earnings
confidence high
sentiment neutral
materiality 0.70
Empire State Realty Trust Q1 Core FFO $0.18/sh, guides FY 2022 Core FFO $0.73-$0.78
Empire State Realty Trust, Inc.
2022-Q1 EPS reported
-$0.07
revenue$164,034,000
- Net loss attributable to common stockholders per diluted share ($0.07); Core FFO $0.18 vs $0.15 prior year.
- Same-Store Cash NOI ex lease term fees up 0.9% YoY; portfolio 87.0% leased (Manhattan office 88.6%).
- Signed 318,646 SF of leases including 70,600 SF new lease with Progyny, Inc.
- Observatory revenue $13.2M, NOI $7.0M; visitation at 45% of 2019 Q1 levels, rising to 60% range in April.
- 2022 Core FFO guidance $0.73-$0.78 per diluted share; $1.3B liquidity, no debt maturity until Nov 2024.