Empire State Realty Trust, Inc. | REIT Profile

Symbol: ESRT
CIK: 1541401
Exchange: NYSE
Founded: 2011 (11 years)
HQ: New York, NY, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Small-Cap
REIT Sector: Office

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See ESRT on SEC.gov

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About Empire State Realty Trust, Inc.

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 world'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 March 31, 2017, 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 708,000 rentable square feet in the retail portfolio.


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Stock Chart

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REITMovers


REITMovers tracks the stock price and other indicators for all US REITs tracked by REITNotes during normal trading hours. This data is updated every 3 minutes during normal trading hours. Note: All prices have a 15 minute delay.


Latest Price High Low Open Close Previous Close Volume Change $ Change % Market Cap PE Ratio 52W High 52W Low Ytd Change
$8.23 $8.27 $8.15 $8.15 $8.22 $8.22 104,454 $0.01 0.12% $1,370,870,425 -117.24 $12.93 $7.66 -7.17%

Last update: 2022-05-19 07:18:03 PST

REITRating™ Trend


REITRating™ is REITNotes' Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. See score breakdown. The graph below plots the overall REITRating™ score for the last trading days. See complete trend.

Overall REITRating Score: 5.5

Hightlights of Trading Day May 18, 2022


Open Price: $8.42
Closing Price: $8.22
Price Change: -0.26 (-3.066%)
Lowest Price: $8.16
Highest Price: $8.53
52-Week Low: $7.66
52-Week High: $12.93
52-Week Change: -25.80%
5 Day Price Change: 8.44%
1 Month Price Change: -4.72%
3 Month Price Change: -11.88%
6 Month Price Change: -14.88%
YTD Price Change: -4.36%
1 Year Price Change: -25.03%
2 Year Price Change: 29.32%
5 Year Price Change: -53.93%

Dividend of Trading Day May 18, 2022


Dividend Yield: 1.703%*
Annualized Dividend: $0.14*
Dividend Yield (TTM): 1.642%
Annualized Dividend (TTM): $0.1392
Ex-Dividend Date: 2022-03-14
Next Ex-Dividend: 2022-06-14
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes. This graph does not include extraordinary dividend.

Latest News Headlines


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Funds From Operations (FFO)



FFO Amount and Payout Ratio

Below are the FFO amounts, dividends, and payout ratios for the last two quarters for ESRT.

Year Quarter Type Amount Dividend Paid Payout Ratio
2021 Q4 FFO $--- $--- ---%
2021 Q4 FFO Core $--- $--- ---%
2021 Q3 FFO Core $--- $--- ---%
2021 Q3 FFO $--- $--- ---%

REITNotes uses the REIT's Funds From Operation (FFO) per diluted share informed in the REIT’s Quarterly Earning Reports and its announced dividend per diluted share. For some REITs, we also display the Adjusted Funds From Operations (AFFO), Core FFO, Normalized FFO (NFFO), Modified FFO (MFFO), Operating FFO as provided by the REIT. REITNotes™ calculates the payout ratio by dividing the dividend value paid during the current quarter by the FFO declared in the previous Quarter. E.g., we divide the dividend value paid in Q3 by the FFO reported in Q2. This is because although paid in Q3, the dividend value is usually declared during the previous quarter. FFO is a non-GAAP measure recognized by the SEC and provided by the REITs as a supplemental measure of their operating performance. FFO is not meant to be an indicator of the REIT’s capacity to pay current or future dividends nor to be a substitute to the REIT's cash flow from operations. It is recommended to check the REIT's website, Earning Reports and dividend announcements for the latest and updated information.

