ESRT Class A Empire State Realty Trust, Inc. Class A Common Stock
NYSE · Real Estate · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 6, 2026
$4.17
· of 52w range
· above low
· to high
$3.9352w low
$8.0452w high
P/E (TTM)
208.5
EPS (TTM)
$0.02
Revenue (TTM)
$784M
your badges
52W Range
$4–$8
Analyst Rating
BUY
Price Target
$5
P/E
208.5
ROE
0.89%
Net Profit Margin
1.2%
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ESRT Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$4.17
P/E (TTM)
208.5
EPS (TTM)
$0.02
Revenue (TTM)
$784M
ROE (TTM)
0.89%
52W Range
$4–$8
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About Empire State Realty Trust, Inc. Class A Common Stock Company overview from Wikipedia
sectorReal Estate
industryReal Estate
employees642
countryUS
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$768M2023-12-31 → 2025-12-31
EPS$0.252023-12-31 → 2025-12-31
Free Cash Flow·2023-12-31 → 2023-12-31
Net margin1.2%2023-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | ESRT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 208.5 | · | 88.0 | Overvalued |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | ESRT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | -4.4% | · | · | · | |
| EBITDA Margin (TTM) | 20.9% | · | 32.1% | Weak | |
| Pretax Margin (TTM) | 1.3% | · | -39.9% | Top tier | |
| Net Profit Margin (TTM) | 1.2% | · | -20.1% | In line | |
| ROA (TTM) | 0.22% | · | -2.1% | Top tier | |
| ROE (TTM) | 0.89% | · | -5.4% | Top tier | |
| ROIC | 12.4% | · | · | · |
Financial Health Debt, liquidity, solvency — balance sheet strength
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | ESRT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 0.05% | · | · | · | |
| Revenue CAGR 3Y | 1.9% | · | · | · | |
| Revenue CAGR 5Y | 4.8% | · | · | · | |
| EPS YoY | -10.7% | · | · | · | |
| Net Income YoY | -9.2% | · | · | · | |
| EPS CAGR 3Y | 4.3% | · | · | · | |
| Net Income CAGR 3Y | 4.9% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | ESRT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.2 | · | 0.1 | Top tier | |
| Revenue / Employee | ≈$1.2M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Payout Ratio32.5%
Annualized Payout≈$0.14
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Sep 15, 2026 | $0.04 | USD | ≈3.3% |
| Jun 15, 2026 | $0.04 | USD | ≈2.6% |
| Mar 13, 2026 | $0.04 | USD | ≈2.7% |
| Dec 15, 2025 | $0.04 | USD | ≈2.0% |
| Sep 15, 2025 | $0.04 | USD | ≈1.8% |
| Jun 13, 2025 | $0.04 | USD | ≈1.6% |
| Mar 14, 2025 | $0.04 | USD | ≈1.7% |
| Dec 16, 2024 | $0.04 | USD | ≈1.3% |
| Sep 16, 2024 | $0.04 | USD | ≈1.3% |
| Jun 14, 2024 | $0.04 | USD | ≈1.5% |
| Mar 14, 2024 | $0.04 | USD | ≈1.5% |
| Dec 15, 2023 | $0.04 | USD | ≈1.5% |
| Sep 14, 2023 | $0.04 | USD | ≈1.6% |
| Jun 14, 2023 | $0.04 | USD | ≈2.0% |
| Mar 14, 2023 | $0.04 | USD | ≈2.1% |
| Dec 16, 2022 | $0.04 | USD | ≈2.1% |
| Sep 14, 2022 | $0.04 | USD | ≈1.9% |
| Jun 14, 2022 | $0.04 | USD | ≈2.1% |
| Mar 14, 2022 | $0.04 | USD | ≈1.5% |
| Dec 17, 2021 | $0.04 | USD | ≈1.2% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
1762.7%
Next Report
Oct 27, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Jul 21, 2026 | $0.21 | — | — |
| March 31, 2026 | $0.20 | — | — | |
| Dec. 31, 2025 | $0.23 | — | — | |
| Sept. 30, 2025 | $0.23 | — | — | |
| June 30, 2025 | $0.22 | — | — | |
| March 31, 2025 | $0.19 | $0.01 | 1762.7% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $768M | $768M | $740M | $727M | $624M | $609M | $731M | $732M | $710M | $677M | $658M | $635M | |
