earnings
confidence high
sentiment neutral
materiality 0.70
Empire State Realty Trust Q4 2021 EPS ($0.02), Core FFO $0.18, observatory revenue up 38%
Empire State Realty Trust, Inc.
2021-FY EPS reported
-$0.06
revenue$624,094,000
- EPS ($0.02) per diluted share; Core FFO $0.18; full-year Core FFO $0.70 per share.
- Same-store cash NOI (ex lease fees) down 4.9% YoY; portfolio occupied 82.4%, leased 85.7%.
- Observatory revenue $17.7M (+38% QoQ), NOI $10.7M; 360k visitors vs 255k in Q3 2021.
- Recapitalized 625 multifamily units for $307M (incl. $186M debt); ESRT retains 90% interest.
- Repurchased $41.7M stock at $9.46/shr; $1.3B liquidity, no debt maturities until Nov 2024.