Burlington Expands by 35,629 Square Feet in Fourth Expansion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 17 2026
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Should l Buy ESRT?
Source: Newsfilter
- Lease Expansion: Burlington Stores, Inc. signed a 35,629 square foot expansion lease at 1400 Broadway, increasing its total leased space to 206,392 square feet, demonstrating the company's ongoing demand and confidence in Manhattan office space.
- Renewal Agreement: Burlington also executed an early renewal for its existing 170,763 square foot space, indicating a long-term strategic commitment in the area and further solidifying its market position.
- Partnership Continuation: Nespresso renewed its lease for 41,835 square feet at 111 W. 33rd Street, reflecting the appeal of ESRT's high-quality office spaces and exceptional service, thereby strengthening its partnership with tenants.
- Market Performance: Since 2013, ESRT has seen over 3.2 million square feet of tenant expansions, showcasing its robust asset portfolio and market demand, which enhances the company's competitiveness in the real estate sector.
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Analyst Views on ESRT
Wall Street analysts forecast ESRT stock price to rise
5 Analyst Rating
2 Buy
2 Hold
1 Sell
Hold
Current: 5.730
Low
8.30
Averages
9.46
High
11.00
Current: 5.730
Low
8.30
Averages
9.46
High
11.00
About ESRT
Empire State Realty Trust, Inc. is a real estate investment trust (REIT), which owns and operates a portfolio of office, retail and multifamily assets. The Company’s portfolio consists of approximately 7.8 million rentable square feet of office space, 0.8 million rentable square feet of retail space and 732 residential units. Its office portfolio included 10 properties. Nine of these office properties are located in midtown Manhattan and encompass over 7.6 million rentable square feet of office space and 0.5 million rentable square feet of retail space, including the Empire State Building. The Company’s segments include Real Estate and an Observatory. The Real Estate segment includes all activities related to the ownership, management, operation, acquisition, repositioning and disposition of its office, retail and multifamily assets principally located in New York City. The Observatory segment operates the 86th and 102nd floor observatories in the Empire State Building.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Celebrating 100 Days to FIFA World Cup 2026
- Lighting Ceremony: The FIFA World Cup 2026 mascots and representatives from the U.S., Canada, and Mexico illuminated the Empire State Building to celebrate 100 days until the tournament, symbolizing unity among the three host nations.
- Historic Tournament Expansion: The 2026 World Cup will be the first hosted by three countries, expanding to 48 teams competing across 16 North American cities, marking a significant increase in the tournament's scale and reach.
- New York-New Jersey Hosting Role: The New York-New Jersey region will host multiple matches, including the final, expected to draw global fans and boost local economy and tourism, solidifying the region's position on the international sports stage.
- Cultural Icon of Empire State Building: As a globally recognized landmark, the Empire State Building not only serves as a tourist attraction but also enhances its cultural significance in New York City through its revamped observatory experience, welcoming millions of visitors annually.
See More
Celebrating 100 Days to FIFA World Cup 2026
- Lighting Ceremony Highlights: The mascots for the 2026 FIFA World Cup and representatives from the U.S., Canada, and Mexico participated in a lighting ceremony at the Empire State Building to celebrate 100 days until the tournament, symbolizing unity among the three host nations.
- Historic Event: The 2026 FIFA World Cup will be the first to be co-hosted by the U.S., Canada, and Mexico, expanding to 48 teams competing across 16 cities, marking a significant increase in the tournament's scale and reach.
- Enhanced Visitor Experience: The Empire State Building's observatory has undergone a $165 million redesign, featuring an interactive museum and a new observation deck, attracting millions of visitors and being ranked as New York City's top attraction for four consecutive years, thereby enhancing its commercial value.
- Economic Boost for Region: New Jersey will host eight World Cup matches, including the final, which is expected to draw fans from around the world, stimulating local economic growth and increasing regional visibility.
See More
Empire State Realty Trust Renewed WELL Health-Safety Rating for Fifth Time
- Health Safety Certification: Empire State Realty Trust (ESRT) has been awarded the WELL Health-Safety Leadership Award for the fifth consecutive year by the International WELL Building Institute, demonstrating its ongoing commitment to occupant health and well-being while reinforcing its industry-leading position in sustainability and indoor environmental quality.
- Comprehensive Certification Coverage: Since 2020, ESRT has achieved a 100% WELL Health-Safety Rating across its entire portfolio, showcasing its exceptional performance in health and safety standards, which enhances trust among tenants and employees.
