Empire State Realty Trust (ESRT) Stock Price, News & Analysis

Company Overview

Empire State Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) focused on the ownership, management and operation of office and retail properties. The company’s portfolio features the iconic Empire State Building in Midtown Manhattan, alongside a diversified collection of commercial assets situated throughout Manhattan, Brooklyn and select markets in Upstate New York. By offering premium office space and street-level retail, Empire State Realty Trust positions itself as a landlord of choice for corporate tenants, retailers and experiential brands seeking high-profile addresses.

Established through a spin-off of assets in early 2013, Empire State Realty Trust consolidated a mix of landmark and Class A properties, creating scale in one of the world’s most competitive real estate markets. Over the years, the company has pursued both acquisitions and selective dispositions to optimize its portfolio, strengthen its balance sheet and enhance long-term income stability. Its hands-on approach to property management includes tenant relations, leasing strategy and capital improvements designed to modernize building systems and elevate the occupant experience.

In addition to its marquee office towers, Empire State Realty Trust maintains a robust retail footprint, hosting a range of global retailers, dining concepts and visitor attractions. The company leverages the draw of its flagship asset to drive foot traffic and generate ancillary revenue through marketing programs, observation deck ticket sales and media partnerships. It also emphasizes sustainability and energy efficiency initiatives, pursuing certifications and upgrades that align with evolving tenant and community expectations.

Headquartered in New York City, Empire State Realty Trust is led by Chairman and Chief Executive Officer Anthony E. Malkin, whose family has a long legacy in Manhattan real estate development and investment. Under his leadership, the trust has remained committed to enhancing shareholder value through disciplined portfolio management, strategic investments and an operational focus on maximizing occupancy and rental growth across its properties.

Key Stats

• Today's Range: $7.64 to $7.81
• 50-Day Range: $7.15 to $8.26
• 52-Week Range: $6.56 to $11.62
• Volume: 1.80 million shs
• Average Volume: 1.55 million shs
• Market Capitalization: $1.31 billion
• P/E Ratio: 32.08
• Dividend Yield: 1.82%
• Price Target: $10.43
• Consensus Rating: Hold

Empire State Realty Trust Stock Analysis - MarketRank™

Empire State Realty Trust scored higher than 87% of companies evaluated by MarketBeat, and ranked 229th out of 958 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.1 / 5
• Analyst Rating: Hold

Consensus Rating

Empire State Realty Trust has received a consensus rating of Hold. The company's average rating score is 2.25, and is based on 2 buy ratings, 1 hold rating, and 1 sell rating.

Upside Potential

Empire State Realty Trust has a consensus price target of $10.43, representing about 35.5% upside from its current price of $7.70.

Amount of Analyst Coverage

Empire State Realty Trust has received no research coverage in the past 90 days.

Earnings and Valuation

• Score: 1.9 / 5
• Proj. Earnings Growth: N/A

Price to Earnings Ratio vs. the Market

The P/E ratio of Empire State Realty Trust is 32.08, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 280.68.

Price to Earnings Ratio vs. Sector

The P/E ratio of Empire State Realty Trust is 32.08, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 246.55.

Price to Book Value per Share Ratio

Empire State Realty Trust has a P/B Ratio of 0.72. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

3.86% of the float of Empire State Realty Trust has been sold short.

Short Interest Ratio / Days to Cover

Empire State Realty Trust has a short interest ratio ("days to cover") of 3, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Empire State Realty Trust has recently increased by 6.81%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 1.7 / 5
• Dividend Strength: Weak

Dividend Yield

Empire State Realty Trust pays a meaningful dividend of 1.77%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

Empire State Realty Trust does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Empire State Realty Trust is 58.33%. This payout ratio is at a healthy, sustainable level, below 75%.

Sustainability and ESG

• Score: 2.6 / 5
• Environmental Score: -2.42

Percentage of Shares Shorted

3.86% of the float of Empire State Realty Trust has been sold short.

Short Interest Ratio / Days to Cover

Empire State Realty Trust has a short interest ratio ("days to cover") of 3, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Empire State Realty Trust has recently increased by 6.81%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 2.7 / 5
• News Sentiment: 1.87

News Sentiment

Empire State Realty Trust has a news sentiment score of 1.87. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 1.05 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 4 news articles for Empire State Realty Trust this week, compared to 4 articles on an average week.

