Empire State Realty Trust Future Growth

Future criteria checks 0/6

Empire State Realty Trust's earnings are forecast to decline at 23.6% per annum while its annual revenue is expected to grow at 0.8% per year. EPS is expected to decline by 34.8% per annum. Return on equity is forecast to be 1.5% in 3 years.

Key information

-23.6%

Earnings growth rate

-34.8%

EPS growth rate

REITs earnings growth	-3.5%
Revenue growth rate	0.8%
Future return on equity	1.5%
Analyst coverage	Low
Last updated	16 Dec 2024

Recent future growth updates

Recent updates

Empire State Realty Trust Is A Way To Go Long New York City

Dec 15

Empire State Realty Trust: Expensive Valuation, Wait For A Better Entry Point

Sep 10

Shareholders May Not Be So Generous With Empire State Realty Trust, Inc.'s (NYSE:ESRT) CEO Compensation And Here's Why

May 03

Empire State Realty Trust: A Bet On The Mean Reversion

Mar 05

Empire State Realty: Occupancy Gains, 2024 Fed Pivot, And Possible Dividend Hike

Dec 15

Analysts Just Made A Sizeable Upgrade To Their Empire State Realty Trust, Inc. (NYSE:ESRT) Forecasts

Apr 30

Empire State Realty Trust FFO of $0.22 beats by $0.04, revenue of $181.27M beats by $43.5M

Feb 15

Empire State Realty: Better To Observe From The Sidelines

Jan 11

Empire State Realty Trust declares $0.035 dividend

Dec 09

Empire State Realty Trust FFO of $0.21 beats by $0.02, revenue of $183.71M beats by $34.65M

Oct 26

Empire State Realty Trust: Mispriced In Relation To Visitation Trends

Sep 26

Empire State Realty Trust declares $0.035 dividend

Aug 16

Rainbows and Unicorns: Empire State Realty Trust, Inc. (NYSE:ESRT) Analysts Just Became A Lot More Optimistic

Aug 03

Empire State Realty Trust FFO of $0.29 beats by $0.10, revenue of $198.02M beats by $42.95M

Jul 27

Empire State Realty Trust upgraded to Market Perform at BMO on tourist rebound

Jul 14

Empire State Realty: Adverse Circumstances For Office And Retail Focused REIT

Jun 29

Broker Revenue Forecasts For Empire State Realty Trust, Inc. (NYSE:ESRT) Are Surging Higher

May 06

Empire State Realty Trust, Inc. (NYSE:ESRT) Analysts Just Trimmed Their Revenue Forecasts By 10%

Feb 20

Earnings and Revenue Growth Forecasts

NYSE:ESRT - Analysts future estimates and past financials data (USD Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	772	16	N/A	N/A	2
12/31/2025	768	20	N/A	N/A	3
12/31/2024	756	18	N/A	N/A	3
9/30/2024	758	45	247	247	N/A
6/30/2024	755	43	235	235	N/A
3/31/2024	756	48	217	217	N/A
12/31/2023	740	49	232	232	N/A
9/30/2023	728	52	233	233	N/A
6/30/2023	720	46	233	233	N/A
3/31/2023	709	54	230	230	N/A
12/31/2022	707	36	211	211	N/A
9/30/2022	686	21	219	219	N/A
6/30/2022	656	8	212	212	N/A
3/31/2022	627	-19	207	207	N/A
12/31/2021	608	-11	212	212	N/A
9/30/2021	591	-8	186	186	N/A
6/30/2021	584	-9	192	192	N/A
3/31/2021	574	-24	191	191	N/A
12/31/2020	600	-17	182	182	N/A
9/30/2020	650	0	198	198	N/A
6/30/2020	694	24	218	218	N/A
3/31/2020	730	48	219	219	N/A
12/31/2019	727	49	233	233	N/A
9/30/2019	714	55	290	290	N/A
6/30/2019	709	56	259	259	N/A
3/31/2019	711	61	288	288	N/A
12/31/2018	708	66	279	279	N/A
9/30/2018	705	60	207	207	N/A
6/30/2018	705	62	N/A	212	N/A
3/31/2018	702	62	N/A	202	N/A
12/31/2017	696	63	N/A	194	N/A
9/30/2017	688	62	N/A	231	N/A
6/30/2017	679	59	N/A	219	N/A
3/31/2017	670	54	N/A	220	N/A
12/31/2016	670	51	N/A	215	N/A
9/30/2016	664	43	N/A	206	N/A
6/30/2016	661	38	N/A	218	N/A
3/31/2016	660	38	N/A	215	N/A
12/31/2015	656	34	N/A	203	N/A
9/30/2015	660	30	N/A	197	N/A
6/30/2015	657	27	N/A	170	N/A
3/31/2015	647	25	N/A	162	N/A
12/31/2014	635	27	N/A	139	N/A
9/30/2014	613	90	N/A	-19	N/A
6/30/2014	512	84	N/A	-57	N/A
3/31/2014	423	78	N/A	-78	N/A
12/31/2013	349	75	N/A	-59	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: ESRT's earnings are forecast to decline over the next 3 years (-23.6% per year).