- Sustainability Goals: In 2025, ESRT is focusing on science-based and ROI-driven sustainability goals, achieving Five Stars and an A rating, while also securing the highest GRESB management score among Americas' companies, further enhancing its competitive edge in the market.
- Transparency and Accountability: ESRT transparently shares its health and well-being targets and progress through its annual Sustainability Report, reflecting its leadership in promoting healthy buildings and setting a powerful example of a people-first organization.
See More
Empire State Building Launches First Children's Birthday Party Package
- First Children's Birthday Package: The Empire State Building has launched its first-ever children's birthday party package as part of its 95th anniversary celebrations, fulfilling parents' desires for unique birthday experiences and enhancing brand appeal.
- Rich Package Offerings: The package includes a guided tour, a private party room, a Ghirardelli sundae chef, artisanal snacks and drinks, accommodating 12 children and 3 adults, expandable to 25 guests, which enhances family gatherings' fun and interactivity.
- Advance Booking Requirement: To ensure the best experience, the package must be booked at least 28 days in advance and is available during specific hours on Saturdays and Sundays, increasing customer planning and engagement.
- Observatory Upgrade: The Empire State Building's observatory has undergone a $165 million upgrade, featuring a new interactive museum and redesigned 102nd-floor observatory, further enhancing visitor experience and satisfaction, solidifying its status as a top attraction in New York City.
See More
Empire State Realty Trust Declares Quarterly Dividend
- Quarterly Dividend Announcement: Empire State Realty Trust (ESRT) declares a quarterly dividend of $0.035 per share, consistent with previous distributions, indicating the company's stable cash flow and shareholder return strategy.
- Stable Yield: The forward yield of 2.36% reflects the company's attractiveness in the current market environment, potentially drawing more investor interest towards its stock.
- Record Date for Shareholders: The dividend will be payable on March 31, with a record date of March 13 and an ex-dividend date also on March 13, ensuring shareholders can receive their dividend payouts promptly.
- Future Earnings Guidance: ESRT signals a 2026 FFO guidance of $0.85 to $0.89 per share, indicating positive progress in the transformation of its NYC portfolio, which may lay the groundwork for future growth.
See More
Empire State Realty Trust Declares Q1 2026 Dividends
- Dividend Declaration: Empire State Realty Trust's Board of Directors has declared a dividend of $0.035 per share for Q1 2026, applicable to Class A and Class B common stockholders, reflecting the company's commitment to shareholder returns.
- Preferred Stock Dividends: Additionally, the board announced dividends of $0.15 and $0.175 per unit for ESRO's Series 2014 and Series 2019 preferred units for Q1 2026, enhancing the attractiveness of investments for preferred shareholders.
- Payment Schedule: All dividends will be paid in cash on March 31, 2026, with a record date of March 13, 2026, ensuring timely returns for shareholders and demonstrating effective cash flow management by the company.
- Portfolio Overview: As of December 31, 2025, Empire State Realty Trust's operating portfolio includes approximately 7.6 million square feet of office space and 0.8 million square feet of retail space, showcasing its strong position and growth potential in the New York City real estate market.
See More
Celebrating 100 Days to FIFA World Cup 2026
- Lighting Ceremony: The FIFA World Cup 2026 mascots and representatives from the U.S., Canada, and Mexico illuminated the Empire State Building to celebrate 100 days until the tournament, symbolizing unity among the three host nations.
- Historic Tournament Expansion: The 2026 World Cup will be the first hosted by three countries, expanding to 48 teams competing across 16 North American cities, marking a significant increase in the tournament's scale and reach.
- New York-New Jersey Hosting Role: The New York-New Jersey region will host multiple matches, including the final, expected to draw global fans and boost local economy and tourism, solidifying the region's position on the international sports stage.
- Cultural Icon of Empire State Building: As a globally recognized landmark, the Empire State Building not only serves as a tourist attraction but also enhances its cultural significance in New York City through its revamped observatory experience, welcoming millions of visitors annually.
See More
Celebrating 100 Days to FIFA World Cup 2026
- Lighting Ceremony Highlights: The mascots for the 2026 FIFA World Cup and representatives from the U.S., Canada, and Mexico participated in a lighting ceremony at the Empire State Building to celebrate 100 days until the tournament, symbolizing unity among the three host nations.
