How does ES9's PE Ratio compare to its peers?

ES9 is expensive based on its Price-To-Earnings Ratio (40.8x) compared to the peer average (25.1x).

How does ES9's PE Ratio compare vs other companies in the European REITs Industry?

ES9 is expensive based on its Price-To-Earnings Ratio (40.8x) compared to the European REITs industry average (22.7x).

What is ES9's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

Insufficient data to calculate ES9's Price-To-Earnings Fair Ratio for valuation analysis.

What is the Fair Price of ES9 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

ES9 (€10.3) is trading below our estimate of [[fair value]] (€14.66)

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Target price is less than 20% higher than the current share price.

Empire State Realty Trust (DB:ES9) - Stock Price, News & Analysis

ES9 Stock Overview

Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. More details

ES9 fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	0/6
Past Performance	2/6
Financial Health	1/6
Dividends	2/6

Rewards

Trading at 29.8% below our estimate of its fair value

Risk Analysis

Interest payments are not well covered by earnings

Earnings are forecast to decline by an average of 23.6% per year for the next 3 years

Empire State Realty Trust, Inc. Competitors

Empire State Realty OP

ARCA:ESBA

US$3.0b

United Urban Investment

TSE:8960

JP¥432.9b

Broadstone Net Lease

NYSE:BNL

US$3.4b

KLCC Property Holdings Berhad

KLSE:KLCC

RM 14.4b

Price History & Performance

Summary of all time highs, changes and price drops for Empire State Realty Trust
Historical stock prices
Current Share Price	US$10.30
52 Week High	US$10.40
52 Week Low	US$7.55
Beta	1.42
11 Month Change	5.10%
3 Month Change	9.57%
1 Year Change	36.42%
33 Year Change	29.56%
5 Year Change	-17.60%
Change since IPO	4.43%

Recent updates

Shareholder Returns

	ES9	DE REITs	DE Market
7D	4.6%	2.0%	1.1%
1Y	36.4%	3.0%	7.2%

Return vs Industry: ES9 exceeded the German REITs industry which returned 3.1% over the past year.

Return vs Market: ES9 exceeded the German Market which returned 8.6% over the past year.

Price Volatility

Is ES9's price volatile compared to industry and market?
ES9 volatility
ES9 Average Weekly Movement	5.6%
REITs Industry Average Movement	2.5%
Market Average Movement	4.8%
10% most volatile stocks in DE Market	10.9%
10% least volatile stocks in DE Market	2.4%

Stable Share Price: ES9 has not had significant price volatility in the past 3 months compared to the German market.

Volatility Over Time: ES9's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2011	666	Tony Malkin	www.esrtreit.com

Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. The company is the recognized leader in energy efficiency and indoor environmental quality. ESRT's flagship Empire State Building - the "World's Most Famous Building" - includes its Observatory, Tripadvisor's 2023 Travelers' Choice Awards: Best of the Best the #1 attraction in the US for two consecutive years.

Empire State Realty Trust, Inc. Fundamentals Summary

How do Empire State Realty Trust's earnings and revenue compare to its market cap?
ES9 fundamental statistics
Market cap	€2.92b
Earnings (TTM)	€42.89m
Revenue (TTM)	€717.86m

40.8x

P/E Ratio

2.4x

P/S Ratio

Is ES9 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
ES9 income statement (TTM)
Revenue	US$758.43m
Cost of Revenue	US$349.10m
Gross Profit	US$409.33m
Other Expenses	US$364.02m
Earnings	US$45.32m

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	0.27
Gross Margin	53.97%
Net Profit Margin	5.98%
Debt/Equity Ratio	139.9%

How did ES9 perform over the long term?

See historical performance and comparison

Dividends

1.3%

Current Dividend Yield

11%

Payout Ratio

ES9 Stock Overview

Rewards

Risk Analysis

Empire State Realty Trust, Inc. Competitors

ARCA:ESBA

US$3.0b

TSE:8960

JP¥432.9b

NYSE:BNL

US$3.4b

KLSE:KLCC

RM 14.4b

Price History & Performance

Recent News & Updates

Third quarter 2024 earnings released: FFO per share: US$0.4 (vs US$0.40 in 3Q 2023)

Empire State Realty Trust, Inc. to Report Q3, 2024 Results on Oct 21, 2024

Empire State Realty Trust Receives Expected Notice from NYSE Related to Delayed Filing of Quarterly Report on Form 10-Q

Empire State Realty Trust, Inc. announced delayed 10-Q filing

Second quarter dividend of US$0.035 announced

Empire State Realty Trust, Inc. Announces Dividend for Third Quarter 2024, Payable in Cash on September 30, 2024

Recent updates

Third quarter 2024 earnings released: FFO per share: US$0.4 (vs US$0.40 in 3Q 2023)

Empire State Realty Trust, Inc. to Report Q3, 2024 Results on Oct 21, 2024

Empire State Realty Trust Receives Expected Notice from NYSE Related to Delayed Filing of Quarterly Report on Form 10-Q

