Last $16.47 USD
Change Today +0.03 / 0.18%
Volume 183.5K
ESRT On Other Exchanges
Symbol
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New York
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As of 2:32 PM 09/2/14 All times are local (Market data is delayed by at least 15 minutes).

empire state realty trust-a (ESRT) Snapshot

Open
$16.46
Previous Close
$16.44
Day High
$16.48
Day Low
$16.31
52 Week High
06/5/14 - $17.34
52 Week Low
10/9/13 - $12.65
Market Cap
1.6B
Average Volume 10 Days
386.8K
EPS TTM
--
Shares Outstanding
97.0M
EX-Date
06/11/14
P/E TM
--
Dividend
$0.34
Dividend Yield
1.52%
Current Stock Chart for EMPIRE STATE REALTY TRUST-A (ESRT)

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empire state realty trust-a (ESRT) Details

Empire State Realty Trust, Inc., a real estate investment trust (REIT), focuses on owning, managing, operating, and acquiring office and retail properties in Manhattan and the greater New York metropolitan area. It also intends to provide construction services to tenants and other entities. The company, formerly known as Empire Realty Trust, Inc., is based in New York, New York.

607 Employees
Last Reported Date: 03/24/14

empire state realty trust-a (ESRT) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $1.4M
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $653.8K
Executive Vice President and Director of Leas...
Total Annual Compensation: $603.8K
Executive Vice President, General Counsel and...
Total Annual Compensation: $503.8K
Compensation as of Fiscal Year 2013.

empire state realty trust-a (ESRT) Key Developments

Empire State Realty Trust, Inc. Announces Private Offering of $250 Million Senior Notes

Empire State Realty Trust, Inc. through its operating partnership Empire State Realty OP, L.P., has commenced a private offering of $250 million aggregate principal amount of exchangeable senior notes due 2019. The notes will be senior unsecured obligations of the operating partnership. Prior to May 15, 2019, the notes will be exchangeable at the option of holders of the notes only upon the satisfaction of certain conditions and during certain periods, and, thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. Upon exchange, the notes will be exchangeable into cash, shares of Empire State Realty Trust's Class A common stock or a combination of cash and shares of Empire State Realty Trust's Class A common stock, at the operating partnership's election. The operating partnership expects to grant the initial purchaser a 30-day option to purchase up to an additional $37.5 million aggregate principal amount of the notes.

Empire State Realty Trust, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Empire State Realty Trust, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the second quarter, the company total revenues of $155.168 million, total operating income of $40.645 million, net income attributable to the company of $9.834 million and $0.10 per diluted share. Core FFO was $54.982 million or $0.22 per fully diluted share. Core FFO excludes the impact of acquisition costs, preferred exchange offering costs, and gains, net of income taxes, on the settlement of a lawsuit related to the Observatory. FFO, which includes these items, was $53.837 million or $0.22 per fully diluted share. The company began operations upon the completion of its formation transactions and initial public offering in October 2013 and therefore had no comparative results to report for the second quarter 2013. For the six months, the company total revenues of $295.474 million, total operating income of $66.213 million, net income attributable to the company of $14.203 million and $0.15 per diluted share. Core FFO was $96.265 million, or $0.39 per fully diluted share. Core FFO excludes the impact of acquisition costs, preferred exchange offering costs, and gains, net of income taxes, on the settlement of a lawsuit related to the observatory. FFO, which includes these items, was $95.120 million, or $0.39 per fully diluted share.

Empire State Realty Trust Completes Acquisition of Interests in Two Manhattan Properties

Empire State Realty Trust, Inc. announced that it has completed the acquisition of the ground and operating leases at 112 West 34th Street and the ground lease at 1400 Broadway for a total of approximately $734 million in cash, common stock and operating partnership units. The leaseholds and fee title to a small contiguous property at 112 West 34th Street were acquired for approximately $423.6 million, or approximately $570 per square foot, consisting of $87.7 million by assumption of existing mortgage debt, $106.8 million in cash and $229.1 million in shares of Class A and Class B common stock and Series PR OP units. The leasehold at 1400 Broadway was acquired for $310.0 million, or approximately $346 per square foot, consisting of $80.0 million by assumption of existing mortgage debt, $79.7 million in cash, and $150.3 million in shares of Class A and Class B common stock and Series PR OP units. 112 West 34th Street is a 26-story, 650,769 rentable square foot office tower, with 92,455 square feet of retail space located in the 34th Street/Penn Station submarket. An 89,529 square foot block of retail space located directly across from Macy's location is currently being marketed for occupancy in mid-2016. The property's office and retail space is 77.5% occupied and 83.2% leased, as of June 30, 2014. 1400 Broadway is a 37-story 880,131 rentable square foot office tower with 19,815 square feet of retail space, located in the Times Square South submarket, and the property's office and retail space is 92.6% occupied and 92.7% leased, as of June 30, 2014. Both properties are convenient to Penn Station, Grand Central Terminal, Port Authority Bus Terminal, PATH and 13 subway lines. In addition, both properties have recently received significant capital investment.

 

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Valuation ESRT Industry Range
Price/Earnings 18.6x
Price/Sales 3.1x
Price/Book 4.1x
Price/Cash Flow 11.0x
TEV/Sales NM Not Meaningful
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