- Historic Event: The 2026 FIFA World Cup will be the first to be co-hosted by the U.S., Canada, and Mexico, expanding to 48 teams competing across 16 cities, marking a significant increase in the tournament's scale and reach.
- Enhanced Visitor Experience: The Empire State Building's observatory has undergone a $165 million redesign, featuring an interactive museum and a new observation deck, attracting millions of visitors and being ranked as New York City's top attraction for four consecutive years, thereby enhancing its commercial value.
- Economic Boost for Region: New Jersey will host eight World Cup matches, including the final, which is expected to draw fans from around the world, stimulating local economic growth and increasing regional visibility.
See More
Empire State Realty Trust Renewed WELL Health-Safety Rating for Fifth Time
- Health Safety Certification: Empire State Realty Trust (ESRT) has been awarded the WELL Health-Safety Leadership Award for the fifth consecutive year by the International WELL Building Institute, demonstrating its ongoing commitment to occupant health and well-being while reinforcing its industry-leading position in sustainability and indoor environmental quality.
- Comprehensive Certification Coverage: Since 2020, ESRT has achieved a 100% WELL Health-Safety Rating across its entire portfolio, showcasing its exceptional performance in health and safety standards, which enhances trust among tenants and employees.
- Sustainability Goals: In 2025, ESRT is focusing on science-based and ROI-driven sustainability goals, achieving Five Stars and an A rating, while also securing the highest GRESB management score among Americas' companies, further enhancing its competitive edge in the market.
- Transparency and Accountability: ESRT transparently shares its health and well-being targets and progress through its annual Sustainability Report, reflecting its leadership in promoting healthy buildings and setting a powerful example of a people-first organization.
See More
Empire State Building Launches First Children's Birthday Party Package
- First Children's Birthday Package: The Empire State Building has launched its first-ever children's birthday party package as part of its 95th anniversary celebrations, fulfilling parents' desires for unique birthday experiences and enhancing brand appeal.
- Rich Package Offerings: The package includes a guided tour, a private party room, a Ghirardelli sundae chef, artisanal snacks and drinks, accommodating 12 children and 3 adults, expandable to 25 guests, which enhances family gatherings' fun and interactivity.
- Advance Booking Requirement: To ensure the best experience, the package must be booked at least 28 days in advance and is available during specific hours on Saturdays and Sundays, increasing customer planning and engagement.
- Observatory Upgrade: The Empire State Building's observatory has undergone a $165 million upgrade, featuring a new interactive museum and redesigned 102nd-floor observatory, further enhancing visitor experience and satisfaction, solidifying its status as a top attraction in New York City.
See More
Empire State Realty Trust Declares Quarterly Dividend
- Quarterly Dividend Announcement: Empire State Realty Trust (ESRT) declares a quarterly dividend of $0.035 per share, consistent with previous distributions, indicating the company's stable cash flow and shareholder return strategy.
- Stable Yield: The forward yield of 2.36% reflects the company's attractiveness in the current market environment, potentially drawing more investor interest towards its stock.
- Record Date for Shareholders: The dividend will be payable on March 31, with a record date of March 13 and an ex-dividend date also on March 13, ensuring shareholders can receive their dividend payouts promptly.
- Future Earnings Guidance: ESRT signals a 2026 FFO guidance of $0.85 to $0.89 per share, indicating positive progress in the transformation of its NYC portfolio, which may lay the groundwork for future growth.
See More
Empire State Realty Trust Declares Q1 2026 Dividends
- Dividend Declaration: Empire State Realty Trust's Board of Directors has declared a dividend of $0.035 per share for Q1 2026, applicable to Class A and Class B common stockholders, reflecting the company's commitment to shareholder returns.
- Preferred Stock Dividends: Additionally, the board announced dividends of $0.15 and $0.175 per unit for ESRO's Series 2014 and Series 2019 preferred units for Q1 2026, enhancing the attractiveness of investments for preferred shareholders.
- Payment Schedule: All dividends will be paid in cash on March 31, 2026, with a record date of March 13, 2026, ensuring timely returns for shareholders and demonstrating effective cash flow management by the company.
- Portfolio Overview: As of December 31, 2025, Empire State Realty Trust's operating portfolio includes approximately 7.6 million square feet of office space and 0.8 million square feet of retail space, showcasing its strong position and growth potential in the New York City real estate market.
See More
