Empire State Realty Trust, Inc. (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the ÂWorld's Most Famous Building. Headquartered in New York, New York, the Company's office and retail portfolio covers 10.1 million rentable square feet, as of September 30, 2020, consisting of 9.4 million rentable square feet in 14 office properties, including nine in Manhattan, three in Fairfield County, Connecticut, and two in Westchester County, New York; and approximately 700,000 rentable square feet in the retail portfolio. Long the leader in energy efficiency retrofits and Indoor Environmental Quality, Empire State Realty Trust is the first commercial real estate portfolio in the U.S. to achieve the WELL Health-Safety Rating.
IPO Year: 2013
Exchange: NYSE
Website: empirestaterealtytrust.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/27/2023 | Outperform → In-line | Evercore ISI | |
| 5/23/2023 | $7.00 → $8.00 | In-line → Outperform | Evercore ISI |
| 4/12/2023 | $8.00 → $7.00 | Outperform → In-line | Evercore ISI |
| 3/3/2023 | $9.00 | Market Perform → Outperform | BMO Capital Markets |
| 3/1/2023 | $9.25 | Neutral → Buy | BofA Securities |
| 8/1/2022 | Outperform → Peer Perform | Wolfe Research | |
| 7/14/2022 | $7.50 → $8.00 | Underperform → Market Perform | BMO Capital Markets |
| 5/2/2022 | $11.00 | In-line → Outperform | Evercore ISI |
| 3/7/2022 | $8.00 | Market Perform → Underperform | BMO Capital |
| 1/13/2022 | $13.00 → $8.00 | Overweight → Underweight | Keybanc |
– Net Income Per Fully Diluted Share of $0.08 – – Core FFO Per Fully Diluted Share of $0.26 – – Signed 304,000 Rentable Square Feet of Leases – – Closed on $143 Million of Previously Announced $195 Million Retail Acquisition in Williamsburg, Brooklyn – – Announces Agreement to Acquire Additional Retail Asset on North 6th Street Williamsburg, Brooklyn– – Over $0.9 Billion of Liquidity, No Floating Rate Debt Exposure – – 2024 FFO Guidance Raised – 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
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. The earnings release, supplemental and investor presentation will be available prior to the quarterly conference call on the Company's website, www.esrtreit.com, under "Quarterly Results" in the "Investors" section. Webcast Th
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:ESBA, FISK and OGCP, respectively))) and Series PR operating partnership units. The Board of Directors has declared a dividend of $0.15 per unit for the third quarter of 2024, payable to holders of ESRO's Series 2014 Private Perpetual Preferred Units, and a dividend of $0.175 per unit for the second quarte
– Net Income Per Fully Diluted Share of $0.10 – – Core FFO Per Fully Diluted Share of $0.24 – – Signed 272,000 Rentable Square Feet of Leases – – Announces Agreements to Acquire North 6th Street Williamsburg, Brooklyn Retail – – 10th Quarter of Positive Leased Absorption – – 12th Quarter of Positive Leasing Spreads – – Over $1.0B of Liquidity, No Floating Rate Debt Exposure – – Reaffirms 2024 FFO Guidance – 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
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. The earnings release, supplemental and investor presentation will be available prior to the quarterly conference call on the Company's website, www.esrtreit.com, under "Quarterly Results" in the "Investors" section. Webcast
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 second 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:ESBA, FISK and OGCP, respectively))) and Series PR operating partnership units. The Board of Directors has declared a dividend of $0.15 per unit for the second quarter of 2024, payable to holders of ESRO's Series 2014 Private Perpetual Preferred Units, and a dividend of $0.175 per unit for the second quar
– Net Income Per Fully Diluted Share of $0.03 – – Core FFO Per Fully Diluted Share of $0.21 – – Signed 248,000 Rentable Square Feet of Leases – – Closed New Credit Facility, over $800M of Liquidity, No Floating Rate Debt Exposure – – Reaffirms 2024 Outlook – 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, and the Observatory deck attraction in ESRT's flagship Empire State Building – the "World's Most Famous Building". The Company is a recognized leader in energy efficiency and indoor environmental quality. Today the Company reported its operation
Empire State Realty Trust, Inc. (NYSE:ESRT) (the "Company"), today announced that it will hold its 2024 Annual Meeting of Shareholders (the "Annual Meeting) on Thursday, May 9, 2024 at 11:00 am ET. The board of directors established the close of business on Friday, March 1, 2024 as the record date for determining shareholders entitled to receive notice of and vote at the Annual Meeting. The meeting will be a hybrid in-person and virtual meeting and take place at State Grill, 21 West 33rd Street, New York, NY 10118 and via audio webcast. Further information regarding the Annual Meeting is set forth in the 2024 proxy statement, which is available on our website at investors.esrtreit.com and f
