Empire State Realty (ESRT) suspends 2020 dividends.

Empire State Realty Trust (ESRT) announced today that it has suspended Q3 and Q4 dividends for all classes of the company's common stock and operating partnership units.  The company said that it expects to have "no taxable income in 2020, and therefore no requirement to pay any dividend...in either the third or fourth quarter of 2020."

Empire State Realty is an NYC-based office REIT with an owned portfolio of 20 properties aggregating 10.1 million square feet. The company's flagship property is the iconic Empire State Building, which generated 33% of ESRT's rental revenues in 2019.  ESRT was taken public in 2013 and has a total market capitalization of approximately $4.6 billion.