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Empire State Realty ( (ESRT) ) has shared an announcement.
Empire State Realty Trust announced its financial results for the fourth quarter and full year of 2024, reporting a net income of $0.07 per share for the fourth quarter and $0.28 for the full year. The company’s core funds from operations (FFO) per share were $0.24 in the fourth quarter and $0.95 for the year. Leasing activity was strong, with 1.325 million rentable square feet of leases signed in 2024, contributing to a 160 basis points increase in the Manhattan office leased rate to 94.2% by year-end. The Empire State Building Observatory experienced a 6.0% increase in net operating income (NOI) in the fourth quarter and a 5.8% increase for the full year. The company maintained $0.9 billion of liquidity with no floating rate debt exposure as of December 31, 2024.
More about Empire State Realty
Empire State Realty Trust, Inc. (NYSE: ESRT) is a New York City-focused real estate investment trust (REIT) that owns and operates a portfolio of well-leased, modernized office, retail, and multifamily assets. The company is known for its flagship property, the Empire State Building, which features an iconic Observatory recognized as the top attraction globally and in the U.S. by Tripadvisor for three consecutive years. ESRT is also a leader in energy efficiency and indoor environmental quality.
YTD Price Performance: -11.11%
Average Trading Volume: 1,101,029
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $1.51B
For a thorough assessment of ESRT stock, go to TipRanks’ Stock Analysis page.
