Symbols / ESRT Stock $5.38 -1.28% Empire State Realty Trust, Inc.

Real Estate • REIT - Diversified • United States • NYQ
ESRT (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Real Estate
Industry REIT - Diversified
CEO Mr. Anthony E. Malkin
Exch · Country NYQ · United States
Market Cap 1.65B
Enterprise Value 3.96B
Income 35.41M
Sales 776.71M
FCF (ttm) 234.21M
Book/sh 6.22
Cash/sh 0.44
Employees 642
Insider 10d —
IPO Oct 02, 2013
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 66.67%
P/E 25.62
Forward P/E 89.67
PEG 37.36
P/S 2.12
P/B 0.87
P/C —
EV/EBITDA 12.39
EV/Sales 5.10
Quick Ratio 1.51
Current Ratio 1.67
Debt/Eq 128.67
LT Debt/Eq —
EPS (ttm) 0.21
EPS next Y 0.06
EPS Growth -86.80%
Revenue Growth 4.90%
EPS Gr Q/Q -77.80%
Rev Gr Q/Q —
Earnings (next) 2026-07-22
Earnings (prior) 2024-07-24
ROA 2.04%
ROE 3.34%
ROIC —
Gross Margin 52.49%
Oper. Margin 15.59%
Profit Margin 5.10%
Shs Outstand 171.46M
Shs Float 141.43M
Insider Own 0.08%
Instit Own 103.15%
Short Float 8.52%
Short Ratio 8.14
Short Interest 12.02M
52W High 8.76
vs 52W High -38.58%
52W Low 4.87
vs 52W Low 10.47%
Beta 1.36
Impl. Vol. 81.64%
Rel Volume 0.52
Avg Volume 1.67M
Volume 876.20K
Target (mean) $6.61
Tgt Median $7.00
Tgt Low $5.75
Tgt High $7.00
# Analysts 5
Recom Hold
Prev Close $5.45
Price $5.38
Change -1.28%
About

Empire State Realty Trust, Inc. is a NYC-focused REIT that owns and operates a portfolio of well-leased, modernized well-located offices and multifamily assets. ESRT's flagship Empire State Building, the (World's Most Famous Building) features its iconic Observatory. The Company is a recognized leader in energy efficiency and indoor environmental quality. As of December 31, 2025, ESRT's portfolio is comprised of approximately 7.9 million rentable square feet of office space, 0.8 million rentable square feet of retail space and 743 residential units. Empire State Realty Trust, Inc. was established on July 29, 2011, and was incorporated in 2011 and is based in New York, United States.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$6.61
Mean price target
2. Current target
$5.38
Latest analyst target
3. DCF / Fair value
$24.59
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$5.38
Low
$5.75
High
$7.00
Mean
$6.61

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-04-15 main Citigroup Neutral → Neutral $6
2026-03-02 main Wells Fargo Underweight → Underweight $6
2026-02-19 main Citigroup Neutral → Neutral $7
2026-02-18 main Evercore ISI Group In-Line → In-Line $7
2025-11-25 main Wells Fargo Underweight → Underweight $7
2025-05-19 main Wells Fargo Underweight → Underweight $8
2024-11-15 main BMO Capital Outperform → Outperform $13
2024-09-11 main Wells Fargo Underweight → Underweight $10
2024-07-19 main BMO Capital Outperform → Outperform $12
2023-11-27 down Evercore ISI Group Outperform → In-Line $9
2023-08-30 main Wells Fargo Underweight → Underweight $7
2023-08-17 main Evercore ISI Group Outperform → Outperform $10
2023-08-08 main Citigroup Neutral → Neutral $9
2023-06-15 main Citigroup Neutral → Neutral $7
2023-05-23 up Evercore ISI Group In-Line → Outperform $8
2023-04-12 down Evercore ISI Group Outperform → In-Line $7
