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

Earnings data Q2 2021

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Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

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, Inc. (NYSE:ESRT ) Q1 2022 Earnings Conference Call April 28, 2022 12:00 PM ET Company Participants Tom Keltner - Executive Vice President & General Counsel Tony Malkin - Chairman, President & Chief Executive Officer Tom Durels - Executive Vice President, Real Estate Christina Chiu - Executive Vice President & Chief Financial Officer Conference Call Participants Steve Sakwa - Evercore Michael Bilerman - Citi Daniel Ismail - Green Street Operator Greetings, and welcome to the Empire State Realty Trust First Quarter 2022 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.

Empire State Realty Trust, Inc. (ESRT) CEO Tony Malkin on Q1 2022 Results - Earnings Call Transcript

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the "Company"), a NYC-focused REIT with office, retail and multifamily properties and the Empire State Building Observatory, today reported its operational and financial results for the first quarter of 2022. First Quarter 2022 and Recent Highlights Net Income of ($0.07) per fully diluted share. Core Funds From Operations (“Core FFO”) of $0.18 per fully diluted share in first quarter 2022, compared to $0.15 per fully dilut

Empire State Realty Trust Announces First Quarter 2022 Results and Provides 2022 Guidance

President Bill Clinton, Governor Kathy Hochul, and Mayor Eric Adams visited the Empire State Building to announce the new, free, online resource to implement successful net zero retrofits of existing commercial buildings Hi-res imagery/b-roll from today's event and tonight's Empire State Building lighting, as well as remarks by ESRT Chairman, President and CEO Anthony E. Malkin, can be downloaded here.

EMPIRE STATE REALTY TRUST SHARES GROUNDBREAKING 'EMPIRE BUILDING PLAYBOOK: AN OWNER'S GUIDE TO LOW CARBON RETROFITS' IN PARTNERSHIP WITH NYSERDA AND MAJOR NYC-BASED LANDLORDS

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P roject requires zero capital investment, will attract tenants, and benefit shareholders and the environment NEW YORK , April 7, 2022 /PRNewswire/ -- Empire State Realty Trust  (NYSE: ESRT) shared plans today for a community solar project at their 287,351 square foot office property at 500 Mamaroneck Avenue in Harrison, N.Y. The innovative property improvement will serve as a new revenue source, contracted for the next 25 years, with approximately forty percent of the monetary credits generated by the project allocated towards the ongoing cost to power the Westchester office building.

EMPIRE STATE REALTY TRUST ANNOUNCES COMMUNITY SOLAR PROJECT AT 500 MAMARONECK; WILL GENERATE MORE THAN DOUBLE THE BUILDING'S ENERGY NEEDS

After recently more than doubling its office footprint, Signature takes an additional  32,927 square feet NEW YORK , April 5, 2022 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) announced that Signature Bank, a New York-based full-service commercial bank, has expanded its footprint at 1400 Broadway for the third time. Signature has taken another full, 32,927 square feet for a total of 313,109 square feet.

SIGNATURE BANK GROWS AGAIN WITH EMPIRE STATE REALTY TRUST AT 1400 BROADWAY

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), a real estate investment trust with office, retail and multifamily properties in Manhattan and the greater New York metropolitan area, today announced that it will release its first quarter 2022 financial results on Wednesday, April 27, 2022 after close of markets on the New York Stock Exchange. A conference call will be held on Thursday, April 28, 2022 at 12:00 p.m. Eastern Time. During the conference call

Empire State Realty Trust Announces Dates for First Quarter 2022 Earnings Release and Conference Call

The average of price targets set by Wall Street analysts indicates a potential upside of 28.4% in Empire State Realty Trust (ESRT). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Wall Street Analysts Think Empire State Realty Trust (ESRT) Could Surge 28%: Read This Before Placing a Bet

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), a real estate investment trust with office, retail and multifamily properties in Manhattan and the greater New York metropolitan area, today announced that its Board of Directors has declared a dividend of $0.035 per share for the first quarter of 2022, 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, Serie

Empire State Realty Trust Announces Dividend for First Quarter 2022

NEW YORK, March 2, 2022 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) today announced a new lease with Progyny, Inc. a leading fertility benefits management company, at 1359 Broadway. Progyny has committed to occupy 70,573 square feet across three floors, which includes one floor that it previously subleased, one floor that Progyny will occupy in late 2022 and a third floor that they will occupy in early 2024.

