Company authorizes new share repurchase program

  • Empire State Realty Trust approves $500M stock repurchase plan
  • Authorization runs from January 1, 2024 through December 31, 2025
  • Replaces existing authorization which expires this year
  • Market cap of $1.59 billion
  • 161.49 million shares outstanding
  • Public float of 131.52 million shares

Empire State Realty Trust has announced the approval of a $500 million stock repurchase plan. The authorization for the program will be effective from January 1, 2024 through December 31, 2025, replacing the existing authorization which is set to expire this year. With a market cap of $1.59 billion, the company has 161.49 million shares outstanding and a public float of 131.52 million shares.

Public Companies: Empire State Realty Trust (N/A)
Private Companies:
Key People:

Factuality Level: 8
Justification: The article provides factual information about Empire State Realty Trust’s board authorizing a share repurchase plan for up to $500 million. The details about the authorization period, the replacement of an existing authorization, and the company’s market cap, outstanding shares, and public float are also provided. The article does not contain any irrelevant or misleading information, sensationalism, redundancy, or opinion masquerading as fact. However, it lacks additional context or analysis, which prevents it from being a 10 in factuality level.

Noise Level: 7
Justification: The article provides information about Empire State Realty Trust’s share repurchase plan, including the amount authorized and the timeframe. It also includes details about the company’s market cap, outstanding shares, and public float. However, the article lacks analysis, evidence, or insights into the long-term trends or consequences of the share repurchase plan. It also does not provide any actionable insights or solutions for the reader.

Financial Relevance: Yes
Financial Markets Impacted: Empire State Realty Trust

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to a financial topic as it discusses Empire State Realty Trust’s share repurchase plan. However, there is no mention of any extreme event or its impact.

Reported publicly: www.marketwatch.com