Empire State of Mind: NYC REIT Cheat Code

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s