Earnings summaries and quarterly performance for Empire State Realty Trust.
Executive leadership at Empire State Realty Trust.
Anthony E. Malkin
Chief Executive Officer
Christina Chiu
President
Jackie Renton
Chief Operating Officer of Real Estate
Ryan Kass
Chief Revenue Officer of Real Estate and Director of Leasing
Stephen V. Horn
Executive Vice President, Chief Financial Officer & Chief Accounting Officer
Thomas P. Durels
Executive Vice President, Real Estate
Board of directors at Empire State Realty Trust.
Research analysts who have asked questions during Empire State Realty Trust earnings calls.
Blaine Heck
Wells Fargo Securities
4 questions for ESRT
Dylan Burzinski
Green Street Advisors, LLC
4 questions for ESRT
Steve Sakwa
Evercore ISI
4 questions for ESRT
John Kim
BMO Capital Markets
3 questions for ESRT
Michael Griffin
Citigroup Inc.
2 questions for ESRT
Seth Bergey
Citi
2 questions for ESRT
Jamie Feldman
Wells Fargo & Company
1 question for ESRT
Regan Sweeney
BMO Capital Markets
1 question for ESRT
Recent press releases and 8-K filings for ESRT.
- Empire State Realty Trust (ESRT) reported Core FFO per share of $0.23 for Q3 2025 and reaffirmed its 2025 FFO guidance at $0.83-$0.86.
- The Manhattan office portfolio's occupancy increased sequentially by 80 basis points to 90.3%, with 93.1% leased, and achieved +3.9% positive mark-to-market for the 17th consecutive quarter.
- The ESB Observatory's Q3 NOI decreased by 10.6% year-over-year, impacted by lower demand from its pass program business, but its 2025 NOI guidance remains unchanged at $90-$94 million.
- ESRT maintains a strong balance sheet with 5.6x net debt to adjusted EBITDA and $0.8 billion in liquidity, and in October, announced the issuance of $175 million of 5.47% senior unsecured notes due in 2031.
- Empire State Realty Trust (ESRT) reported Core FFO of $0.23 per diluted share for Q3 2025 and reaffirmed its 2025 guidance.
- The company's Manhattan office portfolio is over 93% leased, marking its 11th consecutive quarter above 90%, with 88,000 square feet of new and renewal leases signed in Q3 and an additional 50,000 square feet post-quarter end. ESRT also achieved its 17th consecutive quarter of positive mark to market lease spreads.
- ESRT announced the issuance of $175 million of senior unsecured notes at 5.47% maturing in 2031, with proceeds for general corporate purposes including potential new investments and debt repayment. The company also noted its flexible balance sheet with 5.6 times net debt to EBITDA and is actively evaluating opportunistic share repurchases.
- The Observatory business generated approximately $26.5 million of NOI in Q3, with revenue per capita increasing 2.7% year over year. The multifamily portfolio also performed strongly with 99% occupancy and 9% year over year net rent growth.
Quarterly earnings call transcripts for Empire State Realty Trust.
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