earnings
confidence high
sentiment negative
materiality 0.70
ESRT Q4 net income $0.08/shr; Core FFO $0.22; guides 2023 Core FFO $0.82-0.86
Empire State Realty Trust, Inc.
2022-FY EPS reported
$0.22
revenue$727,041,000
- Q4 net income $0.08/shr vs. -$0.02 YoY; Core FFO $0.22/shr vs. $0.18 YoY.
- Full-year 2022 Core FFO $0.90/shr; same-store cash NOI ex lease fees down 4.1% YoY.
- 2023 Core FFO guidance $0.82-$0.86/shr; same-store cash NOI expected -4% to -6%.
- Acquired 298 Mulberry St multifamily for $115M; sold 10 Bank St ($42M) and Westport retail ($40M).
- Liquidity $1.1B; $2.3B debt at 3.9% avg rate; no maturities until Nov 2024.