EMPIRE STATE REALTY TRUST SIGNS PROGYNY, INC. FOR 70,573 SQUARE FEET ACROSS THREE FULL FLOORS AT 1359 BROADWAY

The mean of analysts' price targets for Empire State Realty Trust (ESRT) points to a 35.4% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Wall Street Analysts Believe Empire State Realty Trust (ESRT) Could Rally 35%: Here's is How to Trade

Empire State Realty Trust's (ESRT) CEO Tony Malkin on Q4 2021 Results - Earnings Call Transcript

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NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the "Company"), a real estate investment trust with office, retail and multifamily properties in Manhattan and the greater New York metropolitan area, today reported its operational and financial results for the fourth quarter of 2021. Fourth Quarter and Recent Highlights Earnings of ($0.02) per fully diluted share. Core Funds From Operations (“Core FFO”) of $0.18 per fully diluted share. Same-Store Property Cash Net Opera

Empire State Realty Trust Announces Fourth Quarter 2021 Results

This is the company's first major purchase in several years.

This Office REIT Just Bought 2 Apartment Buildings -- Here's Why

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This Office REIT Has 1 Big Differentiator From the Competition

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Here's Why This REIT Is Laser-Focused on Sustainability

Are urban offices dead? This executive doesn't think so.

Is Office Real Estate Still a Good Long-Term Investment?

NEW YORK, Feb. 1, 2022 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) announced today three new retail leases signed with AT&T Mobility, Subway, and Le Café Coffee at two of its New York City properties. 10 Union Square East AT&T Mobility signed its third lease with ESRT for a 3,077 square foot retail space in January 2022.

EMPIRE STATE REALTY TRUST SIGNS THREE NEW RETAIL TENANTS AT TWO NYC PROPERTIES

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To celebrate the Year of the Tiger, the building will shine red for its 22nd consecutive year NEW YORK, Jan. 28, 2022 /PRNewswire/ -- The Empire State Building (ESB) today announced a Lunar New Year celebration on Jan. 30 with a virtual lighting ceremony and reveal of a new, festive Fifth Avenue Lobby window installation to celebrate the Year of the Tiger. At 4:45 p.m.

EMPIRE STATE BUILDING TO CELEBRATE LUNAR NEW YEAR WITH VIRTUAL TOWER LIGHTING CEREMONY AND FESTIVE FIFTH AVENUE LOBBY WINDOW DISPLAY

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), a NYC-focused REIT that owns and manages a well-positioned property portfolio of office, retail and multifamily assets in Manhattan and the greater New York metropolitan area, today announced the 2021 tax treatment of the Company's Class A common stock distributions, as described below. The following table summarizes, for income tax purposes, the nature of the cash distributions paid by the Company to its s

Empire State Realty Trust Announces 2021 Tax Treatment of Its Distributions

NEW YORK, Jan. 24, 2022 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) today announced the appointment of Jordan Berger as vice president of leasing. With close to 20 years of experience in real estate, Berger will oversee leasing of ESRT's Manhattan office portfolio of modernized buildings and lead internal and external groups to develop and execute leasing strategies.

EMPIRE STATE REALTY TRUST ANNOUNCES JORDAN BERGER AS NEW VICE PRESIDENT OF LEASING

NEW YORK, Jan. 20, 2022 /PRNewswire/ --  Empire State Realty Trust, Inc.  (NYSE: ESRT) announced that it is one of four partners selected to receive a competitive grant in the first funding round of the Empire Building Challenge, a $50 million state initiative spearheaded by the New York State Energy Research and Development Authority (NYSERDA) to reduce 85 percent of greenhouse gas emissions by 2050. ESRT joins a select group of real estate peers in this commitment to carbon neutrality goals through investments and innovation in energy efficiency, electrification, energy storage, and retrofit projects.

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