Empire State Realty Trust, Inc. ESRT
Empire State Realty Trust, Inc. (NYSE: ESRT) functions as a leading real estate investment trust (REIT), focused on the acquisition, ownership, management, operation, and revitalization of commercial office and retail assets across Manhattan and the broader New York metropolitan region. Its notable properties include the iconic Empire State Building, globally renowned as "The World's Most Famous Building." Based in New York, New York, the company's diverse portfolio encompassed 10.1 million rentable square feet as of September 30, 2020. This total comprised 9.4 million rentable square feet across 14 office properties – specifically, nine situated in Manhattan, three in Fairfield County, Connecticut, and two in Westchester County, New York – in addition to approximately 700,000 rentable square feet in retail spaces. ESRT has consistently demonstrated leadership in energy efficiency retrofits and maintaining superior Indoor Environmental Quality, achieving the distinction of being the first commercial real estate portfolio in the U.S. to obtain the WELL Health-Safety Rating.
Business overview written from the company's own Form 10-K (Item 1), filed 2026-03-02 — refreshed whenever it files a new one. The figures above are current; see its SEC filings. ✓ From the 10-K
Plain-English: the Snapshot is the quick read — what it pays you (yield, dividend), how its cash flow looks (FFO/AFFO, Price/OCF) and how much debt it carries. Switch to Expert in the header to hide these explanations.
Snapshot
Reported FFO / Core FFO / leverage are from the Q1 2026 earnings release (filed 2026-04-29) — 8-K, EX-99.1 ✓ Verified to filing.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
$10,000 invested
Illustrative income only, at today's price and latest declared dividend — it excludes price changes, dividend cuts and taxes. Not a forecast.
Model ESRT yourself — any amount, shares, per-payment & a multi-year DRIP projection →
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $768.27M | $47.60M | $194.76M | $374.08M | $249.05M |
| 2024 | $763.15M | $51.64M | $184.82M | $377.57M | $260.89M |
| 2023 | $739.57M | $53.24M | $189.91M | $378.52M | $232.49M |
| 2022 | $707.01M | $40.64M | $216.89M | $382.86M | $211.17M |
| 2021 | $607.86M | $-6.51M | $201.81M | $281.43M | $212.49M |
| 2020 | $609.23M | $-12.52M | $191.01M | $251.05M | $182.29M |
Dividends
Recent regular dividends per share (special distributions excluded), oldest → newest.
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-06-15 | 2026-06-15 | 2026-06-30 | 2026-05-15 | $0.04 | Quarterly |
| 2026-03-13 | 2026-03-13 | 2026-03-31 | 2026-02-20 | $0.04 | Quarterly |
| 2025-12-15 | 2025-12-15 | 2025-12-31 | 2025-12-05 | $0.04 | Quarterly |
| 2025-09-15 | 2025-09-15 | 2025-09-30 | 2025-08-06 | $0.04 | Quarterly |
| 2025-06-13 | 2025-06-13 | 2025-06-30 | 2025-05-16 | $0.04 | Quarterly |
| 2025-03-14 | 2025-03-14 | 2025-03-31 | 2025-02-28 | $0.04 | Quarterly |
| 2024-12-16 | 2024-12-16 | 2024-12-31 | 2024-12-06 | $0.04 | Quarterly |
| 2024-09-16 | 2024-09-16 | 2024-09-30 | 2024-08-07 | $0.04 | Quarterly |
| 2024-06-14 | 2024-06-14 | 2024-06-28 | 2024-05-10 | $0.04 | Quarterly |
| 2024-03-14 | 2024-03-15 | 2024-03-28 | 2024-03-01 | $0.04 | Quarterly |
| 2023-12-15 | 2023-12-18 | 2023-12-29 | 2023-12-08 | $0.04 | Quarterly |
| 2023-09-14 | 2023-09-15 | 2023-09-29 | 2023-08-08 | $0.04 | Quarterly |
| 2023-06-14 | 2023-06-15 | 2023-06-30 | 2023-05-12 | $0.04 | Quarterly |
| 2023-03-14 | 2023-03-15 | 2023-03-31 | 2023-03-03 | $0.04 | Quarterly |
| 2022-12-16 | 2022-12-19 | 2022-12-30 | 2022-12-09 | $0.04 | Quarterly |
| 2022-09-14 | 2022-09-15 | 2022-09-30 | 2022-08-16 | $0.04 | Quarterly |
| 2022-06-14 | 2022-06-15 | 2022-06-30 | 2022-05-13 | $0.04 | Quarterly |
| 2022-03-14 | 2022-03-15 | 2022-03-31 | 2022-03-04 | $0.04 | Quarterly |
| 2021-12-17 | 2021-12-20 | 2021-12-31 | 2021-12-10 | $0.04 | Quarterly |
| 2021-09-14 | 2021-09-15 | 2021-09-30 | 2021-08-09 | $0.04 | Quarterly |
| 2021-06-14 | 2021-06-15 | 2021-06-30 | 2021-05-17 | $0.04 | Annual |
| 2020-06-18 | 2020-06-19 | 2020-06-30 | 2020-06-09 | $0.10 | Quarterly |
| 2020-03-13 | 2020-03-16 | 2020-03-31 | 2020-02-28 | $0.10 | Quarterly |
| 2019-12-20 | 2019-12-23 | 2019-12-31 | 2019-12-13 | $0.10 | Quarterly |
Coverage (payout of operating cash flow): 15.18%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Recent news — ESRT
Empire State Realty Trust Signs 26,134 Square Foot Space with Instacart at 111 W. 33rd Street
Infinium Wall Systems, Inc. Signs New 30,017 Square Foot Lease with Empire State Realty Trust at 1359 Broadway
United Talent Agency Moves NY Office to Empire State Building in July 2027
LA-based United Talent Agency taking its talents to the Empire State Building
Empire State Building Observation Deck Launches Exclusive Soccer Jersey Ticket Offer for Sports Fans in July
Empire State Building Observation Deck Run-Up Returns for 48th Annual Race on Oct. 6
Empire State Realty Trust Announces Dates for Second Quarter 2026 Earnings Release and Conference Call
Empire State Realty Trust Announces Release of Schedule K-3
Headlines via Financial Modeling Prep; links open the original publisher in a new tab. Not an endorsement or investment advice.
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Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.