Empire State Realty Trust, Inc. (NYSE:ESRT) (the "Company"), today announced that it will release its first quarter 2024 financial results on Wednesday, April 24, 2024, after the close of markets on the New York Stock Exchange. A conference call will be held on Thursday, April 25, 2024, at 12:00 p.m. Eastern Time. During the conference call, the Company's officers will review first quarter performance, discuss recent events and conduct a question-and-answer period. The earnings release, supplemental and investor presentation will be available prior to the quarterly conference call on the Company's website, www.esrtreit.com, under "Quarterly Results" in the "Investors" section. Webcast
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 first 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:ESBA, FISK and OGCP, respectively))) and Series PR operating partnership units. The Board of Directors has declared a dividend of $0.15 per unit for the first quarter of 2024, payable to holders of ESRO's Series 2014 Private Perpetual Preferred Units, and a dividend of $0.175 per unit for the first quarter
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). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241029236821/en/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 (Photo: Business Wire) "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 S
Empire State Realty Trust. Inc. announced today that Bloomsbury Publishing, Inc. – leading independent publishing house with notable works which include the "Harry Potter" and "Crescent City" series – signed a new 24,209 square foot lease for office space at 1359 Broadway. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241024189689/en/(Photo: Business Wire) "As a previous tenant of 1400 Broadway, I cannot wait to be back in an ESRT building with Bloomsbury Publishing," said Sabrina McCarthy, president of Bloomsbury U.S. "ESRT was an incredible partner for my previous employer, and I am beyond thrilled that they found Bloomsbury a
Now Part of 65,000 Square Feet of Tenants-Only Amenities on the Building's Club Level Which Include the 15,000 Square Feet Fitness Club in addition to the Tenants-Only 67th Floor Conference Center, and Extensive Food and Beverage Offerings for Tenants Empire State Building (ESB) announced today the opening of the Empire Lounge – 10,000 square feet of new amenities on the building's Club Level. The Lounge is available for everyday tenant use and features 17.5-foot vaulted ceilings, a variety of comfortable seating areas in tables, banquettes, and couches as well as phone booths for private communication. The Lounge includes a basketball/pickleball court for the exclusive use of the ESB's Fi
– Net Income Per Fully Diluted Share of $0.08 – – Core FFO Per Fully Diluted Share of $0.26 – – Signed 304,000 Rentable Square Feet of Leases – – Closed on $143 Million of Previously Announced $195 Million Retail Acquisition in Williamsburg, Brooklyn – – Announces Agreement to Acquire Additional Retail Asset on North 6th Street Williamsburg, Brooklyn– – Over $0.9 Billion of Liquidity, No Floating Rate Debt Exposure – – 2024 FFO Guidance Raised – 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
New tenants include Alidoro at the Empire State Building, Wells Fargo and Dave & Adams at 1350 Broadway, and Roppongi 37 at 501 Seventh Ave 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. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241007500418/en/New tenants include Alidoro at the Empire State Building, Wells Fargo and Dave & Adams at 1350 Broadway, and Roppongi 37 at 501 Seventh Ave (Photo: Business Wire) ESRT expanded its curated food and beverage offerings wi
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. The earnings release, supplemental and investor presentation will be available prior to the quarterly conference call on the Company's website, www.esrtreit.com, under "Quarterly Results" in the "Investors" section. Webcast Th
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") by the prescribed due date because subsequent to the filing of the Issuers' Form 10-Ks for the period ended December 31, 2023, the filing of the Issuers' Form 10-Qs for the quarterly period ended March 31, 2024 and the Issuers'
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:ESBA, FISK and OGCP, respectively))) and Series PR operating partnership units. The Board of Directors has declared a dividend of $0.15 per unit for the third quarter of 2024, payable to holders of ESRO's Series 2014 Private Perpetual Preferred Units, and a dividend of $0.175 per unit for the second quarte
