Loading...
•
Mar 31, 2025
Empire State Realty Trust Q1 2025 Earnings Report
Reported operational and financial results for the first quarter 2025
Key Takeaways
Empire State Realty Trust reported net income of $0.05 per share and Core FFO of $0.19 per share for Q1 2025. The company signed 231,000 rentable square feet of leases and maintained strong liquidity with no floating rate debt exposure. The 2025 outlook remains unchanged.
Net Income Per Fully Diluted Share was $0.05.
Core FFO Per Fully Diluted Share was $0.19.
Signed 231,000 Rentable Square Feet of Leases in Q1 2025.
Maintained strong liquidity of $0.8 billion with no floating rate debt exposure.
Revenue by Segment
Forward Guidance
The company's 2025 guidance and key assumptions remain unchanged, projecting Core FFO per fully diluted share between $0.86 and $0.89. Commercial occupancy is expected to be between 89% and 91% at year-end, and Observatory NOI is projected between $97 million and $102 million.
Positive Outlook
- 2025 Core FFO Per Fully Diluted Share guidance of $0.86 to $0.89.
- Expected increase in commercial occupancy and leased percentage by year-end.
- Assumes positive revenue year-over-year growth for Same-Store Property Cash NOI.
- Observatory NOI projected between $97M to $102M.
- Guidance includes approximately $0.05 from multifamily assets.
Challenges Ahead
- Guidance does not include the impact of any significant future lease termination fee income.
- Guidance does not include the impact of any unannounced acquisition, disposition or other capital markets activity.
- Assumes a ~2.0 to 4.0% year-over-year increase in operating expenses and real estate taxes for Same-Store Property Cash NOI.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...