2023-03-27 main Evercore ISI Group — → Outperform $8
2023-03-16 main Wells Fargo — → Underweight $6
2023-03-03 up BMO Capital Market Perform → Outperform $9
2023-03-01 main Citigroup — → Neutral $8
News
RSS: Latest ESRT news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-03-13 SUTHERLAND DONNA JEAN Officer — 11,584 $0.00 $0
2025-03-24 DURELS THOMAS P Officer — 17,622 $8.02 $141,386
2025-03-20 DURELS THOMAS P Officer — 25,000 $8.11 $203,250
2024-12-24 DURELS THOMAS P Officer — 10,000 $10.10 $101,000
2024-12-18 DURELS THOMAS P Officer — 3,193 $10.90 $34,804
2024-12-17 DURELS THOMAS P Officer — 100,000 — —
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
767.81
+0.61%
763.15
+3.19%
739.57
+4.61%
707.01
Operating Revenue
756.02
+0.52%
752.14
+3.31%
728.04
+4.25%
698.39
Cost Of Revenue
365.02
+3.07%
354.16
+4.47%
339.02
+5.50%
321.35
Reconciled Cost Of Revenue
365.02
+3.07%
354.16
+4.47%
339.02
+5.50%
321.35
Gross Profit
402.79
-1.52%
408.99
+2.11%
400.56
+3.86%
385.65
Operating Expense
267.60
+4.92%
255.05
+0.47%
253.85
-8.90%
278.66
Selling General And Administration
72.84
+3.71%
70.23
+9.85%
63.94
+3.52%
61.77
General And Administrative Expense
72.84
+3.71%
70.23
+9.85%
63.94
+3.52%
61.77
Other Gand A
72.84
+3.71%
70.23
+9.85%
63.94
+3.52%
61.77
Total Expenses
632.62
+3.84%
609.21
+2.76%
592.87
-1.19%
600.01
Operating Income
135.19
-12.18%
153.94
+4.93%
146.71
+37.11%
107.00
Total Operating Income As Reported
135.65
-14.53%
158.71
+8.18%
146.71
+15.49%
127.03
EBITDA
374.08
-0.93%
377.57
-0.25%
378.52
-1.13%
382.86
Normalized EBITDA
338.69
-5.93%
360.06
+2.36%
351.75
+6.97%
328.84
Reconciled Depreciation
194.76
+5.38%
184.82
-2.68%
189.91
-12.44%
216.89
EBIT
179.32
-6.97%
192.76
+2.20%
188.61
+13.64%
165.96
Total Unusual Items
35.38
+101.97%
17.52
-34.54%
26.76
-50.46%
54.02
Total Unusual Items Excluding Goodwill
35.38
+101.97%
17.52
-34.54%
26.76
-50.46%
54.02
Special Income Charges
0.37
-91.30%
4.22
0.00
-100.00%
20.03
Other Special Charges
-0.37
+91.30%
-4.22
—
-20.03
Write Off
—
—
0.00
0.00
Net Income
47.60
-7.83%
51.64
-3.01%
53.24
+31.01%
40.64
Pretax Income
75.54
-9.04%
83.05
-4.68%
87.12
+34.53%
64.76
Net Non Operating Interest Income Expense
-95.03
-7.49%
-88.41
-2.39%
-86.35
+10.30%
-96.26
Interest Expense Non Operating
103.78
-5.41%
109.71
+8.11%
101.48
+0.27%
101.21
Net Interest Income
-95.03
-7.49%
-88.41
-2.39%
-86.35
+10.30%
-96.26
Interest Expense
103.78
-5.41%
109.71
+8.11%
101.48
+0.27%
101.21
Interest Income Non Operating
8.75
-58.93%
21.30
+40.71%
15.14
+205.90%
4.95
Interest Income
8.75
-58.93%
21.30
+40.71%
15.14
+205.90%
4.95
Other Income Expense
35.38
+101.97%
17.52
-34.54%
26.76
-50.46%
54.02
Gain On Sale Of Security
35.02
+163.25%
13.30
-50.30%
26.76
-21.25%
33.99
Tax Provision
2.56
-4.84%
2.69
-0.99%
2.71
+75.61%
1.55
Tax Rate For Calcs
0.00
+4.66%
0.00
+1000.66%
0.00
-90.73%
0.00
Tax Effect Of Unusual Items
12.70
+111.39%
6.01
+620.50%
0.83
-95.40%
18.15
Net Income Including Noncontrolling Interests
72.98
-9.18%
80.36
-4.80%
84.41
+33.53%
63.21
Net Income From Continuing Operation Net Minority Interest
47.60
-7.83%
51.64
-3.01%
53.24
+31.01%
