earnings
confidence high
sentiment neutral
materiality 0.65
ESRT Q4 net income $0.12/sh, Core FFO $0.23/sh; 2025 acquisitions $417M
Empire State Realty Trust, Inc.
2025-FY EPS reported
$0.25
revenue$768,270,000
- Q4 net income $0.12 per diluted share; full year $0.25. Core FFO $0.23 Q4, $0.87 full year (vs $0.24 and $0.95 in 2024).
- Same-store Property Cash NOI (excl. termination fees) +0.9% Q4, -2.0% FY; adjusted +3.4% Q4, +0.6% FY.
- Office occupancy 89.9%, total commercial 90.3%. Signed 458k sq ft commercial leases in Q4, 1.01M sq ft in FY.
- Completed $386M all-cash acquisition of 130 Mercer St (SoHo); sold last suburban asset; portfolio now 100% NYC.
- Issued $175M senior unsecured notes (5.47%, 2031); upsized term loan to $245M. No debt maturity until March 2027.