ESRT Q1: Core FFO $0.21/sh; Manhattan office lease rate 92.7%; reaffirms 2024 guidance

Empire State Realty Trust, Inc.

2024-Q1 EPS reported $0.03 revenue$181,179,000

Net income $0.03/diluted share; Core FFO $0.21/diluted share.
Same-store property cash NOI +12.3% YoY (ex lease termination fees); ~8% after nonrecurring adjustments.
Manhattan office 92.7% leased (+60bp QoQ, +200bp YoY); total commercial 91.1% leased.
Closed $715M credit facility (2029 maturity); entered $225M green note private placement at 7.25% wtd avg rate.
Reaffirms 2024 Core FFO guidance $0.90–$0.94; Observatory NOI $94M–$102M.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Empire State Realty Trust, Inc. reported first quarter 2024 results: net income $0.03 per share, EPS $0.03 per share. Guidance reaffirmed.

Period: first quarter 2024
Net income: $0.03 per share
EPS: $0.03 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Empire State Realty Trust, Inc. (the “Company” or “we”) issued a press release announcing its financial results for the first quarter 2024.

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Empire State Realty Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-051251

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