40.64
Net Income From Continuing And Discontinued Operation
47.60
-7.83%
51.64
-3.01%
53.24
+31.01%
40.64
Net Income Continuous Operations
72.98
-9.18%
80.36
-4.80%
84.41
+33.53%
63.21
Minority Interests
-25.38
+11.62%
-28.72
+7.85%
-31.16
-38.07%
-22.57
Normalized Income
24.92
-37.91%
40.13
+46.92%
27.32
+472.20%
4.77
Net Income Common Stockholders
43.40
-8.52%
47.44
-3.27%
49.04
+34.58%
36.44
Otherunder Preferred Stock Dividend
—
—
0.00
0.00
Diluted EPS
0.25
-10.71%
0.28
-6.67%
0.30
+36.36%
0.22
Basic EPS
0.26
-10.34%
0.29
-3.33%
0.30
+36.36%
0.22
Basic Average Shares
168.54
+2.21%
164.90
+2.35%
161.12
-2.37%
165.04
Diluted Average Shares
270.04
+0.38%
269.02
+1.27%
265.63
-1.60%
269.95
Diluted NI Availto Com Stockholders
68.78
-9.68%
76.15
-4.97%
80.14
+35.24%
59.25
Average Dilution Earnings
25.38
-11.61%
28.71
-7.66%
31.09
+36.31%
22.81
Depreciation Amortization Depletion Income Statement
194.76
+5.38%
184.82
-2.68%
189.91
-12.44%
216.89
Depreciation And Amortization In Income Statement
194.76
+5.38%
184.82
-2.68%
189.91
-12.44%
216.89
Preferred Stock Dividends
4.20
+0.00%
4.20
+0.00%
4.20
+0.00%
4.20
Rent And Landing Fees
—
—
—
—
Rent Expense Supplemental
9.33
+0.00%
9.33
+0.00%
9.33
+0.00%
9.33
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
4,468.96
-0.92%
4,510.29
+6.90%
4,219.33
+1.34%
4,163.59
Current Assets
443.84
-49.50%
878.90
+25.12%
702.42
+14.31%
614.51
Cash Cash Equivalents And Short Term Investments
132.66
-65.59%
385.46
+11.21%
346.62
+31.08%
264.43
Cash And Cash Equivalents
132.66
-65.59%
385.46
+11.21%
346.62
+31.08%
264.43
Receivables
277.33
-38.32%
449.60
+52.17%
295.46
+11.80%
264.29
Accounts Receivable
22.06
-29.80%
31.43
-21.11%
39.84
+65.28%
24.10
Gross Accounts Receivable
22.06
-29.80%
31.43
-21.11%
39.84
+65.28%
24.10
Other Receivables
255.27
-38.96%
418.17
+63.59%
255.63
+6.43%
240.19
Prepaid Assets
—
—
—
—
Restricted Cash
33.85
-22.77%
43.84
-27.35%
60.34
+20.09%
50.24
Assets Held For Sale Current
—
—
0.00
-100.00%
35.54
Other Current Assets
—
—
—
98.11
Total Non Current Assets
4,025.12
+10.84%
3,631.39
+3.25%
3,516.91
-0.91%
3,549.09
Net PPE
27.94
-0.90%
28.20
-0.85%
28.44
-0.81%
28.67
Gross PPE
27.94
-0.90%
28.20
-0.85%
28.44
-0.81%
28.67
Other Properties
27.94
-0.90%
28.20
-0.85%
28.44
-0.81%
28.67
Goodwill And Other Intangible Assets
797.06
-0.97%
804.89
-0.96%
812.72
-0.95%
820.55
Goodwill
491.48
+0.00%
491.48
+0.00%
491.48
+0.00%
491.48
Other Intangible Assets
305.58
-2.50%
313.41
-2.44%
321.24
-2.38%
329.07
Non Current Deferred Assets
267.68
+45.49%
183.99
+6.69%
172.46
-8.06%
187.57
Other Non Current Assets
93.36
-8.34%
101.85
+3.75%
98.17
+0.05%
98.11
Total Liabilities Net Minority Interest
2,646.77
-2.99%
2,728.32
+9.65%
2,488.29
+0.31%
2,480.50
Current Liabilities
661.81
-13.66%
766.49
+37.05%
559.25
+1.40%
551.54
Payables And Accrued Expenses
120.12
-12.61%
137.45
+37.90%
99.67
+23.46%
80.73
Payables
64.49
+17.73%
54.78
+24.02%
44.17
+34.14%
32.93
Accounts Payable
64.49
+17.73%
54.78
+24.02%
44.17
+34.14%
32.93
Current Accrued Expenses
55.63
-32.71%
82.67
+48.95%
55.50
+16.11%
47.80
Current Debt And Capital Lease Obligation
481.79
-14.94%
566.40
