Economic UncertaintyA lower multiple is being ascribed to the stock due to the office sector's sensitivity to economic uncertainty.
Guidance RevisionESRT reported an in-line 2Q25 Core FFOps, but lowered 2025 Core FFOps guidance by 3.4%, below the Street, driven by a reduced outlook on the Empire State Observatory.
ValuationThe target price for Empire State Realty Trust has been lowered from $10.00 to $7.50 due to a revised valuation approach.