Empire State Realty Trust Announces Third Quarter 2026 Results
ESRT reported Q3 2026 diluted EPS of $0.02 (vs $0.05 a year ago) and Core FFO of $0.20 per share (vs $0.23) on total revenues of $193.1 million, down from $197.7 million. Operations were mixed: same-store cash NOI rose 0.5%, office leasing spreads were positive for a 21st straight quarter (+9.9%), and the portfolio reached 95.6% leased, but Observation Deck NOI fell to $15.6 million from $26.5 million on weak visitation. The company raised its 2026 Core FFO guidance to $0.77-$0.80 from $0.75-$0.79, sold 1359 Broadway for $217.5 million, repurchased $85.8 million of stock at a $4.56 weighted average price, and will direct proceeds to debt paydown.
Key figures
- Eps
- 0.02
- Revenue
- 193053000
- Guidance
- 2026 Core FFO per share raised to $0.77-$0.80 from prior $0.75-$0.79
- Revenue Yoy
- -2.4%
- Total debt
- $2.2 billion
- Observatory noi
- 15604000
- Total liquidity
- $0.6 billion
- Share repurchases
- 85800000
- Core ffo per share
- 0.2
- Net debt to ebitda
- 6.7x
- Commercial leased pct
- 95.6%
- Commercial occupied pct
- 92.3%
- Observatory noi prior year
- 26527000
- Same store cash noi growth
- 0.5%
- Core ffo per share prior year
- 0.23
- Repurchase weighted avg price
- 4.56
- Blended office leasing spreads
- +9.9%
- Goodwill impairment nine months
- 166113000
AI analysis
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