earnings
confidence high
sentiment positive
materiality 0.55
ESRT Q3 Core FFO $0.23, net income $0.05; reiterates 2025 guidance; occupancy up
Empire State Realty Trust, Inc.
2025-Q3 EPS reported
$0.14
revenue$569,046,000
- Net income of $0.05 per diluted share; Core FFO of $0.23 per share.
- Same-Store Property Cash NOI (ex termination fees) down 1.5% YoY; +1.1% adjusted for non-recurring items.
- Manhattan office occupancy rose 80 bps sequentially to 90.3%; total commercial portfolio 90.0%.
- Signed 87,880 RSF of commercial leases; blended Manhattan office spreads +3.9% (17th consecutive positive quarter).
- Reaffirmed 2025 Core FFO guidance $0.83-$0.86; $0.8B liquidity; $175M unsecured notes priced at 5.47% due 2031.