Added to YB: 2026-03-02
Pitch date: 2026-02-27
ESRT [bullish]
Empire State Realty Trust, Inc.
-15.97%
current return
Author Info
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Company Info
Empire State Realty Trust, Inc. is a NYC-focused REIT that owns and operates a portfolio of well-leased, top of tier, modernized, amenitized, and well-located office, retail, and multifamily assets.
Market Cap
$732.4M
Pitch Price
$5.63
Price Target
9.62 (+103%)
Dividend
3.31%
EV/EBITDA
11.00
P/E
234.38
EV/Sales
4.62
Sector
Office REITs
Category
value
Empire State Realty Trust, Inc. - $ESRT
ESRT: NYC-focused REIT w/ Empire State Building. Office 93.5% leased, retail 95.3%, 6.7yr avg lease term. $402M NOI vs $3.3B EV = 12.3% implied cap rate. Solid balance sheet: 74% unsecured debt, 96% fixed at 4.46%, 3.0x fixed charge coverage, no major maturities until 2027. Mgmt hints at potential sale. NAV $9.62/share vs $6.05 price = 37% discount to private market value.
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