(ESRT) Empire State Realty Trust - Overview
Exchange: NYSE •
Country: United States •
Currency: USD •
Type: Common Stock •
ISIN: US2921041065
Stock: Office Space, Retail Leasing, Multifamily Units, Observatory Attraction
Total Rating 33
Risk 73
Buy Signal -0.23
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 1.80% |
| Yield on Cost 5y | 1.51% |
| Yield CAGR 5y | 7.46% |
| Payout Consistency | 90.5% |
| Payout Ratio | 1.6% |
| Risk 5d forecast | |
|---|---|
| Volatility | 31.2% |
| Relative Tail Risk | -0.93% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.98 |
| Alpha | -42.34 |
| Character TTM | |
|---|---|
| Beta | 0.813 |
| Beta Downside | 0.900 |
| Drawdowns 3y | |
|---|---|
| Max DD | 44.96% |
| CAGR/Max DD | -0.08 |
Description: ESRT Empire State Realty Trust January 13, 2026
Empire State Realty Trust, Inc. (NYSE: ESRT) is a New York-city-centric REIT that owns and operates roughly 7.8 million rentable square feet of office space, 0.8 million rentable square feet of retail space, and 743 residential units, anchored by the iconic Empire State Building, which has been ranked the #1 NYC attraction by TripAdvisor for four straight years.
Recent data (Q3 2025) show an average office occupancy of 92 % and a retail occupancy of 85 %, reflecting the city’s post-pandemic rebound; the trust reported a 2024 adjusted FFO of $0.95 per share, a 7 % YoY increase driven by rent escalations and cost-saving energy-efficiency initiatives. Key macro drivers include NYC’s strong employment growth (+2.3 % YoY in Q3 2025) and the Fed’s tightening cycle, which pressures cap rates but also supports demand for high-quality, centrally located assets.
For a deeper, data-rich analysis of ESRT’s valuation metrics and scenario modeling, you may find ValueRay’s platform useful as a next step in your research.
Piotroski VR‑10 (Strict, 0-10) 4.0
| Net Income: 47.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -0.51 > 1.0 |
| NWC/Revenue: 5.15% < 20% (prev 49.12%; Δ -43.97% < -1%) |
| CFO/TA 0.06 > 3% & CFO 265.2m > Net Income 47.0m |
| Net Debt (1.90b) to EBITDA (336.9m): 5.65 < 3 |
| Current Ratio: 1.09 > 1.5 & < 3 |
| Outstanding Shares: last quarter (270.4m) vs 12m ago 0.28% < -2% |
| Gross Margin: 60.47% > 18% (prev 0.54%; Δ 5993 % > 0.5%) |
| Asset Turnover: 17.94% > 50% (prev 17.20%; Δ 0.74% > 0%) |
| Interest Coverage Ratio: 1.36 > 6 (EBITDA TTM 336.9m / Interest Expense TTM 107.2m) |
Altman Z'' 0.23
| A: 0.01 (Total Current Assets 484.2m - Total Current Liabilities 444.8m) / Total Assets 4.11b |
| B: -0.01 (Retained Earnings -53.1m / Total Assets 4.11b) |
| C: 0.03 (EBIT TTM 146.2m / Avg Total Assets 4.27b) |
| D: -0.02 (Book Value of Equity -53.1m / Total Liabilities 2.31b) |
| Altman-Z'' Score: 0.23 = B |
Beneish M -3.88
| DSRI: 0.06 (Receivables 27.4m/447.2m, Revenue 766.2m/763.2m) |
| GMI: 0.90 (GM 60.47% / 54.26%) |
| AQI: 1.11 (AQ_t 0.88 / AQ_t-1 0.79) |
| SGI: 1.00 (Revenue 766.2m / 763.2m) |
| TATA: -0.05 (NI 47.0m - CFO 265.2m) / TA 4.11b) |
| Beneish M-Score: -3.88 (Cap -4..+1) = AAA |
What is the price of ESRT shares?