| SG&A Expense | $73M | $70M | $64M | $62M | $56M | $62M | $61M | $53M | $50M | $49M | $38M | $39M | |
| Operating Expenses | $633M | $609M | $593M | $600M | $545M | $551M | $577M | $541M | $517M | $493M | $506M | $494M | |
| Operating Income | $136M | $159M | $147M | $127M | $79M | $59M | $155M | $191M | $193M | $184M | $151M | $141M | |
| Interest Expense | · | · | $101M | $101M | $94M | $90M | $79M | $80M | $68M | $71M | $66M | $66M | |
| Pretax Income | $76M | $83M | $87M | $65M | $-15M | $-30M | $87M | $122M | $125M | $113M | $84M | $75M | |
| Income Tax | $3M | $3M | $3M | $2M | $-2M | $-7M | $2M | $5M | $7M | $6M | $4M | $5M | |
| Net Income | $73M | $80M | $84M | $63M | $-13M | $-23M | $84M | · | · | · | · | · | |
| EPS (Basic) | $0.26 | $0.29 | $0.30 | $0.22 | $-0.06 | $-0.10 | $0.28 | $0.39 | $0.40 | $0.38 | $0.30 | $0.27 | |
| EPS (Diluted) | $0.25 | $0.28 | $0.30 | $0.22 | $-0.06 | $-0.10 | $0.28 | $0.39 | $0.39 | $0.38 | $0.29 | $0.27 | |
| Shares (Basic) | 168,539,000 | 164,902,000 | 161,122,000 | 165,039,000 | 172,445,000 | 175,169,000 | 178,340,000 | 167,571,000 | 158,380,000 | 133,881,000 | 114,245,000 | 97,941,000 | |
| Shares (Diluted) | 270,040,000 | 269,019,000 | 265,633,000 | 269,948,000 | 277,420,000 | 283,837,000 | 297,798,000 | 297,259,000 | 298,049,000 | 277,568,000 | 266,621,000 | 254,506,000 | |
| EBITDA | $330M | $344M | $337M | $344M | $281M | $250M | $336M | $359M | $357M | $340M | $323M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $133M | $385M | $347M | $264M | $424M | $527M | $234M | $205M | $464M | $554M | $47M | $46M | |
| Short-term Investments | · | · | · | · | · | · | $0 | $400M | $0 | · | · | · | |
| Goodwill | $491M | $491M | $491M | $491M | $491M | $491M | $491M | $491M | $491M | $491M | $491M | $491M | |
| Intangibles | · | · | · | · | · | · | · | · | · | · | · | $290M | |
| Total Assets | $4.47B | $4.51B | $4.22B | $4.16B | $4.28B | $4.15B | $3.93B | $4.20B | $3.93B | $3.89B | $3.30B | $3.28B | |
| Total Liabilities | $2.65B | $2.73B | $2.49B | $2.48B | $2.60B | $2.42B | $1.98B | $2.20B | $1.95B | $1.91B | $1.93B | $1.90B | |
| Long-term Debt | · | · | · | · | · | · | · | $609M | $717M | $759M | $748M | $899M | |
| Paid-in Capital | $1.09B | $1.08B | $1.06B | $1.06B | $1.15B | $1.15B | $1.23B | $1.20B | $1.13B | $1.10B | $469M | $407M | |
| Retained Earnings | $-40M | $-59M | $-83M | $-109M | $-134M | $-66M | $16M | $42M | $47M | $51M | $55M | $61M | |
| AOCI | $7M | $10M | $6M | $7M | $-21M | $-28M | $-21M | $-9M | $-9M | $-3M | $-883.0K | $0 | |
| Stockholders' Equity | $1.06B | $1.03B | $986M | $954M | $998M | $1.06B | $1.23B | $1.24B | $1.17B | $1.15B | $525M | $469M | |
| Liabilities + Equity | $4.47B | $4.51B | $4.22B | $4.16B | $4.28B | $4.15B | $3.93B | $4.20B | $3.93B | $3.89B | $3.30B | $3.28B |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $195M | $185M | $190M | $217M | $202M | $191M | $182M | $169M | $161M | $155M | $171M | $145M | |
| Stock-based Comp | $25M | $22M | $20M | $21M | $20M | $25M | $21M | $19M | $14M | $10M | $5M | $4M | |
| Deferred Tax | $384.0K | $276.0K | $1M | $1M | $-2M | $660.0K | $480.0K | $0 | $446.0K | $459.0K | $-267.0K | $-390.0K | |
| Amort. of Intangibles | $6M | $5M | $7M | $12M | · | · | · | · | · | · | · | · | |
| Other Non-cash | $-44M | $-26M | $-63M | $-91M | $6M | · | · | · | · | · | · | · | |
| Operating Cash Flow | $249M | $261M | $232M | $211M | $212M | $182M | $233M | $279M | $194M | $215M | $203M | $139M | |
