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Empire State Realty Trust Inc (ESRT)
:ESRT
Earnings Data
Report Date
Jul 23, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
―Last Year’s EPS
0.1Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Apr 29, 2025
|% Change Since: 5.46%
|Next Earnings Date:Jul 23, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong leasing activity and positive rent spreads, along with a resilient Observatory performance despite weather challenges. The company maintains a robust balance sheet and continues to achieve success in its multifamily portfolio. However, there are concerns over a slight decline in office occupancy and potential macroeconomic headwinds affecting tourism.Company Guidance
During the Empire State Realty Trust first quarter 2025 earnings call, management reaffirmed their outlook for the year, citing strong leasing momentum and resilient performance of the Observatory. Key metrics highlighted included the Manhattan office portfolio being 93% leased, with expectations for leasing and occupancy gains by year-end. The company achieved positive mark-to-market rent spreads for the 15th consecutive year. The Observatory generated net operating income (NOI) of $15 million in the first quarter, despite a 4.6% year-over-year decrease in visitation due to seasonal factors. The multifamily portfolio boasted a 99% occupancy rate with 8% year-over-year rent growth, while the retail portfolio was over 94% leased. Empire State Realty Trust maintained core FFO guidance of $0.86 to $0.89 per diluted share for 2025 and kept the Observatory NOI guidance between $97 million and $102 million. The company also emphasized a strong balance sheet with no unaddressed debt maturities until December 2026 and net debt-to-EBITDA at 5.2 times as of quarter-end.Strong Leasing Activity
Leased approximately 230,000 square feet in the first quarter, including significant renewals and expansions with major tenants like Workday and Carolina Herrera. The Manhattan office portfolio is 93% leased.
Positive Rent Spreads
Achieved 15th consecutive quarter of positive New York City office mark-to-market rent spreads, with blended spreads increasing by over 10% in Q1.
Resilient Observatory Performance
Despite challenges, the Observatory produced NOI of $15 million, with revenue per cap increasing by 5.9% in the first quarter.
Multifamily Portfolio Success
The multifamily portfolio was 99% occupied with 8% year-over-year rent growth.
Strong Balance Sheet
Lowest leverage among all New York City focused REITs at 5.2 times net debt-to-EBITDA with no unaddressed debt maturities until December 2026.
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ESRT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ESRT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Apr 29, 2025 | $6.96 | $7.12 | +2.30% |
| Feb 19, 2025 | $8.97 | $8.71 | -2.90% |
| Oct 21, 2024 | $11.13 | $11.10 | -0.27% |
| Jul 24, 2024 | $10.56 | $10.43 | -1.23% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Empire State Realty Trust Inc (ESRT) report earnings?
Empire State Realty Trust Inc (ESRT) is schdueled to report earning on Jul 23, 2025, TBA Not Confirmed.
What is Empire State Realty Trust Inc (ESRT) earnings time?
Empire State Realty Trust Inc (ESRT) earnings time is at Jul 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ESRT EPS forecast?
Currently, no data Available
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