Empire State Realty Trust

Empire State Realty Trust, Inc. is a real estate investment trust, which engages in owning, managing, acquiring, and repositioning office and retail properties. It operates through the Real Estate and Observatory segments. The Real Estate segment includes ownership, management, operation, acquisition, repositioning, and disposition of real estate assets. The Observatory segment manages observatories at the Empire state building. The company was founded on July 29, 2011 and is headquartered in New York, NY.

Earnings data Q1 2021

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Earnings data Q3 2024

Earnings data Q4 2024

Empire State Realty Trust reports robust performance and growth opportunities

ESRT's Q4 2022 performance showcased strong leasing results, sustainability achievements, and a focus on energy-efficient buildings.
The company's strengths lie in its quality customer experience, solid balance sheet, and strategic capital recycling activities.
Challenges include managing operating expenses, revenue fluctuations, and potential market trend shifts.
ESRT has opportunities for growth in multi-family properties, New York City real estate, and optimizing its operational strategies.

Empire State Realty Trust (ESRT) reports strong Q1 performance

Empire State Realty Trust (ESRT) delivered a solid performance in Q1 2023, with strong leasing activity and Observatory results driving overall performance. The company's balance sheet strength and focus on modernization position it well for future growth.
ESRT faces challenges from potential distress transactions in the office sector and market forces affecting financing availability. However, the company's low debt levels and strategic approach provide resilience in navigating challenges.
Opportunities lie in ESRT's focus on New York City properties, attracting diverse tenants, and potential distress transactions for strategic acquisitions. The company's positive guidance and preparedness to capitalize on opportunities showcase a proactive stance towards growth.

ESRT excels in Q2, poised for growth amidst NYC resilience

ESRT delivered a strong quarter with robust financial performance and operational achievements.
The company's strategic focus on modernization and tenant diversification positions it well for future growth.
Challenges in decision-making speed and market dynamics require ongoing attention, while opportunities in leasing and visibility offer avenues for expansion.

Empire State Realty Trust excels in Q3, eyes NYC property growth

Empire State Realty Trust's Q3 performance showcases operational excellence, financial strength, and strategic growth initiatives. Despite challenges in capital markets, the company remains well-positioned to capitalize on opportunities in NYC real estate.

Empire State Realty Trust excels in Q4 2023 earnings call

ESRT's Q4 2023 performance reflects operational strength, robust financial metrics, and promising growth prospects, underpinned by strategic leasing initiatives and market positioning.
Despite potential challenges in lease management and capital decisions, ESRT's strong portfolio value, tenant relationships, and financial outlook offer a solid foundation for future success.
By leveraging opportunities in leasing, sustainability efforts, and strategic planning, ESRT can navigate challenges, drive growth, and enhance shareholder value in the real estate market.

Empire State Realty Trust reports robust Q1 results and growth outlook

ESRT's Q1 performance reflects strong leasing momentum and balance sheet enhancements. Challenges in specific properties are being addressed with confidence in overall leasing activity. The company's focus on growth and operational efficiency sets the stage for shareholder value creation in 2024.

Empire State Realty Trust (ESRT) reports solid Q2 performance

ESRT's Q2 2024 earnings call highlighted a robust performance, emphasizing leasing strength and operational growth. While facing challenges such as lower visitor counts and strategic decision-making, the company remains well-positioned to leverage opportunities in the market.

Empire State Realty Trust (ESRT) reports strong Q3 performance and outlines growth strategies

Empire State Realty Trust (ESRT) delivered a strong performance in Q3 2024, showcasing leasing success, retail acquisitions, and positive portfolio absorption. While facing challenges related to tenant renewals and market uncertainties, ESRT remains well-positioned to capitalize on growth opportunities and create shareholder value through strategic asset management.

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Empire State Realty Trust has surged 16% in the past year, driven by Manhattan's office market recovery and increasing return-to-office mandates. ESRT's fiscal 2024 third-quarter revenue rose 4.2% year-over-year, fueled by its diversified portfolio, including the iconic Empire State Building. The REIT's strong FFO growth, record free cash flow, and strategic acquisitions position it well for future expansion and increased occupancy rates.

Empire State Realty Trust Is A Way To Go Long New York City

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Most US office REITs ended Q3 with weaker operating metrics compared with the previous 3-month period, as demand for offices continued to drop amid higher rent. In terms of recurring EBITDA, 13 office REITs reported quarter-over-quarter declines during the third quarter, while eight recorded gains. US office REIT stocks outperformed the Dow Jones Equity All REIT Index during the third quarter as well as the S&P 500.

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NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust Announces Dividend for Fourth Quarter 2024.