| CapEx | · | · | $169M | $86M | $398M | $104M | $256M | $256M | $228M | $198M | $157M | $498M | |
| Investing Cash Flow | $-550M | $-397M | $-77M | $-231M | $-213M | $-143M | $150M | $-643M | $-223M | $-182M | $-142M | $-299M | |
| Debt Issued | · | · | · | · | · | · | · | $160M | $315M | $50M | $0 | $191M | |
| Net Debt Issued | · | · | · | · | · | · | · | $-107M | $-32M | $18M | $-147M | · | |
| Stock Issued | · | · | · | · | · | $0 | $0 | $5M | $0 | $611M | $0 | $0 | |
| Stock Repurchased | $8M | $0 | $13M | $90M | $47M | $144M | $0 | $0 | · | · | · | · | |
| Net Stock Activity | $-8M | $0 | $-13M | $-90M | $-47M | $-144M | $0 | $5M | $0 | $611M | $0 | · | |
| Dividends Paid | $24M | $23M | $23M | $23M | $18M | $37M | $75M | $71M | $67M | $56M | $39M | $34M | |
| Financing Cash Flow | $38M | $159M | $-63M | $-140M | $-93M | $257M | $-382M | $105M | $-57M | $471M | $-60M | $145M | |
| Net Change in Cash | $-263M | $22M | $92M | $-160M | $-93M | $296M | $784.0K | $-259M | $-86M | $503M | $953.0K | $-15M | |
| Free Cash Flow | · | · | $63M | $125M | $-186M | $78M | $-23M | $23M | $-37M | $21M | $46M | · | |
| Levered FCF | · | · | $-35M | $26M | $-269M | $9M | $-100M | $-54M | $-102M | $-46M | $-18M | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 17.7% | 20.7% | 19.8% | 17.5% | 12.7% | 9.6% | 21.1% | 26.1% | 27.5% | 27.2% | 23.0% | · | |
| Net Margin | 9.5% | 10.5% | 11.4% | 8.7% | -2.1% | · | · | · | · | · | · | · | |
| Pretax Margin | 9.8% | 10.8% | 11.8% | 8.9% | -2.4% | -4.9% | 11.9% | 16.7% | 17.5% | 16.7% | 12.8% | · | |
| EBITDA Margin | 43.0% | 44.7% | 45.5% | 47.3% | 45.0% | 41.0% | 46.0% | 49.1% | 50.0% | 50.1% | 49.1% | · | |
| ROA | 1.6% | 1.8% | · | 1.5% | -0.31% | · | · | · | · | · | · | · | |
| ROE | 7.0% | 8.0% | · | 6.5% | -1.3% | · | · | · | · | · | · | · | |
| ROIC | 12.4% | 14.9% | · | 13.0% | 7.0% | 4.3% | 12.2% | 14.8% | 15.9% | 15.1% | 27.5% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | · | · | 1.4 | 1.3 | 0.8 | 0.7 | 2.0 | 2.4 | 2.9 | 2.6 | 2.2 | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | · | 0.2 | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Share | $2.85 | $2.85 | $2.78 | $2.69 | $2.25 | $2.15 | $2.46 | $2.46 | $2.39 | $2.44 | $2.47 | · | |
| Cash Flow / Share | $0.92 | $0.97 | $0.88 | $0.78 | $0.77 | $0.64 | $0.78 | $0.94 | $0.64 | $0.79 | $0.76 | · | |
| Dividend / Share | $0.14 | $0.14 | $0.14 | $0.14 | $0.10 | $0.21 | $0.42 | $0.42 | $0.42 | $0.40 | $0.34 | $0.34 | |
| EPS (TTM) | $0.25 | $0.28 | $0.30 | $0.22 | $-0.06 | $-0.10 | $0.28 | $0.39 | $0.39 | $0.38 | $0.29 | $0.27 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 0.05% | 3.8% | 1.7% | 16.5% | 2.4% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 1.9% | 7.2% | 6.7% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 4.8% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -10.7% | -6.7% | 36.4% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 4.3% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -9.2% | -4.8% | 33.5% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 4.9% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | -8.6% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $768M | $768M | $740M | $727M | $624M | $609M | $731M | $732M | $710M | $677M | $658M | $635M | |
| Net Income TTM | $73M | $80M | $84M | $63M | $-13M | $-23M | $84M | $66M | $63M | $51M | $34M | $27M | |
| P/E | 26.1 | 36.9 | 32.3 | 30.6 | -148.3 | -93.2 | 49.9 | 36.5 | 52.6 | 53.1 | 62.3 | 65.1 | |
