LIVE

ESRT

Empire State Realty Trust, Inc.

ESRT

NYSE·Real Estate·REIT - Diversified·Mkt cap $944.7M

$5.69

▲ +3.27%

View full research view

Our plain-language verdict, the thesis, risk factors, and what is changing about the business.

View research view

52-Week Range

$4.87 - $8.36

P/E

34.51

Fwd P/E

6.54

Beta

1.36

Div Yield

2.54%

Avg Vol

2.0M

Shares Out

170.1M

Mkt Cap

$944.7M

Price action

Price chart

Down 33.5% over the trailing year

1W
1M
3M
6M
YTD
1Y
5Y
MAX

Total returns

Price performance

Total return across standard periods - splits & dividends adjusted by FMP. Periods longer than 1Y show annualized in the tooltip.

Why we rate it this way

The thesis at a glance

Bull and bear case · plain-English context across the five lenses we evaluate.

▲

Bull Case

5 reasons

  • Iconic Empire State Building asset providing brand recognition and premium tenant attraction
  • Prime Manhattan location with 9 office properties in the world's most competitive commercial real estate market
  • Industry-leading sustainability credentials including first U.S. commercial portfolio with WELL Health-Safety Rating
  • Diversified geographic footprint across Manhattan, Connecticut, and Westchester County reducing market concentration risk
  • Established expertise in energy efficiency retrofits and indoor environmental quality improvements
▼

Bear Case

1 risk

  • Average volatility.

Growth

Stable outlook

Positive revenue trend

Value

Deep value opportunity - significant discount to Industrial REITs peers

Momentum

Strong

+6.8% over 3m

Quality

Loss-making

Solid business

Dividend

Solid

2.54% yield

Earnings track record

Recent earnings results

AI-summarized recap of last quarter, plus the surprise on every print.

Next: Apr 27, 2026

“
Q2 26 RECAP

APR 29, 2026

Revenue of $190.3M vs $183.4M expected (+3.8%).

Rev beat +3.8%

EPS surprise · last 4Q

0 of 1 beats

Q2 26

—

Next: Apr 27, 2026

Revenue trend · last 8Q

—

—

+2%

-1%

+1%

-1%

+1%

+6%

Q2 24

Q3 24

Q4 24

Q1 25

Q2 25

Q3 25

Q4 25

Q1 26

$189.5M

$199.6M

$197.6M

$180.1M

$190.8M

$197.7M

$199.2M

$190.3M

Margins · last 8Q

Gross

—

Operating

—

Profit

1.2%

View full earnings history →

Wall Street consensus

3 analysts · 0% Buy

Live ratings and price targets aggregated across covering analysts.

Buy

0%

Hold

2

67%

Sell

1

33%

Median Price Target

—

Latest: Wells Fargo · Jun 1, 2026

View full analyst page →

vs Industry

How ESRT stacks vs REIT - Diversified

Stock metrics vs industry averages. Green = better than industry.

Industry comparison data unavailable for this stock.