+45.50%
389.29
+0.13%
388.77
Current Debt
481.79
-14.94%
566.40
+45.50%
389.29
+0.13%
388.77
Other Current Borrowings
—
177.67
—
—
Current Deferred Liabilities
59.90
-4.37%
62.64
-10.90%
70.30
-7.61%
76.09
Current Deferred Revenue
59.90
-4.37%
62.64
-10.90%
70.30
-7.61%
76.09
Other Current Liabilities
—
—
—
5.94
Total Non Current Liabilities Net Minority Interest
1,984.95
+1.18%
1,961.84
+1.70%
1,929.03
+0.00%
1,928.97
Long Term Debt And Capital Lease Obligation
1,917.88
+0.02%
1,917.43
+2.01%
1,879.70
-0.34%
1,886.03
Long Term Debt
1,889.94
+0.04%
1,889.24
+2.05%
1,851.26
-0.33%
1,857.36
Long Term Capital Lease Obligation
27.94
-0.90%
28.20
-0.85%
28.44
-0.81%
28.67
Other Non Current Liabilities
67.04
+50.98%
44.41
-9.84%
49.25
+14.71%
42.93
Stockholders Equity
1,060.00
+2.84%
1,030.70
+4.58%
985.52
+3.26%
954.38
Common Stock Equity
1,060.00
+2.84%
1,030.70
+4.58%
985.52
+3.26%
954.38
Capital Stock
1.71
+1.85%
1.67
+2.64%
1.63
+1.24%
1.61
Common Stock
1.71
+1.85%
1.67
+2.64%
1.63
+1.24%
1.61
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
170.50
+1.86%
167.38
+2.66%
163.05
+1.19%
161.13
Ordinary Shares Number
170.50
+1.86%
167.38
+2.66%
163.05
+1.19%
161.13
Additional Paid In Capital
1,091.44
+1.25%
1,077.98
+1.60%
1,060.97
+0.55%
1,055.18
Retained Earnings
-39.65
+32.67%
-58.89
+29.14%
-83.11
+24.08%
-109.47
Gains Losses Not Affecting Retained Earnings
6.50
-34.56%
9.93
+64.85%
6.03
-14.50%
7.05
Minority Interest
762.19
+1.45%
751.27
+0.77%
745.53
+2.31%
728.72
Total Equity Gross Minority Interest
1,822.19
+2.26%
1,781.96
+2.94%
1,731.05
+2.85%
1,683.09
Total Capitalization
2,949.94
+1.03%
2,919.93
+2.93%
2,836.78
+0.89%
2,811.74
Working Capital
-217.97
-293.90%
112.42
-21.48%
143.16
+127.35%
62.97
Invested Capital
3,431.73
-1.57%
3,486.33
+8.07%
3,226.06
+0.80%
3,200.51
Total Debt
2,399.68
-3.39%
2,483.83
+9.47%
2,268.99
-0.26%
2,274.81
Net Debt
2,239.07
+8.16%
2,070.17
+9.31%
1,893.93
-4.43%
1,981.70
Capital Lease Obligations
27.94
-0.90%
28.20
-0.85%
28.44
-0.81%
28.67
Net Tangible Assets
262.94
+16.45%
225.81
+30.68%
172.80
+29.12%
133.82
Tangible Book Value
262.94
+16.45%
225.81
+30.68%
172.80
+29.12%
133.82
Derivative Product Liabilities
0.03
0.00
-100.00%
0.09
0.00
Dueto Related Parties Current
—
—
—
0.00
Interest Payable
4.18
-54.29%
9.13
+147.76%
3.69
+5.07%
3.51
Investment Properties
2,839.08
+13.00%
2,512.46
+4.46%
2,405.13
-0.37%
2,414.18
Line Of Credit
481.79
+23.94%
388.73
-0.14%
389.29
+0.13%
388.77
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
249.05
-4.54%
260.89
+12.22%
232.49
+10.10%
211.17
Cash Flow From Continuing Operating Activities
249.05
-4.54%
260.89
+12.22%
232.49
+10.10%
211.17
Net Income From Continuing Operations
72.98
-9.18%
80.36
-4.80%
84.41
+33.53%
63.21
Depreciation Amortization Depletion
194.76
+5.38%
184.82
-2.68%
189.91
-12.44%
216.89
Depreciation
—
—
—
—
Amortization Cash Flow
—
—
—
—
Depreciation And Amortization
194.76
+5.38%
184.82
-2.68%
189.91
-12.44%
216.89
Amortization Of Intangibles
—
—
—
—
Other Non Cash Items
-4.66
-255.26%
3.00
+159.35%
-5.06
+56.74%
-11.69
Stock Based Compensation
25.17
+16.02%
21.70
+8.34%
20.03
-4.69%
21.01
