Empire State Realty Trust's stock drops 30% in NYC

Empire State Realty Trust has seen its stock price fall by 30% recently. This decline comes despite an earlier positive outlook on the company’s valuable retail and office spaces in New York City. The trust, known by the ticker ESRT, has been closely watched by investors. Analysts previously rated it as a "hold," indicating cautious optimism about its future performance. However, the current sell-off highlights growing concerns in the market. The company has a strong portfolio, but the recent drop raises questions about its future. Investors are now reassessing their positions and waiting to see if the stock can recover.