Added to YB: 2026-10-08
Pitch date: 2026-10-06
ESRT [bullish]
Empire State Realty Trust, Inc.
+7.74%
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
$4.39
Price Target
9.00 (+90%)
Dividend
3.31%
EV/EBITDA
11.00
P/E
234.38
EV/Sales
4.62
Sector
Office REITs
Category
special_situation
An Activist Shows Up at $4.27
ESRT (monitor): Empire State Realty Trust’s stress-case NAV remains $6-$9 per share versus a $4.23 close, but the position sold July 17 has not been repurchased because nothing was forcing value realization. Erez has now bought 5.8% of Class A at $4.27 and discussed capital allocation and a strategic review, creating a potential catalyst; however, voting constraints, the unresolved Observatory issue and no specific proposal mean actual repurchases or a defined realization plan are needed to prompt reconsideration.
Read full article (6 min)