels, and commercial forests. Said differently, it is a professionally landlord that manages the space.
“REITS are required to pay 90% of their earnings in dividends.” -Phillip Michael, CEO NYCE
More About Empire State Realty Trust, Inc.
Empire State Realty Trust, Inc. traces its rich heritage back through its predecessor Malkin Holdings LLC, whose leadership in real estate goes back to the creation of a realty syndicate by Lawrence A. Wien in 1934. The Manhattan Office properties that are included in its initial portfolio stand as treatment to its pedigree of leadership in real estate.
Founded: 2013
Headquarters: United States, NYC
Subsidiaries: Empire State Realty, OP, ESRT Observatory TRS, L.L.C., ESRT 1359 Broadway, L.L.C. ESRT 400 Broadway, L.P. 1333 Broadway Associates LLC, ESRT Captive Insurance Company
Company Type: REIT
Listing Status: Public
Investment Sector: Equity
Ticker: ESRT
Industry Sector: Office
Exchange: New York Stock Exchange Inc.
Previous Quarter Dividend: $0.11
Yield: 6.99%
Find out more here https://www.empirestaterealtytrust.com/
Wealth Always Reigns Supreme