Empire State Realty Trust Announces Dividend for Fourth Quarter 2024

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The REIT sector snapped a 5-month winning streak with a -3.42% average total return in October. Micro cap (-2.04%) and mid-cap (-2.30%) REITs averaged modest declines in October, while large caps (-3.89%) and small caps (-4.62%) were deeper in the red. 72.90% of REIT securities had a negative total return in October.

The State Of REITs: November 2024 Edition

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) announced last week that it signed a full floor, 26,782 square foot expansion lease with law firm Hecker Fink LLP for a total of 53,779 square feet of office space across two floors at the iconic Empire State Building (ESB). "We're excited to expand to a second floor of the Empire State Building, an iconic building that has been our home for the past seven years,” said Sean Hecker and Julie Fink, founding partners, Hecker F.

Hecker Fink LLP Expands 26,782 Square Feet with Empire State Realty Trust for a Total of 54k Square Feet at the Empire State Building

Empire State Realty Trust, Inc. (NYSE:ESRT ) Q3 2024 Earnings Conference Call October 22, 2024 12:00 PM ET Company Participants Jason McGrath – Senior Associate Investor Relations Tony Malkin – Chairman and Chief Executive Officer Tom Durels – Executive Vice President-Real Estate Christina Chiu – President Steve Horn – Executive Vice President, Chief Financial Officer and Chief Accounting Officer Conference Call Participants Steve Sakwa – Evercore ISI John Kim – BMO Capital Markets Blaine Heck – Wells Fargo Michael Griffin – Citi Dylan Burzinski – Green Street John Kim – BMO Capital Markets Operator Greetings, and welcome to the Empire State Realty Trust Third Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode.

Empire State Realty Trust, Inc. (ESRT) Q3 2024 Earnings Call Transcript

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. ESRT's flagship Empire State Building, the “World's Most Famous Building,” features its iconic Observatory that was declared the #1 Attraction in the World – and the #1 Attraction in the U.S. for the third consecutive year– in Tripadvisor's 2024 Travelers' Choice Awards: Best of the Be.

Empire State Realty Trust Announces Third Quarter 2024 Results

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that it achieved the highest possible Global Real Estate Sustainability Benchmark (GRESB) 5 Star Rating for the fifth consecutive year with a score of 93. ESRT's overall score ranked first of all listed companies in the Americas and first in the most competitive peer group within the U.S. “ESRT is an industry leader in energy efficiency, sustainability, and indoor environmental quality, and that is reflected.

Empire State Realty Trust Ranks First of All Americas' Listed Companies for Second Consecutive Year and Achieves Top GRESB 5 Star Rating

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that it welcomed four new tenants to its retail portfolio and plans to open a new ticketing center at the world-famous Empire State Building Observatory. ESRT expanded its curated food and beverage offerings with Alidoro, an Italian specialty sandwich shop, and Omakase restaurant Roppongi 37. Alidoro signed a new lease for a 1,156 square foot space at the Empire State Building. They will join other retailers.

Empire State Realty Trust Welcomes Four New Tenants to Its Retail Portfolio; Adds New ESB Observatory Ticketing Center

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), today announced that it will release its third quarter 2024 financial results on Monday, October 21, 2024, after the close of markets on the New York Stock Exchange. A conference call will be held on Tuesday, October 22, 2024, at 12:00 p.m. Eastern Time. During the conference call, the Company's officers will review third quarter performance, discuss recent events and conduct a question-and-answer period. T.

Empire State Realty Trust Announces Dates for Third Quarter 2024 Earnings Release and Conference Call

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Investors interested in REIT and Equity Trust - Other stocks are likely familiar with Empire State Realty Trust (ESRT) and National Health Investors (NHI). But which of these two stocks is more attractive to value investors?

ESRT vs. NHI: Which Stock Is the Better Value Option?

Empire State Realty Trust offers investors exposure to NYC real estate, including office, retail, and multifamily properties, and the iconic Empire State Building. The REIT's diverse portfolio includes significant rentable office and retail space, along with 727 residential units, providing a balanced investment opportunity. Q2'24 results came in better than expected and the near-term outlook looks strong with occupancy gains ahead for the office portfolio.

Empire State Realty Trust: Expensive Valuation, Wait For A Better Entry Point

Investors with an interest in REIT and Equity Trust - Other stocks have likely encountered both Empire State Realty Trust (ESRT) and National Health Investors (NHI). But which of these two stocks offers value investors a better bang for their buck right now?

ESRT vs. NHI: Which Stock Should Value Investors Buy Now?

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Investors interested in stocks from the REIT and Equity Trust - Other sector have probably already heard of Empire State Realty Trust (ESRT) and CubeSmart (CUBE). But which of these two stocks presents investors with the better value opportunity right now?