Search Interest

Only 2 people have searched for ESRT on MarketBeat in the last 30 days. This is a decrease of -50% compared to the previous 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Empire State Realty Trust insiders have not sold or bought any company stock.

Percentage Held by Insiders

14.60% of the stock of Empire State Realty Trust is held by insiders. A high percentage of insider ownership can be a sign of company health.

Percentage Held by Institutions

67.10% of the stock of Empire State Realty Trust is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

ESRT Stock Analysis - Frequently Asked Questions

How have ESRT shares performed this year?

Empire State Realty Trust's stock was trading at $10.32 at the beginning of 2025. Since then, ESRT shares have decreased by 25.4% and is now trading at $7.70.

How were Empire State Realty Trust's earnings last quarter?

Empire State Realty Trust, Inc. (NYSE:ESRT) posted its quarterly earnings data on Wednesday, July, 23rd. The real estate investment trust reported $0.22 EPS for the quarter. The real estate investment trust earned $153.54 million during the quarter. Empire State Realty Trust had a trailing twelve-month return on equity of 2.45% and a net margin of 5.67%.
Read the conference call transcript.

Who are Empire State Realty Trust's major shareholders?

Top institutional shareholders of Empire State Realty Trust include Ameriprise Financial Inc. (6.40%), Resolution Capital Ltd (3.21%), Geode Capital Management LLC (2.11%) and William Blair Investment Management LLC (1.95%).
View institutional ownership trends.

How do I buy shares of Empire State Realty Trust?

Shares of ESRT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.

What other stocks do shareholders of Empire State Realty Trust own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Empire State Realty Trust investors own include DiamondRock Hospitality (DRH), American Water Works (AWK), Waste Connections (WCN), The RMR Group (RMR), AU Optronics (AUOTY), iShares Micro-Cap ETF (IWC) and Triple Flag Precious Metals (TFPM).

Company Calendar

• Record date for 6/30 Dividend: 6/13/2025
• Ex-Dividend for 6/30 Dividend: 6/13/2025
• Dividend Payable: 6/30/2025
• Last Earnings: 7/23/2025
• Record date for 9/30 Dividend: 9/15/2025
• Ex-Dividend for 9/30 Dividend: 9/15/2025
• Today: 9/16/2025
• Dividend Payable: 9/30/2025
• Next Earnings (Estimated): 10/20/2025
• Fiscal Year End: 12/31/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Finance
• Industry: REIT - EQTY TRUST - OTHER
• Sub-Industry: Trading
• Current Symbol: NYSE:ESRT
• CIK: 1541401
• Web: www.empirestaterealtytrust.com
• Phone: (212) 850-2600
• Fax: 212-850-2751
• Employees: 670
• Year Founded: N/A

Price Target and Rating

• Average Price Target for Empire State Realty Trust: $10.43
• High Price Target: $13.00
• Low Price Target: $8.30
• Potential Upside/Downside: +34.3%
• Consensus Rating: Hold
• Rating Score (0-4): 2.25
• Research Coverage: 4 Analysts

Profitability

• EPS (Trailing Twelve Months): $0.24
• Trailing P/E Ratio: 32.38
• Forward P/E Ratio: 8.83
• P/E Growth: N/A
• Net Income: $51.64 million
• Net Margins: 5.67%
• Pretax Margin: 9.27%
• Return on Equity: 2.45%
• Return on Assets: 1.02%

Debt

• Debt-to-Equity Ratio: 1.15
• Current Ratio: 4.03
• Quick Ratio: 4.03

Sales & Book Value

• Annual Sales: $767.92 million
• Price / Sales: 1.72
• Cash Flow: $1.47 per share
• Price / Cash Flow: 5.28
• Book Value: $10.65 per share
• Price / Book: 0.73

Miscellaneous

• Outstanding Shares: 169,610,000
• Free Float: 144,850,000
• Market Cap: $1.32 billion
• Optionable: Optionable
• Beta: 1.78