| Earnings Yield | 3.8% | 2.7% | 3.1% | 3.3% | -0.67% | -1.1% | 2.0% | 2.7% | 1.9% | 1.9% | 1.6% | 1.5% | |
| Payout Ratio | 32.5% | 28.9% | 26.9% | 36.6% | -138.9% | · | · | · | · | · | · | · | |
| Annual Payout | $24M | $23M | $23M | $23M | $18M | $37M | $75M | $71M | $67M | $56M | $39M | $34M |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $197M | $190M | $199M | $198M | $191M | $180M | $198M | $200M | $190M | $181M | $193M | $192M | $191M | $165M | $181M | $184M | |
| SG&A Expense | $25M | $18M | $18M | $19M | $19M | $17M | $18M | $18M | $18M | $16M | $16M | $16M | $16M | $16M | $16M | $16M | |
| Operating Expenses | $336M | $161M | $164M | $158M | $156M | $154M | $155M | $154M | $150M | $150M | $152M | $149M | $144M | $147M | $142M | $148M | |
| Operating Income | $-139M | $29M | $35M | $39M | $35M | $26M | $43M | $45M | $39M | $31M | $41M | $42M | $46M | $17M | $39M | $36M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $25M | · | $25M | $25M | $25M | · | $26M | |
| Pretax Income | $-40M | $2M | $33M | $15M | $12M | $15M | $20M | $24M | $29M | $10M | $18M | $21M | $38M | $10M | $23M | $12M | |
| Income Tax | $-767.0K | $-1M | $1M | $2M | $478.0K | $-619.0K | $1M | $1M | $750.0K | $-655.0K | $2M | $1M | $733.0K | $-1M | $1M | $1M | |
| Net Income | $-40M | $3M | $32M | $14M | $11M | $16M | $19M | $23M | $29M | $10M | $16M | $20M | $37M | $12M | $22M | $10M | |
| EPS (Basic) | $-0.15 | $0.01 | $0.11 | $0.05 | $0.04 | $0.06 | $0.08 | $0.08 | $0.10 | $0.03 | $0.05 | $0.07 | $0.14 | $0.04 | $0.08 | $0.03 | |
| EPS (Diluted) | $-0.15 | $0.01 | $0.11 | $0.05 | $0.04 | $0.05 | $0.07 | $0.08 | $0.10 | $0.03 | $0.05 | $0.07 | $0.14 | $0.04 | $0.08 | $0.03 | |
| Shares (Basic) | 171,039,000 | 170,673,000 | · | 169,250,000 | 168,368,000 | 167,181,000 | · | 164,880,000 | 164,277,000 | 163,491,000 | · | 161,851,000 | 160,028,000 | 161,339,000 | · | 162,165,000 | |
| Shares (Diluted) | 268,947,000 | 269,348,000 | · | 270,357,000 | 269,951,000 | 269,529,000 | · | 269,613,000 | 268,716,000 | 267,494,000 | · | 266,073,000 | 264,196,000 | 265,197,000 | · | 267,121,000 | |
| EBITDA | $-139M | $80M | · | $39M | $35M | $75M | · | $45M | $39M | · | · | $42M | $46M | $65M | · | $36M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $86M | $69M | $133M | $154M | $95M | $188M | $385M | $422M | $536M | $334M | $347M | $354M | $315M | $273M | $264M | $387M | |
| Goodwill | $325M | $491M | $491M | $491M | $491M | $491M | $491M | $491M | $491M | $491M | · | $491M | $491M | $491M | · | $491M | |
| Total Assets | $4.27B | $4.41B | $4.47B | $4.11B | $4.08B | $4.11B | $4.51B | $4.44B | $4.43B | $4.19B | $4.22B | $4.22B | $4.18B | $4.16B | $4.16B | $4.20B | |
| Total Liabilities | $2.48B | $2.58B | $2.65B | $2.31B | $2.29B | $2.33B | $2.73B | $2.68B | $2.68B | $2.47B | · | $2.48B | $2.47B | $2.48B | · | $2.53B | |
| Paid-in Capital | $1.10B | $1.10B | $1.09B | $1.09B | $1.09B | $1.08B | $1.08B | $1.07B | $1.07B | $1.07B | · | $1.06B | $1.05B | $1.05B | · | $1.06B | |
| Retained Earnings | $-76M | $-44M | $-40M | $-53M | $-55M | $-56M | $-59M | $-64M | $-72M | $-83M | · | $-87M | $-92M | $-109M | · | $-116M | |
| AOCI | $13M | $9M | $7M | $5M | $6M | $7M | $10M | $6M | $13M | $12M | · | $13M | $9M | $3M | · | $7M | |
| Stockholders' Equity | $1.04B | $1.06B | $1.06B | $1.04B | $1.04B | $1.03B | $1.03B | $1.02B | $1.01B | $996M | · | $987M | $966M | $948M | · | $952M | |