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. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240731887194/en/ESRT Signs the William Carter Company and Equativ for 49k Square Feet at 1350 Broadway (Photo: Business Wire) 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
Vhagar lives on. The Empire State Building (ESB) announced today that it partnered with Max to donate 18,000 square feet of fabric from Vhagar – the 270-foot dragon that perched on its mast as part of the HBO® Original series "House of the Dragon" takeover last month – to create limited-edition recycled tote bags by Sea Bags. A portion of the proceeds will be donated by Sea Bags to the Ocean Conservancy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240729126579/en/Empire State Building Partners with Sea Bags and Max to Transform Fabric from 270-Foot Dragon into Recycled Tote Bags (Photo: Business Wire) "The Empire State Buildi
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Evercore ISI downgraded Empire State Realty Trust from Outperform to In-line
Evercore ISI upgraded Empire State Realty Trust from In-line to Outperform and set a new price target of $8.00 from $7.00 previously
Evercore ISI downgraded Empire State Realty Trust from Outperform to In-line and set a new price target of $7.00 from $8.00 previously
BMO Capital Markets upgraded Empire State Realty Trust from Market Perform to Outperform and set a new price target of $9.00
BofA Securities upgraded Empire State Realty Trust from Neutral to Buy and set a new price target of $9.25
Wolfe Research downgraded Empire State Realty Trust from Outperform to Peer Perform
BMO Capital Markets upgraded Empire State Realty Trust from Underperform to Market Perform and set a new price target of $8.00 from $7.50 previously
Evercore ISI upgraded Empire State Realty Trust from In-line to Outperform and set a new price target of $11.00
BMO Capital downgraded Empire State Realty Trust from Market Perform to Underperform and set a new price target of $8.00
Keybanc downgraded Empire State Realty Trust from Overweight to Underweight and set a new price target of $8.00 from $13.00 previously
Empire State Realty Trust (NYSE:ESRT) reported quarterly earnings of $0.24 per share which met the analyst consensus estimate. This is a 7.69 percent decrease over earnings of $0.26 per share from the same period last year. The company reported quarterly sales of $152.470 million which missed the analyst consensus estimate of $189.402 million by 19.50 percent. This is a 1.38 percent decrease over sales of $154.603 million the same period last year.
BMO Capital analyst John Kim maintains Empire State Realty Trust (NYSE:ESRT) with a Outperform and raises the price target from $11 to $12.
Empire State Realty Trust (NYSE:ESRT) reported quarterly earnings of $0.21 per share which beat the analyst consensus estimate of $0.19 by 10.53 percent. This is a 31.25 percent increase over earnings of $0.16 per share from the same period last year. The company reported quarterly sales of $153.882 million which missed the analyst consensus estimate of $174.385 million by 11.76 percent. This is a 9.84 percent increase over sales of $140.091 million the same period last year.
Empire State Realty Trust, Inc. (NYSE:ESRT) announced today that it signed a new 11-year office lease with Sol de Janeiro USA – a luxury skincare and beauty brand – for 57,203 square feet at One Grand Central Place. Sol de Janeiro is a subsidiary of French beauty brand L'Occitane, who recently signed a separate 9,497 square foot expansion and lease term extension on their existing 20,962 square foot space at ESRT's 111 W. 33rd Street.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240221089922/en/One Grand Central Place offers 55 stories of modernized, amenitized office space near New York City's top dining, lodging, and entertainm
Chiu previously served as Executive Vice President, Chief Operating Officer & Chief Financial Officer; Horn previously served as Senior Vice President, Chief Accounting OfficerEmpire State Realty Trust, Inc. (NYSE:ESRT) announced today that Executive Vice President, Chief Operating Officer & Chief Financial Officer Christina Chiu has been promoted to President. Anthony E. Malkin will continue to serve as Chairman and Chief Executive Officer. Additionally, Senior Vice President, Chief Accounting Officer Stephen V. Horn has been promoted to Executive Vice President, Chief Financial Officer & Chief Accounting Officer.This press release features multimedia. View the full release here: https://ww
Empire State Realty Trust (NYSE:ESRT) reported quarterly earnings of $0.25 per share which beat the analyst consensus estimate of $0.21 by 19.05 percent. The company reported quarterly sales of $151.17 million which missed the analyst consensus estimate of $186.47 million by 18.93 percent. This is a 3.61 percent increase over sales of $145.91 million the same period last year.
