earnings
confidence high
sentiment positive
materiality 0.70
ESRT Q3 Core FFO $0.26 beats prior year; guidance raised to $0.92-$0.94
Empire State Realty Trust, Inc.
2024-Q3 EPS reported
$0.22
revenue$570,321,000
- Net income $0.08/diluted share; Core FFO $0.26 vs $0.25 in Q3 2023.
- Same-store property cash NOI up 5.2% YoY (excl. lease termination fees).
- Manhattan office leased rate 93.6% (+170bps YoY); signed 304k sq ft of leases.
- Closed $143M of $195M Williamsburg retail acquisition; agreed $30M additional asset.
- Guidance raised: Core FFO $0.92-$0.94; liquidity $0.9B; no floating-rate debt.