As of February 07, 2026, the stock is trading at USD 6.75 with a total of 718,088 shares traded.
Over the past week, the price has changed by +1.81%, over one month by +2.90%, over three months by -6.94% and over the past year by -29.01%.
Over the past week, the price has changed by +1.81%, over one month by +2.90%, over three months by -6.94% and over the past year by -29.01%.
Is ESRT a buy, sell or hold?
Empire State Realty Trust has received a consensus analysts rating of 3.29.
Therefor, it is recommend to hold ESRT.
- StrongBuy: 1
- Buy: 2
- Hold: 3
- Sell: 0
- StrongSell: 1
What are the forecasts/targets for the ESRT price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 7.8 | 15% |
| Analysts Target Price | 7.8 | 15% |
| ValueRay Target Price | 6.6 | -2.4% |
ESRT Fundamental Data Overview February 03, 2026
P/E Trailing = 33.15
P/E Forward = 129.8701
P/S = 2.5699
P/B = 1.0976
P/EG = 7.6332
Revenue TTM = 766.2m USD
EBIT TTM = 146.2m USD
EBITDA TTM = 336.9m USD
Long Term Debt = 1.79b USD (from longTermDebt, last quarter)
Short Term Debt = 269.0m USD (from shortLongTermDebt, last quarter)
Debt = 2.48b USD (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 1.90b USD (from netDebt column, last quarter)
Enterprise Value = 4.30b USD (1.97b + Debt 2.48b - CCE 154.1m)
Interest Coverage Ratio = 1.36 (Ebit TTM 146.2m / Interest Expense TTM 107.2m)
EV/FCF = 53.88x (Enterprise Value 4.30b / FCF TTM 79.8m)
FCF Yield = 1.86% (FCF TTM 79.8m / Enterprise Value 4.30b)
FCF Margin = 10.41% (FCF TTM 79.8m / Revenue TTM 766.2m)
Net Margin = 6.13% (Net Income TTM 47.0m / Revenue TTM 766.2m)
Gross Margin = 60.47% ((Revenue TTM 766.2m - Cost of Revenue TTM 302.9m) / Revenue TTM)
Gross Margin QoQ = 83.19% (prev 53.01%)
Tobins Q-Ratio = 1.05 (Enterprise Value 4.30b / Total Assets 4.11b)
Interest Expense / Debt = 1.01% (Interest Expense 25.2m / Debt 2.48b)
Taxrate = 10.76% (1.65m / 15.3m)
NOPAT = 130.5m (EBIT 146.2m * (1 - 10.76%))
Current Ratio = 1.09 (Total Current Assets 484.2m / Total Current Liabilities 444.8m)
Debt / Equity = 2.38 (Debt 2.48b / totalStockholderEquity, last quarter 1.04b)
Debt / EBITDA = 5.65 (Net Debt 1.90b / EBITDA 336.9m)
Debt / FCF = 23.86 (Net Debt 1.90b / FCF TTM 79.8m)
Total Stockholder Equity = 1.04b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.10% (Net Income 47.0m / Total Assets 4.11b)
RoE = 4.54% (Net Income TTM 47.0m / Total Stockholder Equity 1.04b)
RoCE = 5.18% (EBIT 146.2m / Capital Employed (Equity 1.04b + L.T.Debt 1.79b))
RoIC = 4.09% (NOPAT 130.5m / Invested Capital 3.19b)
WACC = 4.44% (E(1.97b)/V(4.45b) * Re(8.91%) + D(2.48b)/V(4.45b) * Rd(1.01%) * (1-Tc(0.11)))
Discount Rate = 8.91% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.63%