ESRT or CUBE: Which Is the Better Value Stock Right Now?

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (“ESRT”) and Empire State Realty OP, L.P. (“ESROP” and together with ESRT, the “Issuers”), today announced that, as previously disclosed in the Notification of Late Filing on Form 12b-25 filed by each Issuer with the Securities and Exchange Commission (“SEC”) on August 12, 2024, each Issuer has determined that it is unable to file its Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2024 (the “Form 10-Q”).

Empire State Realty Trust Receives Expected Notice From NYSE Related to Delayed Filing of Quarterly Report on Form 10-Q

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We have screened bargain stocks MHO, NHYDY, GBX, HPE and ESRT based on the EV-to-EBITDA ratio, which offers a clearer picture of valuation and earnings potential.

Pick These 5 Bargain Stocks With Alluring EV-to-EBITDA Ratios

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), today announced that its Board of Directors has declared a dividend of $0.035 per share for the third quarter of 2024, payable to holders of the Company's Class A common stock and Class B common stock and to holders of Empire State Realty OP, L.P.'s (“ESRO”) Series ES, Series 250 and Series 60 operating partnership units (NYSE Arca: ESBA, FISK and OGCP, respectively) and Series PR operating partnership unit.

Empire State Realty Trust Announces Dividend for Third Quarter 2024

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that it signed two new, full-floor office leases with the William Carter Company (Carter's) and Equativ for a total of 49,095 square feet at 1350 Broadway. Carter's – a children's apparel company – signed a new lease for a 24,592 square foot space across a full floor, and ad tech company Equativ signed on for a full-floor, 24,503 square foot space. "We are pleased to announce our move to a new and enhanced l.

ESRT Signs the William Carter Company and Equativ for 49k Square Feet at 1350 Broadway

Empire State Realty Trust, Inc. (NYSE:ESRT ) Q2 2024 Results Conference Call July 25, 2024 12:00 PM ET Company Participants Heather Houston - Senior Vice President, Chief Counsel, Corporate & Secretary Tony Malkin - Chairman & Chief Executive Officer Tom Durels - Executive Vice President, Real Estate Steve Horn - Executive Vice President, Chief Financial Officer & Chief Accounting Officer Christina Chiu - President Conference Call Participants Steve Sakwa - Evercore John Kim - BMO Capital Markets Michael Griffin - Citi Blaine Heck - Wells Fargo Camille Bonnel - Bank of America Dylan Burzinski - Green Street Operator Greetings, and welcome to the Empire State Realty Trust Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.

Empire State Realty Trust, Inc. (ESRT) Q2 2024 Earnings Call Transcript

Empire State Realty Trust Announces Second Quarter 2024 Results

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), today announced that its 2023 Schedule K-3 reflecting items of international tax relevance is available online. Unitholders requiring this information may access their Schedule K-3s at www.taxpackagesupport.com/esrop. Certain shareholders (primarily non-U.S. shareholders, shareholders computing a foreign tax credit on their tax return and certain corporate and/or partnership shareholders) may need the infor.

Empire State Realty Trust Announces Release of Schedule K-3

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that it signed a new lease with global management consulting firm Kearney for a 27,866 square foot duplex on the two highest office floors at the Empire State Building (ESB), the “World's Most Famous Building.” “Kearney is proud to base our New York team in the Empire State Building,” said Candice Yee, Lead Partner of Kearney's New York office. “We are excited to mark our 100-year anniversary in a landmark b.

Kearney Signs 27,866 Square Foot Duplex Lease for the Empire State Building's Highest Office Floors

NEW YORK--(BUSINESS WIRE)--The Empire State Building (ESB) announced today that it was named the #1 Attraction in the World in Tripadvisor's 2024 Travelers' Choice Awards: Best of the Best Things to Do, and #1 Attraction in the U.S. for the third consecutive year. The Empire State Building Observatory has more than 60,000 5-star reviews. Guests say they are wowed by the authenticity of the “World's Most Famous Building,” its interactive exhibits, and incredible views. Reviewers deem a visit to.

The Empire State Building Observatory #1 Attraction in the World in Tripadvisor 2024 Travelers' Choice Awards

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), today announced that it will release its second quarter 2024 financial results on Wednesday, July 24, 2024, after the close of markets on the New York Stock Exchange. A conference call will be held on Thursday, July 25, 2024, at 12:00 p.m. Eastern Time. During the conference call, the Company's officers will review second quarter performance, discuss recent events and conduct a question-and-answer period. T.

Empire State Realty Trust Announces Dates for Second Quarter 2024 Earnings Release and Conference Call

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