Empire State Realty Trust: A Bet On The Mean Reversion

David Henderson/iStock via Getty Images Background Empire State Realty Trust, Inc. (NYSE:ESRT) is a US-based REIT operating mostly rental office space in Manhattan, New York City. Its most famous asset is the namesake Empire State Building, a landmark of the Big Apple. The trust owns several more buildings: It owns dozens of locations within the office, retail and residential spaces. Most buildings are situated in Manhattan or adjacent metro areas. For its most recent quarterly earnings reported, Empire ...