Here's Why Empire State Realty Trust Is Soaring Friday

The stock market was having a strong day all around on Friday, with the S&P 500 higher by approximately 1% at 2 p.m. EST. However, some of the COVID-19 pandemic's most beaten-down real estate investment trusts (REITs) are leading the way higher today.

One particular standout is Empire State Realty Trust (NYSE: ESRT), a primarily office REIT that owns the iconic Empire State Building and a portfolio of other commercial properties in the New York City area. The stock was higher by 10% after rising as much as 13% earlier in the day.

Image source: Getty Images.

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Source Fool.com