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. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240731887194/en/ESRT Signs the William Carter Company and Equativ for 49k Square Feet at 1350 Broadway (Photo: Business Wire) 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
The Empire State Building "Stands for the King" with Iron Throne Photo Opp and Cast Visit New York City Stands for the King. The Empire State Building (ESB) – in partnership with Max – today unveiled a "House of the Dragon" takeover for fans at its world-famous Observatory Experience that includes a photo opportunity with the iconic Iron Throne, a visit from the show's cast, and a one-of-a-kind "Game of Thrones" universe photo opportunity on the 80th Floor. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240610590542/en/The cast of "House of the Dragon" on ESB's 86th Floor Observatory; ESB lit in green; the Iron Throne on the G
Jared Leto Among Participants in the Big Rappel The Empire State Building (ESB) hosted 20 brave supporters of Outward Bound – along with participant Jared Leto – in a historic rappel down the building's south façade, in partnership with Outward Bound to raise transformational funds for the charity across the world. Participants total donations exceeded $3 million to Outward Bound, which will make a profound difference in the educational journeys of young people everywhere. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240506846659/en/The Empire State Building Partners with Outward Bound on First-Ever, Full Rappel Down the Bui
Chiu previously served as Executive Vice President, Chief Operating Officer & Chief Financial Officer; Horn previously served as Senior Vice President, Chief Accounting Officer Empire State Realty Trust, Inc. (NYSE:ESRT) announced today that Executive Vice President, Chief Operating Officer & Chief Financial Officer Christina Chiu has been promoted to President. Anthony E. Malkin will continue to serve as Chairman and Chief Executive Officer. Additionally, Senior Vice President, Chief Accounting Officer Stephen V. Horn has been promoted to Executive Vice President, Chief Financial Officer & Chief Accounting Officer. This press release features multimedia. View the full release here: http
Chiu Previously Served as Executive Vice President, Chief Financial Officer NEW YORK, Dec. 14, 2022 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE:ESRT) announced today that Executive Vice President, Chief Financial Officer Christina Chiu has also been named the company's Chief Operating Officer. Chiu's areas of oversight include capital markets, financial planning and analysis, financial reporting, tax, treasury, investor relations, information technology, legal and human resources. "Christina continues to add tremendous value for stakeholders, investors, and the ESRT
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. "We welcome Jordan to ESRT as we continue to rapidly grow our tenant roster," said Thomas Durels, executive vice president, real estate at ESRT. "He brings a wealth of experience leading large, s
NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the "Company"), a real estate investment trust with office and retail properties in Manhattan and the greater New York metropolitan area, today reported its operational and financial results for the fourth quarter of 2020. “We took actions during the year to allow employee and tenant reentry with confidence to our buildings, collected rents, managed operating and capital expenses, promoted Empire State Building Observatory visits, supported our smaller retail tenants, and protected and fortified our balance sheet. Visits to the Observatory continue to grow gradually off a low base, despite interstate and inter
NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”) today announced that Grant H. Hill has joined its Board of Directors, effective November 30. Grant H. Hill’s appointment to the Company’s Board of Directors fills a newly created vacancy on the Board following the Board’s decision to increase its size from eight to nine directors. Mr. Hill is an owner and Vice Chairman of the Board of Directors of the Atlanta Hawks Basketball Club. Mr. Hill has invested in and developed more than $200 million of commercial real estate through Hill Ventures, Inc. He is the co-founder and a member of the investment committee of Penta Mezzanine Fund, a private inve