Funds From Operations (FFO)

Key Stats of Trading Day May 18, 2022


Total Cash: $429,716,000
Current Debt: $158,806,000
Revenue: $642,824,000
Gross Profit: $642,824,000
Total Revenue: $642,824,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $291,287,000
Revenue Per Share: $4
Revenue Per Employee: N/A
Employee: 755
Debt to Equity Ratio (D/E): 4.21
Profit Margin: -0.03%
Enterprise Value (EV): $3,215,444,742
Enterprise Value to Revenue (EV/R): 5.00
Price to Sales (P/S): 2.08
Price to Book (P/B): 1.37
Price/Earnings-to-Growth (PEG) Ratio: -3.90
P/E Ratio: -117.09
P/E High: 187.83
P/E Low: 146.08
Forward P/E Ratio: N/A
Market Capitalization: $1,369,204,726
Beta: 0.88
Latest Volume: 1,557,988
Avg. Total Volume: 1,731,187
Avg. 10-Day Volume: 1,853,073
Avg. 30-Day Volume: 1,731,187
TTM EPS: -0.07
Shares Outstanding: 166,569,918
Float: N/A
50-Day Moving Avg.: $8.79
200-Day Moving Avg.: $9.25

Latest REIT Community Comments on #ESRT


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Properties Owned by ESRT


ESRT Sample Property

Sample of REIT’s Properties. Image Source - REIT’s website

Occupancy Rate



Different REITs may report Occupancy levels in various forms/calculations. Some of the terms used to describe occupancy are Portfolio Occupancy, Weighted Average Occupancy, Ending Occupancy, Economic Occupancy, Leased Occupancy, Physical Occupancy, Pro Forma Occupancy, Same-Property Occupancy, Stabilized Portfolio Occupancy, Comparable Occupancy, Lease Rate, Percent Leased, among others. Some REITs interchange the words Occupancy and Leased while others use them to distinguish between data points. Some REITs also vary the use of the words over time through their earning reports. Therefore the information provided here is our best attempt at collecting data on occupancy/leased trends. However, it may not be accurate or comparable between different REITs.

REIT Simulation


Below is a simulation of how much money you would have made in dividends, and how much the shares would be worth had you purchased them 1 year ago for the amounts below.

With $1,000 USD With $500 USD With $250 USD With $100 USD With $50 USD
Initial investment @ $13.89 per share you would have been able to buy 71 shares of ESRT on 2021-05-19 costing $986.19 @ $13.89 per share you would have been able to buy 35 shares of ESRT on 2021-05-19 costing $486.15 @ $13.89 per share you would have been able to buy 17 shares of ESRT on 2021-05-19 costing $236.13 @ $13.89 per share you would have been able to buy 7 shares of ESRT on 2021-05-19 costing $97.23 @ $13.89 per share you would have been able to buy 3 shares of ESRT on 2021-05-19 costing $41.67
Current worth On 2022-05-18 these 71 shares would be worth $583.62 @ $8.22 On 2022-05-18 these 35 shares would be worth $287.70 @ $8.22 On 2022-05-18 these 17 shares would be worth $139.74 @ $8.22 On 2022-05-18 these 7 shares would be worth $57.54 @ $8.22 On 2022-05-18 these 3 shares would be worth $24.66 @ $8.22
Dividends earned $9.94 in dividends would have been earned since 2021-05-19 with 71 shares. $5 in dividends would have been earned since 2021-05-19 with 35 shares. $2.38 in dividends would have been earned since 2021-05-19 with 17 shares. $0.98 in dividends would have been earned since 2021-05-19 with 7 shares. $0.42 in dividends would have been earned since 2021-05-19 with 35 shares.
Net (gain / loss)* -392.63 USD -193.55 USD -94.01 USD -38.71 USD -16.59 USD
ROI** -39.81% -39.81% -39.81% -39.81% -39.81%

*Net (Gains/Loss): Includes the stock price (appreciate or depreciate ) + dividends earned during period held. Stock prices based on closing price for the date. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Note: Past performance is no guarantee of future results. This is a high-level simulation and does not account for many factors such as inflation and taxes so we cannot guarantee the accuracy of this simulation.