| Liabilities + Equity | $4.27B | $4.41B | $4.47B | $4.11B | $4.08B | $4.11B | $4.51B | $4.44B | $4.43B | $4.19B | · | $4.22B | $4.18B | $4.16B | · | $4.20B |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $50M | $50M | $51M | $48M | $48M | $49M | $45M | $46M | $47M | $46M | $50M | $47M | $46M | $47M | $44M | $47M | |
| Stock-based Comp | $11M | $6M | $7M | $6M | $7M | $5M | $6M | $6M | $6M | $3M | $5M | $5M | $5M | $4M | $5M | $5M | |
| Amort. of Intangibles | $2M | $2M | $2M | $1M | $1M | $1M | $2M | $1M | $1M | $1M | $1M | $1M | · | · | · | · | |
| Other Non-cash | · | $10M | · | · | · | $14M | · | · | · | · | · | · | · | $23M | · | · | |
| Operating Cash Flow | $20M | $69M | $34M | $105M | $27M | $83M | $50M | $103M | $37M | $71M | $36M | $90M | $20M | $86M | $37M | $90M | |
| CapEx | · | · | · | · | · | · | · | $168M | $18M | $48M | · | $56M | $33M | $35M | · | $19M | |
| Investing Cash Flow | $-70M | $-65M | $-362M | $-33M | $-114M | $-42M | $-79M | $-191M | $-56M | $-71M | $-38M | $-52M | $15M | $-3M | $-142M | $-32M | |
| Stock Repurchased | · | · | $6M | $0 | · | · | $0 | $0 | $0 | $0 | $0 | $0 | $7M | $6M | $8M | $18M | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | · | · | · | · | $-6M | · | · | |
| Dividends Paid | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | |
| Financing Cash Flow | $72M | $-65M | $297M | $-12M | $-14M | $-233M | $-12M | $-19M | $211M | $-21M | $-12M | $-13M | $-20M | $-18M | $-21M | $-31M | |
| Net Change in Cash | $22M | $-60M | $-31M | $61M | $-101M | $-192M | $-41M | $-107M | $191M | $-22M | $-14M | $25M | $15M | $66M | $-125M | $27M | |
| Free Cash Flow | · | · | · | · | · | · | · | · | · | · | · | · | · | $52M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | · | · | · | · | $24M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -70.5% | 15.5% | · | 19.9% | 18.4% | 14.3% | · | 22.7% | 20.8% | · | · | 22.1% | 24.2% | 10.6% | · | 19.3% | |
| Net Margin | -20.1% | 1.6% | · | 6.9% | 5.9% | 8.8% | · | 11.4% | 15.1% | · | · | 10.4% | 19.4% | 7.1% | · | 5.5% | |
| Pretax Margin | -20.5% | 1.0% | · | 7.7% | 6.2% | 8.4% | · | 12.1% | 15.5% | · | · | 11.1% | 19.8% | 6.4% | · | 6.3% | |
| EBITDA Margin | -70.5% | 41.9% | · | 19.9% | 18.4% | 41.4% | · | 22.7% | 20.8% | · | · | 22.1% | 24.2% | 39.4% | · | 19.3% | |
| ROA | -0.95% | 0.07% | · | 0.32% | 0.27% | 0.38% | · | 0.53% | 0.66% | · | · | 0.47% | 0.88% | 0.28% | · | 0.24% | |
| ROE | -3.8% | 0.29% | · | 1.3% | 1.1% | 1.6% | · | 2.3% | 2.9% | · | · | 2.1% | 3.8% | 1.2% | · | 1.0% | |
| ROIC | -13.1% | 4.3% | · | 3.4% | 3.2% | 2.6% | · | 4.2% | 3.8% | · | · | 4.0% | 4.7% | 2.1% | · | 3.3% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | · | · | · | · | · | · | · | · | · | · | · | 1.7 | 1.8 | 0.7 | · | 1.4 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | · | · | 0.0 | 0.0 | 0.0 | · | 0.0 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Share | $0.73 | $0.71 | · | $0.73 | $0.71 | $0.67 | · | $0.74 | $0.71 | · | · | $0.72 | $0.72 | $0.62 | · | $0.69 | |
| Cash Flow / Share | · | $0.26 | · | · | · | $0.31 | · | · | · | · | · | · | · | $0.33 | · | · | |
| Dividend / Share | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | · | $0.04 | $0.04 | $0.04 | · | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | |
| Dividend Paid / Share | · | · | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | |
| EPS (TTM) | $0.02 | $0.21 | · | $0.21 | $0.24 | $0.30 | · | $0.26 | $0.25 | $0.28 | · | $0.33 | $0.29 | $0.33 | · | $0.13 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $784M | $779M | · | $767M | $769M | $767M | · | $763M | $755M | $728M | · | $728M | $720M | $728M | · | $706M | |