[DCF Debug] Terminal Value 85.32% ; FCFF base≈91.5m ; Y1≈83.1m ; Y5≈72.5m
Fair Price DCF = 1.69 (EV 2.19b - Net Debt 1.90b = Equity 286.1m / Shares 169.2m; r=5.90% [WACC]; 5y FCF grow -11.42% → 2.90% )
EPS Correlation: -18.21 | EPS CAGR: 116.8% | SUE: 0.0 | # QB: 0
Revenue Correlation: 59.14 | Revenue CAGR: 5.75% | SUE: 0.01 | # QB: 0
EPS next Year (2026-12-31): EPS=0.06 | Chg30d=+0.000 | Revisions Net=-1 | Growth EPS=-14.3% | Growth Revenue=+3.9%
P/E Forward = 129.8701
P/S = 2.5699
P/B = 1.0976
P/EG = 7.6332
Revenue TTM = 766.2m USD
EBIT TTM = 146.2m USD
EBITDA TTM = 336.9m USD
Long Term Debt = 1.79b USD (from longTermDebt, last quarter)
Short Term Debt = 269.0m USD (from shortLongTermDebt, last quarter)
Debt = 2.48b USD (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 1.90b USD (from netDebt column, last quarter)
Enterprise Value = 4.30b USD (1.97b + Debt 2.48b - CCE 154.1m)
Interest Coverage Ratio = 1.36 (Ebit TTM 146.2m / Interest Expense TTM 107.2m)
EV/FCF = 53.88x (Enterprise Value 4.30b / FCF TTM 79.8m)
FCF Yield = 1.86% (FCF TTM 79.8m / Enterprise Value 4.30b)
FCF Margin = 10.41% (FCF TTM 79.8m / Revenue TTM 766.2m)
Net Margin = 6.13% (Net Income TTM 47.0m / Revenue TTM 766.2m)
Gross Margin = 60.47% ((Revenue TTM 766.2m - Cost of Revenue TTM 302.9m) / Revenue TTM)
Gross Margin QoQ = 83.19% (prev 53.01%)
Tobins Q-Ratio = 1.05 (Enterprise Value 4.30b / Total Assets 4.11b)
Interest Expense / Debt = 1.01% (Interest Expense 25.2m / Debt 2.48b)
Taxrate = 10.76% (1.65m / 15.3m)
NOPAT = 130.5m (EBIT 146.2m * (1 - 10.76%))
Current Ratio = 1.09 (Total Current Assets 484.2m / Total Current Liabilities 444.8m)
Debt / Equity = 2.38 (Debt 2.48b / totalStockholderEquity, last quarter 1.04b)
Debt / EBITDA = 5.65 (Net Debt 1.90b / EBITDA 336.9m)
Debt / FCF = 23.86 (Net Debt 1.90b / FCF TTM 79.8m)
Total Stockholder Equity = 1.04b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.10% (Net Income 47.0m / Total Assets 4.11b)
RoE = 4.54% (Net Income TTM 47.0m / Total Stockholder Equity 1.04b)
RoCE = 5.18% (EBIT 146.2m / Capital Employed (Equity 1.04b + L.T.Debt 1.79b))
RoIC = 4.09% (NOPAT 130.5m / Invested Capital 3.19b)
WACC = 4.44% (E(1.97b)/V(4.45b) * Re(8.91%) + D(2.48b)/V(4.45b) * Rd(1.01%) * (1-Tc(0.11)))
Discount Rate = 8.91% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.63%
[DCF Debug] Terminal Value 85.32% ; FCFF base≈91.5m ; Y1≈83.1m ; Y5≈72.5m
Fair Price DCF = 1.69 (EV 2.19b - Net Debt 1.90b = Equity 286.1m / Shares 169.2m; r=5.90% [WACC]; 5y FCF grow -11.42% → 2.90% )
EPS Correlation: -18.21 | EPS CAGR: 116.8% | SUE: 0.0 | # QB: 0
Revenue Correlation: 59.14 | Revenue CAGR: 5.75% | SUE: 0.01 | # QB: 0
EPS next Year (2026-12-31): EPS=0.06 | Chg30d=+0.000 | Revisions Net=-1 | Growth EPS=-14.3% | Growth Revenue=+3.9%