Empire State Realty Trust, Inc. Class A (ESRT)

Over the past six months, ESRT's stock has experienced fluctuations, decreasing by 33.02% over the past 12 months as of January 12, 2026. By February 6, 2026, the stock's price had decreased by 30.21% over the last 12 months, with a 52-week trading range between $6.09 and $9.67. ESRT shares saw a 3.22% increase following the company's announcement of the 2025 tax treatment for its Class A common stock distributions. The company repurchased $2.1 million of common stock at a weighted average price of $6.92 per share and paid a quarterly dividend of $0.035 per share on June 30, 2025. ESRT announced the issuance of $175 million in senior unsecured notes through a private placement, with a rate of 5.47% and maturity in 2031. Analyst ratings during this period included Wells Fargo & Company decreasing its price objective from $8.30 to $6.80 and setting an "underweight" rating on November 25, 2025, while Weiss Ratings reiterated a "hold (c-)" rating on December 29, 2025. Principal Financial Group Inc. increased its stake in ESRT by 59.6% in the third quarter of 2025. The company's fourth-quarter 2025 earnings release is scheduled for February 18, 2026.

While Empire State Realty Trust has reported sustained tenant demand for its office and retail spaces, its Observatory operations are influenced by global travel patterns. A downturn in tourism has been noted as a factor impacting earnings forecasts for NYC-focused REITs, suggesting some seasonality or external sensitivity in demand for certain services.

Empire State Realty Trust, Inc. (ESRT) is a self-managed REIT that owns and operates a portfolio of office, retail, and multifamily properties, primarily in Manhattan and the greater New York metropolitan area, with its flagship asset being the Empire State Building. ESRT operates within the diversified REITs sector, leasing office space, retail space, and multifamily residential units, as well as operating the Empire State Building Observatory.

Empire State Realty Trust's geographic footprint is concentrated in New York City, specifically Manhattan and the broader New York metropolitan area. Its office portfolio includes eleven properties, with nine of these located in midtown Manhattan, encompassing approximately 7.6 million rentable square feet, notably featuring the Empire State Building.

Empire State Realty Trust has maintained a strong brand reputation, particularly through its flagship property. The Empire State Building Observatory was recognized as the #1 Top Attraction in New York City for the fourth consecutive year in Tripadvisor's 2025 Travelers' Choice Awards. ESRT is also recognized as a leader in energy efficiency and indoor environmental quality, ranking first among all Listed Companies in the Americas by GRESB for the second consecutive year in 2024. The company has achieved carbon neutrality for its commercial portfolio.

Empire State Realty Trust is predominantly owned by institutional shareholders, who hold 79.40% of the company, with 35.77% held by ESRT insiders and 0.00% by retail investors. Major institutional owners include Vanguard Group Inc, BlackRock Inc, Ameriprise Financial Inc, Resolution Capital Ltd, State Street Corp, Principal Financial Group Inc, T Rowe Price Investment Management Inc, and Geode Capital Management LLC. Significant individual and insider owners include Quark Holding LLC, which holds 17.57% of the company's shares, and Investment Authority Qatar, with a 17.40% stake.