Dividend History


Below are the most recent cash dividends paid by ESRT. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date
ESRT 2022-03-14 0.035 --- 2022-03-04 2022-03-15 2022-03-31
ESRT 2021-12-17 0.035 --- 2021-12-10 2021-12-20 2021-12-31
ESRT 2021-09-14 0.035 --- 2021-08-09 2021-09-15 2021-09-30
ESRT 2021-06-14 0.035 -66.67% 2021-05-17 2021-06-15 2021-06-30
ESRT 2020-03-13 0.105 --- 2020-02-28 2020-03-16 2020-03-31
ESRT 2019-12-20 0.105 --- 2019-12-13 2019-12-23 2019-12-31
ESRT 2019-09-13 0.105 --- 2019-08-09 2019-09-16 2019-09-30
ESRT 2019-06-13 0.105 --- 2019-05-17 2019-06-14 2019-06-28
ESRT 2019-03-14 0.105 --- 2019-03-01 2019-03-15 2019-03-29
ESRT 2018-12-14 0.105 --- 2018-12-07 2018-12-17 2018-12-31
ESRT 2018-09-13 0.105 --- 2018-08-10 2018-09-14 2018-09-28
ESRT 2018-06-14 0.105 --- 2018-05-18 2018-06-15 2018-06-29
ESRT 2018-03-14 0.105 --- 2018-03-02 2018-03-15 2018-03-30
ESRT 2017-12-14 0.105 --- 2017-11-24 2017-12-15 2017-12-29
ESRT 2017-09-14 0.105 --- 2017-08-09 2017-09-15 2017-09-29
ESRT 2017-06-13 0.105 --- 2017-05-12 2017-06-15 2017-06-30
ESRT 2017-03-13 0.105 --- 2017-02-17 2017-03-15 2017-03-31
ESRT 2016-12-13 0.105 --- 2016-11-25 2016-12-15 2016-12-29
ESRT 2016-09-15 0.105 -30.00% 2016-09-08 2016-09-19 2016-09-30
ESRT 2016-06-13 0.150 76.47% 2016-06-01 2016-06-15 2016-06-30

Earnings Press Releases


Below are the Earnings Press Releases for ESRT. To see the complete Earnings Report please visit the sec.gov.

Year Quarter Title
2021 Q4 EMPIRE STATE REALTY TRUST ANNOUNCES FOURTH QUARTER 2021 RESULTS
2022 Q1 EMPIRE STATE REALTY TRUST ANNOUNCES FIRST QUARTER 2022 RESULTS AND PROVIDES 2022 GUIDANCE

Financial Statements Overview


The next Earnings Report for ESRT is 2022-07-27

Balance Sheet | Quarterly

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2021-12-31 2021-09-30 2021-06-30 2021-03-31
Current Cash 423,695,000 582,188,000 540,604,000 567,102,000
Receivables 243,569,000 250,058,000 250,381,000 244,866,000
Inventory 0 0 0 0
Current Assets 743,813,000 892,768,000 862,384,000 862,395,000
Current Assets (Other) 76,549,000 60,522,000 71,399,000 50,427,000
Short Term Investments 76,549,000 60,522,000 71,399,000 50,427,000
Long-term Investments 3,538,634,000 3,219,395,000 3,261,088,000 3,289,128,000
Property, Plant & Equipment Net 2,427,979,000 2,132,003,000 2,161,090,000 2,178,468,000
Goodwill 491,479,000 491,479,000 491,479,000 491,479,000
Intangible Assets 0 0 0 0
Other Assets 539,341,000 528,189,000 541,555,000 549,835,000
Net Tangible Assets 506,649,000 547,499,000 564,180,000 562,016,000
Total Assets 4,282,447,000 4,112,163,000 4,123,472,000 4,151,523,000
Accounts Payable 0 0 0 0
Liabilities (Other) 134,607,000 113,939,000 110,294,000 124,737,000
Current Liabilities (Other) 124,251,000 120,258,000 115,139,000 130,239,000
Total Current Liabilities 124,251,000 120,258,000 115,139,000 130,239,000
Current Long-term Debt 0 0 0 0
Long-term Debt 2,310,365,000 2,135,340,000 2,135,833,000 2,136,301,000
Total Liabilities 3,254,379,000 3,043,245,000 3,037,873,000 3,068,088,000
Minority Interest 656,264,000 644,763,000 647,609,000 647,760,000
Common Stock 173,936,000 172,494,000 171,615,000 171,735,000
Retained Earnings -133,610,000 -88,654,000 -73,260,000 -69,272,000
Treasury Stock 0 0 0 0
Capital Surplus 0 0 0 0
Shareholder Equity 1,028,068,000 1,068,918,000 1,085,599,000 1,083,435,000