Asset Impairment Charge
—
—
0.00
0.00
Operating Gains Losses
-34.92
-173.91%
-12.75
+52.37%
-26.76
+21.25%
-33.99
Gain Loss On Sale Of PPE
-35.02
-163.25%
-13.30
+50.30%
-26.76
+21.25%
-33.99
Change In Working Capital
-4.28
+73.64%
-16.23
+45.94%
-30.03
+32.16%
-44.27
Change In Receivables
9.27
+34.67%
6.88
+144.01%
-15.64
-194.82%
-5.31
Change In Prepaid Assets
0.15
+102.58%
-5.77
-11.26%
-5.19
-129.16%
-2.26
Change In Payables And Accrued Expense
9.40
-30.87%
13.59
+1721.98%
0.75
-84.14%
4.71
Change In Payable
—
13.59
+1721.98%
0.75
-84.14%
4.71
Change In Account Payable
—
13.59
+1721.98%
0.75
-84.14%
4.71
Change In Other Working Capital
-25.69
-15.81%
-22.18
-8.54%
-20.43
+49.64%
-40.57
Change In Other Current Liabilities
2.59
+129.56%
-8.76
-183.56%
10.49
+1366.43%
-0.83
Investing Cash Flow
-550.01
-38.50%
-397.12
-413.48%
-77.34
+66.50%
-230.89
Cash Flow From Continuing Investing Activities
-550.01
-38.50%
-397.12
-413.48%
-77.34
+66.50%
-230.89
Net Investment Purchase And Sale
—
—
—
—
Net Business Purchase And Sale
0.00
+100.00%
-14.23
0.00
0.00
Purchase Of Business
0.00
+100.00%
-14.23
0.00
0.00
Net Other Investing Changes
—
-16.91
—
—
Financing Cash Flow
38.17
-75.93%
158.58
+352.22%
-62.87
+55.17%
-140.24
Cash Flow From Continuing Financing Activities
38.17
-75.93%
158.58
+352.22%
-62.87
+55.17%
-140.24
Net Issuance Payments Of Debt
94.74
-55.55%
213.14
+2569.14%
-8.63
-15.03%
-7.50
Issuance Of Debt
615.00
+39.77%
440.00
0.00
0.00
Repayment Of Debt
-520.26
-129.33%
-226.86
-2528.17%
-8.63
-15.03%
-7.50
Long Term Debt Issuance
615.00
+39.77%
440.00
0.00
0.00
Long Term Debt Payments
-520.26
-129.33%
-226.86
-2528.17%
-8.63
-15.03%
-7.50
Net Long Term Debt Issuance
94.74
-55.55%
213.14
+2569.14%
-8.63
-15.03%
-7.50
Short Term Debt Issuance
—
—
—
—
Short Term Debt Payments
—
—
—
—
Net Short Term Debt Issuance
—
—
—
—
Net Common Stock Issuance
-8.12
0.00
+100.00%
-13.11
+85.47%
-90.18
Common Stock Payments
-8.12
0.00
+100.00%
-13.11
+85.47%
-90.18
Common Stock Dividend Paid
-23.73
-2.17%
-23.22
-2.37%
-22.68
+1.84%
-23.11
Cash Dividends Paid
-27.93
-1.84%
-27.42
-2.00%
-26.89
+1.56%
-27.31
Repurchase Of Capital Stock
-8.12
0.00
+100.00%
-13.11
+85.47%
-90.18
Net Other Financing Charges
-20.52
+24.39%
-27.14
-90.43%
-14.25
+6.56%
-15.25
Changes In Cash
-262.79
-1276.01%
22.35
-75.78%
92.28
+157.69%
-159.96
Beginning Cash Position
429.30
+5.49%
406.96
+29.32%
314.68
-33.70%
474.64
End Cash Position
166.51
-61.21%
429.30
+5.49%
406.96
+29.32%
314.68
Free Cash Flow
249.05
-4.54%
260.89
+12.22%
232.49
+10.10%
211.17
Interest Paid Supplemental Data
93.37
-1.37%
94.67
+2.90%
92.00
+1.09%
91.01
Income Tax Paid Supplemental Data
3.53
+86.09%
1.90
+36.55%
1.39
+595.00%
0.20
Net Investment Properties Purchase And Sale
-550.01
-50.28%
-365.99
-373.22%
-77.34
+66.50%
-230.89
Preferred Stock Dividend Paid
-4.20
+0.00%
-4.20
+0.00%
-4.20
+0.00%
-4.20
Purchase Of Investment Properties
-610.53
-66.82%
-365.99
-120.14%
-166.25
+31.27%
-241.90
Sale Of Investment Properties
60.52
0.00
-100.00%
88.91
+707.91%
11.01
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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