ESRT · Empire State Realty Trust, Inc.
$4.82
+0.03 (+0.63%)
At close · Aug 21
Market Cap
$829.31M
Shares
173.13M
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$4.82
Open$4.80
Day$4.76–4.87
52W close$4.63–7.97
Avg vol 30d1.8M
Short int7.7M · 4.5% float · 3.9d
Short vol52%
Last earningsJul 30, 2026
DataJan 2020–Aug 2026
Filing10-Q · Aug 6
Up next
Next earnings call
Nov 2, 2026
Est · unconfirmed
· in 10 wks
FQ3-26 quarter ends
~Sep 30, 2026
Est
filed Aug 6, 2026
AI Brief
TL;DR.
Bullish
Bearish
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Ask ALVIS about this →Equibles Rating
blended score · not investment adviceOverall
Sell
SellHoldBuy
Technical
Sell
Momentum
Very Weak
Sentiment
Bullish
Fundamentals
Weak
Quant / Vol
High
Market backdrop
VIX 15.1 · calm
Equity put/call 0.51
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
−18%
below
Price vs 50-day avg
−8%
below
RSI (14)
42
neutral
MACD trend
Positive
52-week position
6%
near low
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
−15%
trailing
6-month return
−16%
trailing
YTD return
−26%
this year
Relative strength
−28%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $5 › 200d $6 — 200d above 50d
Institutional flow
Accumulating
+1% holders QoQ · +37 funds added
Insider flow
Flat
No net insider activity over 90 days
Short interest
Falling
4.47% of float · ▼ -11.3% MoM · 3.9 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Steady
226 holders — mid 3-yr range
Squeeze score
52
elevated · 0–100
Fundamentals
Revenue growth
+0%
Y/Y
EPS growth
−11%
Y/Y
Valuation
P/E 239.5
rich
Buyback
$500.0M
remaining
Balance sheet
$475.9M
net debt
Quant / Vol
risk profile
Volatility
35%
annualized · 1-yr
Max drawdown
−42%
past year
ATR
3.6%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the 8-K filed Jul 29, 2026
Commercial Occupancy at year-end
· 2026
90% – 92%
Observation Deck NOI Utilized
· 2026
$55M
SS Property Cash NOI (excluding lease termination fees)
· 2026
-1.5% – 2%
Prior guidance
period ended
· from the Earnings Call filed Jun 30, 2025
Observatory NOI
· 2025
$90M – $94M
Core FFO
· 2025
$0.83 – $0.86
Manhattan office occupancy rate
· by year-end 2025
89% – 91%
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Sell
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
−18%
Bearish
Price vs 50-day avg
−8%
Bearish
RSI (14)
42
Neutral
MACD trend
Positive
Bullish
52-week position
6%
Bearish
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Bullish · 2 of 6
Trend (MA cross)
No cross
50d $5 › 200d $6 — 200d above 50d
Institutional flow
Accumulating
+1% holders QoQ · +37 funds added
Insider flow
Flat
No net insider activity over 90 days
Short interest
Falling
4.47% of float · ▼ -11.3% MoM · 3.9 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Steady
226 holders — mid 3-yr range
Price context
position in its 52-week range
Range low $5
Now $5 · 6%
Range high $8
vs 200-day avg -18%
vs 50-day avg -8%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA non-GAAP | $79.36M | Q2 FY2026 | — |
GAAP → non-GAAP reconciliationGAAP EBITDA $37.87M
-$124.62M Gain on disposition of property
+$166.11M Goodwill impairment charge
= Adjusted EBITDA $79.36M
|
|||
| Change in visitors year-over-year | -28.5% | Twelve Months to Date June 30, 2026 | — |
| Core FAD | $16.15M | Q2 FY2026 | — |
GAAP → non-GAAP reconciliationGAAP Core FFO $57.13M
+$1.11M Amortization of deferred financing costs
+$926K Non-real estate depreciation and amortization
+$7.76M Amortization of non-cash compensation expense
+$1.31M Amortization of loss on interest rate derivative
-$13.04M Straight-line rental revenues, above/below market rent, and other non-cash adjustments
-$210K Corporate capital expenditures
-$24.72M Tenant improvements - second generation
-$2.68M Building improvements - second generation
-$11.44M Leasing commissions - second generation
= Core FAD $16.15M
|
|||
| Core FAD Payout Ratio (8) | 60% | Q2 FY2026 | — |
| Core FFO attributable to common stockholders and Operating Partnership units non-GAAP | $110.33M | Six Months Ended June 30, 2026 | — |
| Core FFO Payout Ratio (7) | 17% | Q2 FY2026 | — |
| Core FFO per share - Diluted non-GAAP | $0.41 | Six Months Ended June 30, 2026 | — |
|
|
|||
| Debt and Perpetual Preferred Units to Total Market Capitalization (5) | 60.3% | Q2 FY2026 | — |
| Debt to Total Market Capitalization (5) | 58% | Q2 FY2026 | — |