| Net Income TTM | $9M | $60M | · | $60M | $69M | $86M | · | $77M | $75M | $79M | · | $90M | $80M | $92M | · | $38M | |
| P/E | 270.5 | 24.8 | · | 36.5 | 33.7 | 26.1 | · | 42.6 | 37.5 | 36.2 | · | 24.4 | 25.8 | 19.7 | · | 50.5 | |
| Earnings Yield | 0.37% | 4.0% | · | 2.7% | 3.0% | 3.8% | · | 2.4% | 2.7% | 2.8% | · | 4.1% | 3.9% | 5.1% | · | 2.0% | |
| Payout Ratio | -15.3% | 201.1% | · | 43.6% | 52.0% | 37.3% | · | 25.6% | 20.3% | · | · | 28.6% | 15.2% | 48.5% | · | 56.3% | |
| Annual Payout | $24M | $24M | · | $24M | $23M | $23M | · | $23M | $23M | $23M | · | $23M | $23M | $23M | · | $23M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Revenue | $768M | · | · | $768M | · |
| Operating Margin % | 17.7% | · | · | 20.7% | · |
| Net Income | $73M | · | · | $80M | · |
| Diluted EPS | $0.25 | · | · | $0.28 | · |
No data for this statement
Not enough fundamentals data to build this statement yet.
No data for this statement
Not enough fundamentals data to build this statement yet.
Institutional owners (13F) 238 filers · $895.8M total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
238
Value held
$895.8M
New positions
37
Exited positions
27
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 37 (-10 vs prior Q) | 27 (-1 vs prior Q) | 100 (+27 vs prior Q) | 49 (-14 vs prior Q) | +11.0M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $126,868,651 | 19,458,382 | 14.16% | Shares |
| BlackRock, Inc. | $96,719,481 | 17,877,908 | 10.80% | Shares |
| AMERIPRISE FINANCIAL INC | $78,366,733 | 14,485,533 | 8.75% | Shares |
| LASALLE INVESTMENT MANAGEMENT SECURITIES LLC | $70,900,468 | 13,105,447 | 7.91% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $67,684,634 | 12,511,023 | 7.56% | Shares |
| SOUTHEASTERN ASSET MANAGEMENT INC/TN/ | $47,047,708 | 8,696,434 | 5.25% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $37,361,114 | 6,905,936 | 4.17% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $32,772,877 | 6,057,833 | 3.66% | Shares |
| STATE STREET CORP | $32,496,750 | 6,006,793 | 3.63% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $21,809,861 | 4,030,612 | 2.43% | Shares |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC | $19,369,267 | 3,580,271 | 2.16% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $17,738,687 | 3,278,870 | 1.98% | Shares |
| Legal & General Group Plc | $17,227,099 | 3,184,307 | 1.92% | Shares |
| MARSHALL WACE, LLP | $16,742,826 | 3,094,792 | 1.87% | Shares |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | $12,347,524 | 2,282,352 | 1.38% | Shares |
| GOLDMAN SACHS GROUP INC | $10,585,569 | 1,956,667 | 1.18% | Shares |
| NORTHERN TRUST CORP | $8,683,186 | 1,605,025 | 0.97% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $8,127,401 | 1,502,361 | 0.91% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $7,520,922 | 1,390,189 | 0.84% | Shares |
| MORGAN STANLEY | $7,398,806 | 1,367,615 | 0.83% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $6,637,998 | 1,226,987 | 0.74% | Shares |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $6,358,589 | 1,175,340 | 0.71% | Shares |
| NORDEA INVESTMENT MANAGEMENT AB | $6,095,504 | 1,128,797 | 0.68% | Shares |
| CITADEL ADVISORS LLC | $6,064,183 | 1,120,921 | 0.68% | Shares |
| SummitTX Capital, L.P. | $5,740,172 | 1,061,030 | 0.64% | Shares |
| AXA Investment Managers S.A. | $5,251,229 | 685,539 | 0.59% | Shares |
| FIRST TRUST ADVISORS LP | $5,108,062 | 944,189 | 0.57% | Shares |
