The portfolio comprises approximately 8.6 million rentable square feet of office space, 0.7 million rentable square feet of retail space and 727 residential units. Empire State Realty OP, L.P. is the entity through which Empire State Realty Trust, Inc. conducts all of its business. The company is a recognized leader in energy efficiency and indoor environmental quality.
Cyborg Score Rationale
Net income fell to $2.995 million in Q1 2026 from $15.778 million a year earlier, as prior-year results included a gain on disposition of property and higher interest income. Revenue growth remains modest at 0.61% year-over-year for 2025, and the stock has underperformed significantly over multiple timeframes.
Top Insights
(Q1 2026) Quarterly net income declined 81% as one-time gains and interest income fell year-over-year, though total revenues increased 5.7% to $190.3 million
(Q1 2026) Company invested $46.5 million in Williamsburg retail acquisition while maintaining $4.4 billion in total assets
(2025) Full-year revenue of $767.81 million represents minimal 0.61% growth compared to prior year, signaling market headwinds
Stock has declined 39.43% over 12 months and 35.13% year-to-date through early 2026, reflecting sector-wide office REIT challenges
Named Competitors
SL Green Properties — Manhattan office REIT with large institutional portfolio
Paramount Group — New York City office and multifamily REIT
Vornado Realty Trust — Diversified real estate portfolio including Manhattan office
Recent Developments
(Q1 2026) Total revenues rose to $190.325 million driven by $11.563 million increase in rental revenue and $1.356 million of lease termination fees
(Q1 2026) Net operating income increased to $97.492 million; basic earnings per unit fell to $0.01 from $0.06 year-over-year
(Q4 2025) Board declared dividend of $0.035 per share for holders of Class A and B common stock and operating partnership units
(July 2024) Acquired Prime retail portfolio in Williamsburg, Brooklyn for approximately $100 million
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