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Empire State Realty Op(NYSEMKT) ESBA

Market Cap$763.52MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.
Since IPO (2013)-58%
5 Year-53%
1 Year-39%
1 Month-8%
$4.41
-5.16%
-0.24Today
Empire State Realty Op last closing stock price
MetricPriceDate
Last closeUSD 4.412026-08-31
Empire State Realty Op stock price return by period
PeriodPrice returnPrice at period startPeriod start date
1 week-3.08%USD 4.552026-08-24
1 month-8.14%USD 4.802026-07-31
3 month-20.29%USD 5.532026-06-02
Year to date-29.03%USD 6.212025-12-31
1 year-38.96%USD 7.222025-08-29
3 year-43.66%USD 7.832023-08-31
5 year-53.42%USD 9.472021-09-01
Since inception-57.64%USD 10.412013-10-02

Empire State Realty Op Financials at a Glance

Market Cap

$763.52MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Revenue (TTM)

$784.18M

Net Income (TTM)

-$6.80M

EPS (TTM)

$0.02

P/E Ratio

245.00

Dividend

$0.14

Beta (Volatility)

0.58 (Low)

Price

$4.41

Volume

1,060.214

Open

$4.41

Previous Close

$4.41

Daily Range

$4.38 - $4.43

52-Week Range

$4.37 - $8.30

Estimated Earnings Date

Jul 29, 2026

ESBA News

No articles available.

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About Empire State Realty Op

Empire State Realty helps businesses find office space and retail locations in New York City. It also runs the Empire State Building Observatory, a popular tourist spot. The company provides residential apartments for city dwellers seeking rental homes.

What’s in the Empire State Realty Toolbox?

Office Properties: Leases office space, mainly in Midtown Manhattan, to businesses needing workspace.

Retail Properties: Rents retail space in Manhattan and Brooklyn to shops and restaurants.

Multifamily Units: Offers 743 residential apartments for renters in New York City.

Observatory

Third-Party Management: Manages properties for affiliated companies, earning management fees.

Growth Moves: The Empire State Realty Playbook

Acquired retail properties on North 6th Street, Williamsburg, Brooklyn, for $195 million in late 2024 and $31 million in June 2025.

Bought out a 10% non-controlling interest in two Manhattan multifamily properties for $14.2 million in March 2024.

Signed 232,108 square feet of new, renewal, and expansion leases in Q2 2025.

Expanded retail portfolio and diversified income streams through recent acquisitions and leasing activity.

Why Empire State Realty Stands Out (Without the Hype)

The company owns the Empire State Building, a globally recognized property. It focuses on energy efficiency and environmental compliance, meeting New York City’s strict emissions rules. Its income comes from a mix of office, retail, residential, and tourism segments, reducing reliance on any single source.

Five Things You Need to Know

Revenue was $198 million in Q3 2025, down 0.9% from Q3 2024.

Operating income was $39 million in Q3 2025, down 13.3% year-over-year.

Net income was $17 million in Q3 2025, up 16.1% from Q3 2024.

Cash and cash equivalents were $94.6 million as of June 30, 2025.

Market capitalization was $1.89 billion as of Q3 2025.

Bottom Line

Empire State Realty has diversified its business across office, retail, residential, and tourism. Its focus on New York City and steady expansion supports a stable, multi-segment revenue base.

AI Generated • Apr 16, 2026

Industry

Equity Real Estate Investment Trusts (REITs)

Sector

Real Estate

Employees

642

CEO

Anthony E. Malkin

Website

www.empirestatebrokerage.com

Headquarters

New York City, NY 10120, US

ESBA Financials

Key Financial Metrics (TTM)

Gross Margin

-24.00%

Operating Margin

16.78%

Net Income Margin

-0.87%

Return on Equity

-0.48%

Return on Capital

3.18%

Return on Assets

-0.16%

Earnings Yield

0.41%

Dividend Yield

3.17%

Payout Ratio

-7.51%

Stock Overview

Market Cap

$763.52MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Shares Outstanding

173.13M

Volume

1.06K

Avg. Volume

5.52K

Financials (TTM)

Gross Profit

-$188.18M

Operating Income

$131.60M

EBITDA

$331.77M

Operating Cash Flow

$227.64M

Capital Expenditure

-$32.53M

Free Cash Flow

$213.30M

Cash & ST Invst.

$85.61M

Total Debt

$2.26B

Empire State Realty Op Performance Analysis

Empire State Realty Op annual revenue and year-over-year revenue growth by fiscal year
Fiscal yearPeriod endRevenueYoY growth
20222022-12-31USD 727,041,00016.5%
20232023-12-31USD 739,572,0001.7%
20242024-12-31USD 767,923,0003.8%
20252025-12-31USD 768,270,0000.0%
Empire State Realty Op sequential (quarter-over-quarter) revenue growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q32025-09-303.4%
Q42025-12-310.8%
Q12026-03-31-4.5%
Q22026-06-303.5%
Empire State Realty Op annual diluted earnings per share and year-over-year EPS growth by fiscal year
Fiscal yearPeriod endDiluted EPSYoY growth
20222022-12-31USD 0.22N/A
20232023-12-31USD 0.3037.4%
20242024-12-31USD 0.28-6.2%
20252025-12-31USD 0.25-10.0%
Empire State Realty Op sequential (quarter-over-quarter) diluted earnings per share growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q32025-09-3021.7%
Q42025-12-31157.5%
Q12026-03-31-96.2%
Q22026-06-30-3360.9%

Revenue Growth Rate

Annual and quarterly growth comparison

Earnings Per Share Growth Rate

Annual and quarterly EPS growth comparison

Quarterly Performance

Name
Q2 2026YOY CHG

Revenue

$196.90M

+3.0%

Gross Profit

$2.13M

-98.7%

Gross Margin

1.08%

N/A

Market Cap

$763.52MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

N/A

Market Cap/Employee

$1.19M

N/A

Employees

642

N/A

Net Income

-$39.55M

-447.4%

EBITDA

$37.87M

-55.9%

Quarterly Fundamentals

Name
Q2 2026YOY CHG

Total Cash

$85.61M

-9.5%

Total Debt

$2.26B

+7.7%

Accounts Receivable

$278.34M

-1.8%

Inventory

$0.00

N/A

Long Term Debt

$2.26B

+23.4%

Short Term Debt

$2.07M

-99.2%

Return on Assets

-0.16%

N/A

Return on Invested Capital

3.12%

N/A

Free Cash Flow

$37.73M

+41.2%

Operating Cash Flow

$19.54M

-26.9%

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Questions About ESBA

What is the current price of Empire State Realty Op?

Empire State Realty Op is trading at $4.41 per share.

What is the 52-week range for Empire State Realty Op?

Over the past 52 weeks, Empire State Realty Op has traded between $4.37 and $8.30.

How much debt does Empire State Realty Op have?

As of the most recent reporting period, Empire State Realty Op reported total debt of $2.26B.

How much cash does Empire State Realty Op have on hand?

Empire State Realty Op reported $128.22M in cash and cash equivalents in its most recent financial results.

What is Empire State Realty Op’s dividend yield?

Empire State Realty Op currently has a dividend yield of 3.17%.

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