Empire State Realty TrustESRT
ESRT
About: Empire State Realty Trust operates as a pure-play greater New York and Manhattan-focused REIT, featuring its landmark Empire State Building office and observation deck. The company owns and operates around 8.5 million square feet of office space, about 80% of which is located in Manhattan.
Employees: 666
0
Funds holding %
of 6,809 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
14,217% more call options, than puts
Call options by funds: $4.3M | Put options by funds: $30K
35% more first-time investments, than exits
New positions opened: 31 | Existing positions closed: 23
29% more repeat investments, than reductions
Existing positions increased: 80 | Existing positions reduced: 62
22% more capital invested
Capital invested by funds: $1.06B [Q2] → $1.3B (+$233M) [Q3]
4% more funds holding
Funds holding: 210 [Q2] → 218 (+8) [Q3]
2.22% more ownership
Funds ownership: 69.22% [Q2] → 71.44% (+2.22%) [Q3]
0% more funds holding in top 10
Funds holding in top 10: 1 [Q2] → 1 (+0) [Q3]
Research analyst outlook
1 Wall Street Analyst provided 1 year price targets over the past 3 months
Low target
$13
28%
upside
Avg. target
$13
28%
upside
High target
$13
28%
upside
1 analyst rating
1 positive
100%
0 neutral
0%
0 negative
0%
BMO Capital John Kim 71% 1-year accuracy 12 / 17 met price target | 28%upside $13 | Outperform Maintained | 15 Nov 2024 |
Financial journalist opinion
Based on 4 articles about ESRT published over the past 30 days
Positive
Seeking Alpha
6 days ago
Empire State Realty Trust Is A Way To Go Long New York City
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.
Negative
Seeking Alpha
1 week ago
Earnings Metrics Of Several U.S. Office REITs Drop In Q3
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.
Neutral
Business Wire
2 weeks ago
Empire State Realty Trust Announces Dividend for Fourth Quarter 2024
NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust Announces Dividend for Fourth Quarter 2024.
Negative
Seeking Alpha
3 weeks ago
The State Of REITs: November 2024 Edition
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.
Neutral
Business Wire
1 month ago
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
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.
Neutral
Seeking Alpha
1 month ago
Empire State Realty Trust, Inc. (ESRT) Q3 2024 Earnings Call Transcript
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.
Neutral
Business Wire
2 months ago
Empire State Realty Trust Announces Third Quarter 2024 Results
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.
Neutral
Business Wire
2 months ago
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 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.
Neutral
Business Wire
2 months ago
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) 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.
Neutral
Business Wire
2 months ago
Empire State Realty Trust Announces Dates for Third Quarter 2024 Earnings Release and Conference Call
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.
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