ESRT · Empire State Realty Trust, Inc.
$4.19
+0.02 (+0.48%)
At close · Oct 5
Return incl. dividend (before tax)
Market Cap
$711.58M
Shares
173.13M
Volume · Oct 5
7.44M
Avg daily vol (3M)
2.87M
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$4.17
Open$4.18
Day$4.11–4.21
52W close$3.93–7.97
Avg vol 30d4.2M
Short int11.6M · 6.7% float · 2.9d
Short vol37%
Last earningsNov 3, 2026
DataJan 2020–Oct 2026
Filing10-Q · Aug 6
Up next
Next earnings call
Nov 3, 2026
Scheduled
· in 4 wks
filed Aug 6, 2026
call held Jul 30, 2026
Metrics snapshot
Useful current figures from the complete screener profile.
Revenue (TTM)
—
Trailing 12 months
Net income (TTM)
—
Trailing 12 months
Revenue growth YoY
—
Year over year
Operating margin
—
Trailing 12 months
P / E (TTM)
—
Trailing earnings
FCF yield
—
TTM · current market cap
Return on invested capital
—
Trailing 12 months
Net cash
—
Latest balance sheet
Dividend yield
3.4%
Trailing 12 months
Shares change YoY
—
Year over year · more shares
Price change (1Y)
-46.2%
Trailing year
Short interest
6.7%
Latest settlement · 2.9 days to cover
AI Brief
Q2 FY26 earnings call · Jul 30, 2026
Q2 FY26
TL;DR. ESRT reported Q2 results with strong leasing execution of 381,799 sf (including 363,968 sf of office) at +17.8% mark-to-market, lifting commercial leased to 94.9%, but cut 2026 Core FFO guidance to $0.75–$0.79 (from $0.85–$0.89) as Observation Deck visitation fell 28.5% YoY and the company now assumes only $55M of Observation Deck NOI for the year.
Bullish
- + Commercial portfolio leased rose to 94.9% (up from 93.8%/93.2%), supporting year-end occupancy guidance of 90–92%
- + Completed $275M disposition of 250 West 57th Street (including $180M mortgage assumption), recycling capital into the prior 130 Mercer acquisition without a taxable gain
- + Executed strategic 16-year 100,948 sf United Talent Agency lease at Empire State Building and other long-term commitments
- + Closed $245M unsecured delayed-draw term loan maturing in 2032 with no unaddressed debt maturity until January 2028
Bearish
- − Empire State Building Observation Deck NOI fell to $12.4M from $24.1M and visitation dropped 28.5% YoY amid a 45% decline in pass-program visitors
- − Recorded $166.1M non-cash goodwill impairment charge related to the Observatory reporting unit, driving a Q2 net loss of $(0.15) per share
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Sell
SellHoldBuy
Technical
Sell
Momentum
Very Weak
Sentiment
Neutral
Fundamentals
Weak
Quant / Vol
High
Market backdrop
VIX 15.3 · calm
Equity put/call 0.58
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
−24%
below
Price vs 50-day avg
−9%
below
RSI (14)
44
neutral
MACD trend
Positive
52-week position
6%
near low
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
−6%
trailing
6-month return
−21%
trailing
YTD return
−36%
this year
Relative strength
−33%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $5 › 200d $5 — 200d above 50d
Institutional flow
Accumulating
1 of 228 funds reported for Sep 30 · net +7.3K sh shares
Insider flow
Flat
No net insider activity over 90 days
Short interest
Rising
6.72% of float · ▲ +22.3% MoM · 2.9 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Steady
228 holders — mid 3-yr range
Squeeze score
59
elevated · 0–100
Fundamentals
Revenue growth
+0%
Y/Y
EPS growth
−11%
Y/Y
Valuation
P/E 205.5
rich
Buyback
$500.0M
remaining
Balance sheet
$403.6M
net debt
Quant / Vol
risk profile
Volatility
36%
annualized · 1-yr
Max drawdown
−51%
past year
ATR
3.4%
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%
SS Property Cash NOI (excluding lease termination fees)
· 2026
-1.5% – 2%
Observation Deck NOI Utilized
· 2026
Non-GAAP
$55M
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
−24%
Bearish
Price vs 50-day avg
−9%
Bearish
RSI (14)
44
Neutral
MACD trend