Empire State Realty Trust, Inc. announced delayed 10-Q filing

Second quarter dividend of US$0.035 announced

Empire State Realty Trust, Inc. Announces Dividend for Third Quarter 2024, Payable in Cash on September 30, 2024

Second quarter 2024 earnings released: FFO per share: US$0.4 (vs US$0.42 in 2Q 2023)

Empire State Realty Trust, Inc. to Report Q2, 2024 Results on Jul 24, 2024

Upcoming dividend of US$0.035 per share

First quarter dividend of US$0.035 announced

Empire State Realty Trust, Inc. Announces Dividend for Second Quarter 2024, Payable in Cash on June 28, 2024

First quarter 2024 earnings released: EPS: US$0.035 (vs US$0.04 in 1Q 2023)

Empire State Realty Trust, Inc. (NYSE:ESRT) acquired remaining stake in Multifamily asset in Manhattan from Fetner Properties, Inc.

Empire State Realty Trust, Inc., Annual General Meeting, May 09, 2024

Empire State Realty Trust, Inc. to Report Q1, 2024 Results on Apr 24, 2024

Fourth quarter dividend of US$0.035 announced

Empire State Realty Trust, Inc. Announces Chief Financial Officer Changes

Empire State Realty Trust, Inc. to Report Q4, 2023 Results on Feb 20, 2024

Empire State Realty Trust, Inc. (NYSE:ESRT) announces an Equity Buyback for $500 million worth of its shares.

Empire State Realty Trust, Inc. Declares Dividend for the Fourth Quarter of 2023, Payable on December 29, 2023

Third quarter 2023 earnings released: EPS: US$0.073 (vs US$0.034 in 3Q 2022)

Empire State Realty Trust, Inc. to Report Q3, 2023 Results on Oct 25, 2023

Upcoming dividend of US$0.035 per share at 1.6% yield

New major risk - Share price stability

Empire State Realty Trust, Inc. Declares Dividend for the Third Quarter of 2023, Payable on September 29, 2023

Second quarter 2023 earnings released: EPS: US$0.14 (vs US$0.18 in 2Q 2022)

Empire State Realty Trust, Inc. Announces Board Appointments

Empire State Realty Trust, Inc. to Report Q2, 2023 Results on Jul 26, 2023

Investor sentiment improves as stock rises 16%

Upcoming dividend of US$0.035 per share at 2.1% yield

Empire State Realty Trust, Inc. Declares Dividend for the Second Quarter of 2023, Payable on June 30, 2023

First quarter 2023 earnings released: FFO per share: US$0.3 (vs US$0.28 in 1Q 2022)

Investor sentiment deteriorates as stock falls 18%

Full year 2022 earnings released: FFO per share: US$1.4 (vs US$1.08 in FY 2021)

Insufficient new directors

Empire State Realty Trust, Inc. to Report Q4, 2022 Results on Feb 15, 2023

Leslie D. Biddle to Step Down as Director of Empire State Realty Trust, Inc, Effective January 16, 2023

Empire State Realty Trust, Inc. (NYSE:ESRT) acquired Free-Market, Rental Apartment Asset Located at 298 Mulberry Street, US from Broad Street Development, LLC and Crow Holdings Capital Partners, L.L.C. for $115 million.

Empire State Realty Trust, Inc. (NYSE:ESRT) acquired Free-Market, Rental Apartment Asset Located at 298 Mulberry Street, US for $120 million.

Empire State Realty Trust, Inc. Appoints Christina Chiu as Chief Operating Officer

Empire State Realty Trust, Inc. Declares Dividend for the Fourth Quarter of 2022, Payable on December 30, 2022

Third quarter 2022 earnings released: EPS: US$0.034 (vs US$0.04 loss in 3Q 2021)

Empire State Realty Trust, Inc. to Report Q3, 2022 Results on Oct 26, 2022

Upcoming dividend of US$0.035 per share

Empire State Realty Trust, Inc. Declares Dividend the Third Quarter of 2022, Payable on September 30, 2022

Second quarter 2022 earnings released: EPS: US$0.17 (vs US$0.012 in 2Q 2021)

Empire State Realty Trust, Inc. to Report Q2, 2022 Results on Jul 27, 2022

Upcoming dividend of US$0.035 per share

First quarter 2022 earnings released: FFO: US$162.9m per share (vs US$0.23 in 1Q 2021)

Empire State Realty Trust, Inc. to Report Q1, 2022 Results on Apr 27, 2022

Empire State Realty Trust, Inc. Declares Dividend the First Quarter of 2022, Payable on March 31, 2022

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Empire State Realty Trust, Inc. Reports Impairment Charge for the Fourth Quarter Ended December 31, 2021

Third quarter 2021 earnings released: FFO US$0.31 per share (vs US$0.17 in 3Q 2020)

Upcoming dividend of US$0.035 per share

Second quarter 2021 earnings released: EPS US$0.018 (vs US$0.073 loss in 2Q 2020)

Empire State Realty Trust, Inc.(NYSE:ESRT) dropped from Russell Midcap Value Index

Upcoming dividend of US$0.035 per share

Empire State Realty Trust, Inc. Announces Dividend for the Second Quarter of 2021, Payable on June 30, 2021