| WOLVERINE ASSET MANAGEMENT LLC | $5,069,397 | 937,042 | 0.57% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $5,013,928 | 926,789 | 0.56% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $4,493,297 | 830,554 | 0.50% | Shares |
| Bank of New York Mellon Corp | $4,463,810 | 825,103 | 0.50% | Shares |
| NAN FUNG TRINITY (HK) LTD | $4,335,033 | 801,300 | 0.48% | Shares |
| Robeco Institutional Asset Management B.V. | $4,003,400 | 740,000 | 0.45% | Shares |
| JPMORGAN CHASE & CO | $3,989,777 | 749,958 | 0.45% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $3,897,240 | 720,377 | 0.44% | Shares |
| WATERFALL ASSET MANAGEMENT, LLC | $3,730,384 | 689,535 | 0.42% | Shares |
| CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC | $3,721,214 | 687,840 | 0.42% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $3,387,201 | 626,100 | 0.38% | Shares |
| TWO SIGMA INVESTMENTS, LP | $3,252,930 | 601,281 | 0.36% | Shares |
| FMR LLC | $2,905,700 | 537,098 | 0.32% | Shares |
| ALLIANCEBERNSTEIN L.P. | $2,676,190 | 514,652 | 0.30% | Shares |
| MILLENNIUM MANAGEMENT LLC | $2,553,363 | 471,971 | 0.29% | Shares |
| Nuveen, LLC | $2,410,826 | 445,624 | 0.27% | Shares |
| Invesco Ltd. | $2,348,286 | 434,064 | 0.26% | Shares |
| Jump Financial, LLC | $2,082,850 | 385,000 | 0.23% | Shares |
| Y-Intercept (Hong Kong) Ltd | $1,713,412 | 316,712 | 0.19% | Shares |
| Swiss National Bank | $1,528,325 | 282,500 | 0.17% | Shares |
| HSBC HOLDINGS PLC | $1,517,510 | 280,501 | 0.17% | Shares |
| CITIGROUP INC | $1,420,471 | 262,564 | 0.16% | Shares |
| Leonteq Securities AG | $1,340,630 | 247,806 | 0.15% | Shares |
Company insiders 24 insiders · 9 officers · 15 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Anthony E Malkin | Chairman and CEO | March 13, 2026 A | 9,485 | 0 | 0 | $0 |
| Stephen Horn | EVP and CFO | March 13, 2026 A | · | 0 | 0 | $0 |
| David A Karp | EVP and CFO | March 20, 2019 A | 5,500 | 0 | 0 | $0 |
| Christina Chiu | President | March 13, 2026 A | · | 0 | 0 | $0 |
| John B Kessler | President and COO | March 19, 2020 A | · | 0 | 0 | $0 |
| Donna Jean Sutherland | Chief Accounting Officer | March 13, 2026 A | 17,836 | 0 | 0 | $0 |
| Thomas P. Durels | EVP, Real Estate | March 13, 2026 A | 44,185 | 0 | 0 | $0 |
| Thomas N. Keltner | EVP and General Counsel | March 15, 2022 A | · | 0 | 0 | $0 |
| Andrew Prentice | SVP, CAO and Treasurer | March 16, 2020 A | · | 0 | 0 | $0 |
| George L.W. Malkin | Director | May 15, 2026 A | · | 0 | 0 | $0 |
| Hannah Y Yang | Director | May 15, 2026 A | · | 0 | 0 | $0 |
| Christina Van Tassell | Director | May 15, 2026 A | · | 0 | 0 | $0 |
| Grant Hill | Director | May 15, 2026 A | · | 0 | 0 | $0 |
| Robert Paige Hood | Director | May 15, 2026 A | · | 0 | 0 | $0 |
| Patricia Han | Director | May 15, 2026 A | · | 0 | 0 | $0 |
| Salvatore Michael Giliberto | Director | May 15, 2026 A | 3,500 | 0 | 0 | $0 |
| James D Robinson IV | Director | May 15, 2026 A | · | 0 | 0 | $0 |
| Steven J Gilbert | Director | May 15, 2026 A | 20,000 | 0 | 0 | $0 |
| Thomas J Derosa | Director | May 10, 2024 A | · | 0 | 0 | $0 |
| Leslie D. Biddle | Director | May 13, 2022 A | · | 0 | 0 | $0 |
| William H Berkman | Director | May 15, 2020 A | 25,000 | 0 | 0 | $0 |
| Alice Connell | Director | June 1, 2016 A | 1,205 | 0 | 0 | $0 |
| Lawrence E Golub | Director | June 23, 2014 A | 130,000 | 0 | 0 | $0 |