Positive
Bullish
52-week position
6%
Bearish
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Mixed
Trend (MA cross)
No cross
50d $5 › 200d $5 — 200d above 50d
Institutional flow
Accumulating
1 of 228 funds reported for Sep 30 · net +7.3K sh shares
Insider flow
Flat
No net insider activity over 90 days
Short interest
Rising
6.72% of float · ▲ +22.3% MoM · 2.9 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Steady
228 holders — mid 3-yr range
Price context
position in its 52-week range
Range low $4
Now $4 · 6%
Range high $8
vs 200-day avg -24%
vs 50-day avg -9%
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 |
|---|---|---|---|
| Core Funds From Operations attributable to common stockholders and the operating partnership non-GAAP | $57.1M | three months ended June 30, 2026 filing | — |
GAAP → non-GAAP reconciliationGAAP Modified funds from operations attributable to common stockholders and the Operating Partnership -$114.52M
+$0K Interest expense associated with property in receivership
+$5.54M Severance expenses
+$166.11M Goodwill impairment charge
= Core funds from operations attributable to common stockholders and the Operating Partnership $57.13M
|
|||
| Funds from operations attributable to common stockholders and the Operating Partnership non-GAAP | -$115.76M | Three Months Ended June 30, 2026 filing | — |
GAAP → non-GAAP reconciliationGAAP Net income (loss) -$39.55M
-$1.05M Private perpetual preferred unit distributions
+$49.46M Real estate depreciation and amortization
-$124.62M Gain on disposition of properties
= Funds from operations attributable to common stockholders and the Operating Partnership -$115.76M
|
|||
| Goodwill impairment charge (Observatory reporting unit) | $166.1M | three months ended June 30, 2026 filing | — |
| Modified funds from operations attributable to common stockholders and the Operating Partnership non-GAAP | -$114.52M | Three Months Ended June 30, 2026 filing | — |
GAAP → non-GAAP reconciliationGAAP Funds from operations attributable to common stockholders and the Operating Partnership -$115.76M
+$1.25M Amortization of below-market ground leases
= Modified funds from operations attributable to common stockholders and the Operating Partnership -$114.52M
|
|||
| Net operating income non-GAAP | $102.64M | Three Months Ended June 30, 2026 filing | — |
GAAP → non-GAAP reconciliationGAAP Net income (loss) -$39.55M
+$25.12M General and administrative expenses
+$50.39M Depreciation and amortization
+$27.81M Interest expense
+$0K Interest expense associated with property in receivership
+$166.11M Goodwill impairment charge
-$767K Income tax expense (benefit)
-$124.62M Gain on disposition of properties
-$268K Third-party management and other fees
-$1.58M Interest income
= Net operating income $102.64M
|
|||
| Severance costs included in general and administrative expenses | $5.5M | three months ended June 30, 2026 filing | — |
| Signed new, renewal, and expansion leases (rentable square feet) | 381,799 | three months ended June 30, 2026 filing | — |
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.
|
$711.58M | -36.0% | +0.0% | 205.5 | 6.7% |
|
VICI
Vici Properties Inc.
|
$25.89B | -19.5% | +4.1% | 9.1 | 2.4% |
|
WPC
W. P. Carey Inc.
|
$15.06B | +0.2% | +8.4% | 23.1 | 3.6% |
|
BNL
Broadstone Net Lease, Inc.
|
$3.62B | +6.9% | +5.2% | 24.8 | 10.5% |
|
GNL
Global Net Lease, Inc.
|
$1.80B | -4.1% | -13.1% | — | 6.1% |
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% | -5.7% | -21.0% | +3.5% | -36.0% |
| SPY | -0.2% | -0.5% | +12.2% | +0.9% | +12.9% |
| vs SPY | +1.7% | -5.2% | -33.2% | +2.6% | -48.9% |
Capital returns
Latest dividend
$0.035
/ share · ex Sep 15, 2026
Paid (TTM)
$0.14
/ share · 4 payouts
Dividend yield (TTM, derived)
3.36%
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.