ESRT Q2 2024: Core FFO $0.24, net income $0.10; signs 272K sqft leases; acquires $195M Brooklyn retail

Empire State Realty Trust, Inc.

2024-Q2 EPS reported $0.14 revenue$370,722,000

Net income $0.10 per fully diluted share; Core FFO $0.24 per share.
Same-Store Property Cash NOI +7.4% YoY; Manhattan office leased rate 93.3% (up 170bps YoY).
Signed 272,000 rentable sqft of leases; 12th consecutive quarter of positive leasing spreads.
Post-Q2, entered agreements to acquire two Williamsburg retail portfolios for $195M aggregate.
Reaffirmed 2024 Core FFO guidance $0.90-$0.94; $1.0B liquidity, no floating rate debt.

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