earnings
confidence high
sentiment negative
materiality 0.75
ESRT posts Q3 EPS loss of $0.04, Core FFO $0.20; agrees to buy two Manhattan multifamily assets for $307M
Empire State Realty Trust, Inc.
2021-Q3 EPS reported
-$0.04
revenue$463,760,000
- Core FFO $0.20 per diluted share; GAAP EPS loss $0.04 per share.
- Signed conditional agreement to acquire two multifamily assets (625 units) for ~$307M including $186M assumed debt.
- Same-store cash NOI ex termination fees down 5.7% YoY; portfolio occupancy 83.5%.
- Observatory revenue $12.8M, NOI $6.4M; attendance ~255,000 visitors in Q3.
- $1.4B liquidity; no debt maturities until Nov 2024; $6.5M stock buyback in Q3.