Income Statement | Quarterly

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2021-12-31 2021-09-30 2021-06-30 2021-03-31
Total Revenue 160,334,000 165,048,000 153,408,000 145,304,000
Cost of Revenue 0 0 0 0
Gross Profit 160,334,000 165,048,000 153,408,000 145,304,000
Research and Development 0 0 0 0
Selling General and Admin 13,578,000 14,427,000 14,089,000 13,853,000
Operating Expense 139,237,000 151,845,000 126,924,000 126,955,000
Operating Income 21,097,000 13,203,000 26,484,000 18,349,000
Income Expense Net (Other) 0 0 0 0
EBIT 21,097,000 13,203,000 26,484,000 18,349,000
Interest Income 23,634,000 23,366,000 23,258,000 23,432,000
Pretax Income -2,537,000 -10,163,000 3,226,000 -5,297,000
Income Tax 1,537,000 20,000 -1,185,000 -2,106,000
Minority Interest -1,936,000 -4,256,000 1,285,000 -1,620,000
Net Income -3,214,000 -6,977,000 2,075,000 -2,621,000
Net Income Basic -3,214,000 -6,977,000 2,075,000 -2,621,000

Cash Flow | Quarterly

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2021-12-31 2021-09-30 2021-06-30 2021-03-31
Net Income -3,214,000 -6,977,000 2,075,000 -2,621,000
Depreciation 46,467,000 65,794,000 45,088,000 44,457,000
Changes in Receivables 243,569,000 250,058,000 250,381,000 244,866,000
Changes in Inventories 0 0 0 0
Cash Change 423,695,000 582,188,000 540,604,000 567,102,000
Cash Flow 45,459,000 83,298,000 10,329,000 73,400,000
Capital Expenditures -24,277,000 -22,315,000 -27,633,000 -20,812,000
Investments 0 0 0 0
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows -141,982,000 -22,315,000 -27,633,000 -20,812,000
Dividends Paid 0 0 0 0
Net Borrowings 1,810,121,000 1,492,630,000 1,523,830,000 1,518,772,000
Cash Flow Financing -49,806,000 -18,586,000 -11,523,000 -13,130,000
Financing Cash Flows (Other) 0 0 0 0
Exchange Rate Effect 0 0 0 0

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
0 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 3.7
8 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 6.7
Rating AFFO & Efficiency Section Avg. Rating
10 FFO Core Trend: Analysis of the REIT’s FFO Core trend during the last two years. 8.5
7 Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. 6.9
8 Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. 7.5
Rating Leverage Section Avg. Rating
4 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 6.3
3 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 6.5
9 Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 7.7
8 Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 8.4
3 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 5.0
3 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 7.1
Rating Asset & Revenue Section Avg. Rating
6 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 7.4
5 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 6.6
Rating Properties Section Avg. Rating
6 Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. 7.3
4 Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. 7.8
9 Tenants: Analysis of the REIT's tenant diversification, operation type, and exposure to risk. 8.0
Rating Market Cap Section Avg. Rating
5.5 Overall REITRating™ Score (See trend) 6.1

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

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Last updated: 2022-05-19 - v3.3