| Q REIT Holding LLC | 10% owner | Sept. 25, 2017 J | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 33 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| FYT · First Trust Exchange-Traded AlphaDE… | 0.57% | 220,891 NS | July 31, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.30% | 806,225 NS | July 31, 2026 | N-PORT |
| CVAR · ETF Opportunities Trust | 0.23% | 19,699 NS | July 31, 2026 | N-PORT |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.11% | 38,201 NS | July 31, 2026 | N-PORT |
| EBIT · Harbor ETF Trust | 0.10% | 2,310 NS | July 31, 2026 | N-PORT |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.08% | 93,219 NS | July 31, 2026 | N-PORT |
| NUSC · Nushares ETF Trust | 0.05% | 133,622 NS | July 31, 2026 | N-PORT |
| USRT · iShares Trust | 0.05% | 540,882 SH | Sept. 11, 2026 | Daily |
| DFAR · Dimensional ETF Trust | 0.05% | 179,641 NS | July 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.05% | 125,367 SH | Aug. 19, 2026 | Daily |
| ESML · iShares Trust | 0.05% | 320,638 SH | Sept. 11, 2026 | Daily |
| FREL · FIDELITY COVINGTON TRUST | 0.05% | 142,809 NS | July 31, 2026 | N-PORT |
| ERET · iShares Trust | 0.04% | 1,413 SH | Sept. 11, 2026 | Daily |
| VNQ · VANGUARD SPECIALIZED FUNDS | 0.04% | 5,344,646 SH | Aug. 19, 2026 | Daily |
| DFGR · Dimensional ETF Trust | 0.04% | 299,824 NS | July 31, 2026 | N-PORT |
| REET · iShares Trust | 0.03% | 387,056 SH | Sept. 11, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.03% | 212,609 | Oct. 2, 2026 | Daily |
| RSSL · Global X Funds | 0.02% | 68,736 NS | July 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.02% | 3,706,720 SH | Sept. 11, 2026 | Daily |
| VBR · VANGUARD INDEX FUNDS | 0.02% | 1,993,084 SH | Aug. 19, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.02% | 827,144 SH | Aug. 19, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.01% | 8,089 | Oct. 2, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 1,610,984 SH | Aug. 19, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.01% | 3,165,152 SH | Aug. 19, 2026 | Daily |
| TILT · FlexShares Trust | 0.01% | 25,912 NS | July 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 8,522 SH | Sept. 10, 2026 | Daily |
| ITOT · iShares Trust | 0.00% | 200,194 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 39,798 SH | Sept. 10, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 4,307,525 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 13,302 SH | Aug. 19, 2026 | Daily |
| IWN · iShares Trust | · | 1,348,539 SH | Sept. 11, 2026 | Daily |
| ISCB · iShares Trust | · | 6,748 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 31,848 SH | Sept. 11, 2026 | Daily |
ESRT Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 12 analysts
BUY
Median target
$5.00
+19.9%
3 25.0%
Strong Buy
4 33.3%
Buy
4 33.3%
Hold
1 8.3%
Sell
0 0.0%
Strong Sell
12-Month Price Target
5 analysts · 2026-10-01Mean target $5.40 +29.5%
← Below all targets
Current price $4.17
Low$5.00
Mean$5.40
High$7.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ESRT | · | 26.1 | 0.05% | 9.5% | 7.0% | · |
| PDM | $1.04B | -12.4 | -0.93% | -14.8% | -5.4% | · |
| DEA | $981M | 78.5 | 11.3% | 3.9% | 0.98% | · |
| PSTL | · | 34.3 | 25.5% | 14.8% | 5.3% | · |
| HPP | $587M | -0.8 | -1.3% | -71.3% | -20.3% | 48.5% |
| JBGS | · | -8.1 | -8.9% | -27.9% | -11.2% | · |
| BDN | $507M | -2.8 | -4.2% | -36.8% | -19.5% | 61.8% |
| NLOP | $382M | -2.6 | -16.4% | -122.2% | -33.2% | · |
| BXP | $10.70B | 38.8 | 2.2% | 8.0% | 5.2% | 59.1% |
My Metrics Your personal watchlist — selected rows from Full Fundamentals
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Source: SEC 10-Q filed Aug 6, 2026