| Diluted weighted average shares | 268.95M | Q2 FY2026 | — |
| EBITDA | $37.87M | Q2 FY2026 | — |
GAAP → non-GAAP reconciliationGAAP Net income (loss) -$39.55M
+$27.81M Interest expense
-$767K Income tax expense (benefit)
+$50.39M Depreciation and amortization
= EBITDA $37.87M
|
|||
| Empire State Building Observation Deck generated NOI | $12.4M | second quarter 2026 | — |
| FFO attributable to common stockholders and the Operating Partnership | -$115.76M | Q2 FY2026 | — |
GAAP → non-GAAP reconciliationGAAP Net Income (loss) -$39.55M
-$1.05M Preferred unit distributions
+$49.46M Real estate depreciation and amortization
-$124.62M Gain on disposition of property
= FFO attributable to common stockholders and the Operating Partnership -$115.76M
|
|||
| Modified FFO attributable to common stockholders and the Operating Partnership | -$114.52M | Q2 FY2026 | — |
GAAP → non-GAAP reconciliationGAAP FFO attributable to common stockholders and the Operating Partnership -$115.76M
+$1.25M Amortization of below-market ground lease
= Modified FFO attributable to common stockholders and the Operating Partnership -$114.52M
|
|||
| Multifamily portfolio | $5.22M | Q2 FY2026 | — |
| Net Debt and Perpetual Preferred Units to Total Market Capitalization (5) | 59.4% | Q2 FY2026 | — |
| Number of visitors | 350,000 | Three Months Ended June 30, 2026 | — |
| Number of visitors (4) | 450,000 | Q2 FY2026 | — |
| Occupancy | 89.4% | June 30, 2026 | — |
| Office | 363,968 | second quarter 2026 | — |
| Office portfolio | $59.62M | Q2 FY2026 | — |
| Percent leased (1)(3) | 94.9% | Q2 FY2026 | — |
| Percent occupied | 97.7% | June 30, 2026 | — |
| Percent occupied (1)(2) | 89.4% | Q2 FY2026 | — |
| Percentage of new cash rent over previously escalated rents | 1.4% | Three Months Ended June 30, 2026 | — |
| residential units | 743 | June 30, 2026 | — |
| Retail | 17,831 | second quarter 2026 | — |
| Retail portfolio | $4.59M | Q2 FY2026 | — |
| Same-Store Property Cash Net Operating Income (“NOI”), excluding lease termination fees | 3.3% | second quarter 2026 | — |
| Same-Store Property Cash NOI, adjusted for non-recurring items | 3.2% | second quarter 2026 | — |
| Series 2014 Private Perpetual Preferred Units outstanding ($16.62 liquidation value) | 1.56M | Q2 FY2026 | — |
| Series 2019 Private Perpetual Preferred Units outstanding ($13.52 liquidation value) | 4.66M | Q2 FY2026 | — |
| Total common stock and operating partnership units outstanding (11) | 283.23M | Q2 FY2026 | — |
| Total leases executed | 21 | Three Months Ended June 30, 2026 | — |
| Total multifamily portfolio | 97.7% | June 30, 2026 | — |
| Total number of units | 743 | Q2 FY2026 | — |
| Total Office | 363,968 | second quarter 2026 | — |
| Total Overall | 381,799 | second quarter 2026 | — |
| Total rentable square footage(1) | 7,801,494 | Q2 FY2026 | — |
| Total retail rentable square feet | 756,367 | June 30, 2026 | — |
| Total Same Store property cash NOI - excluding Observatory and lease termination fees non-GAAP | $137.76M | Six Months Ended June 30, 2026 | — |
| Total Same Store Property Cash NOI, excluding lease termination fees | $69.43M | Q2 FY2026 | — |
| Weighted average lease term | 9.7 | Three Months Ended June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
REIT - Diversified — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
ESRT
this stock
Empire State Realty Trust, Inc.
|
$829.31M | -26.1% | +0.0% | 239.5 | 4.5% |
|
VICI
Vici Properties Inc.
|
$29.19B | -5.7% | +4.1% | 10.3 | 2.3% |
|
WPC
W. P. Carey Inc.
|
$16.22B | +10.6% | +8.4% | — | 3.6% |
|
BNL
Broadstone Net Lease, Inc.
|
$4.05B | +21.6% | +5.2% | 27.8 | 6.0% |
|
GNL
Global Net Lease, Inc.
|
$1.92B | +5.1% | -13.1% | — | 5.3% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| ESRT | +1.5% | -14.8% | -16.0% | -4.7% | -26.1% |
| SPY | -1.4% | +3.6% | +11.6% | +2.5% | +12.3% |
| vs SPY | +2.8% | -18.5% | -27.6% | -7.2% | -38.4% |
Capital returns
Latest dividend
$0.035
/ share · ex Jun 15, 2026
Declared · upcoming
$0.035
/ share · ex Sep 15, 2026
Paid (TTM)
$0.14
/ share · 4 payouts
Dividend yield (TTM, derived)
2.90%
Buyback program
· as of Jun 30, 2026
Authorized
$500.00M
Spent (derived)
$0
Remaining
$500.00M
Spent
Remaining
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
Key facts
CIK
1541401
CUSIP
292104106
13F (30d)
226 filings
201 filers
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