Earnings vs Market: ESRT's earnings are forecast to decline over the next 3 years (-23.6% per year).

High Growth Earnings: ESRT's earnings are forecast to decline over the next 3 years.

Revenue vs Market: ESRT's revenue (0.8% per year) is forecast to grow slower than the US market (9.1% per year).

High Growth Revenue: ESRT's revenue (0.8% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: ESRT's Return on Equity is forecast to be low in 3 years time (1.5%).

Discover growth companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/18 22:48
End of Day Share Price	2024/12/18 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Empire State Realty Trust, Inc. is covered by 17 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
John Kim	BMO Capital Markets Equity Research
Jing Xian Tan Bonnel	BofA Global Research
Michael Gorman	BTIG

Empire State Realty Trust Future Growth

Future criteria checks 0/6

Key information

Recent future growth updates

Price target increased by 7.6% to US$11.32

Consensus EPS estimates fall by 14%, revenue upgraded

Consensus EPS estimates increase by 10%

Consensus EPS estimates increase by 13%

Consensus EPS estimates increase by 14%

Price target increased by 7.4% to US$8.46

Recent updates

Empire State Realty Trust Is A Way To Go Long New York City

Third quarter dividend of US$0.035 announced

Empire State Realty Trust, Inc. Declares Dividend on Class A Common Stock and Class B Common Stock for the Fourth Quarter of 2024, Payable on December 31, 2024

Price target increased by 7.6% to US$11.32

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: Expensive Valuation, Wait For A Better Entry Point

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

Consensus EPS estimates fall by 14%, revenue upgraded

Second quarter 2024 earnings: EPS exceeds analyst expectations

Now 22% undervalued

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

Shareholders May Not Be So Generous With Empire State Realty Trust, Inc.'s (NYSE:ESRT) CEO Compensation And Here's Why

First quarter 2024 earnings: EPS and revenues exceed analyst expectations

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

Upcoming dividend of US$0.035 per share

Fourth quarter dividend of US$0.035 announced

Empire State Realty Trust: A Bet On The Mean Reversion

Consensus EPS estimates increase by 10%

Full year 2023 earnings: EPS and revenues exceed analyst expectations

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

Empire State Realty Trust, Inc. Announces Executive 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: Occupancy Gains, 2024 Fed Pivot, And Possible Dividend Hike

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

Consensus EPS estimates increase by 13%

Third quarter 2023 earnings: EPS and revenues exceed analyst expectations

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

Empire State Realty: Fairly Valued Following YTD Outperformance

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

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

Consensus EPS estimates increase by 14%

Price target increased by 7.4% to US$8.46

Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind

Empire State Realty Trust, Inc. Announces Board Appointments

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

Office REIT Empire State Realty Trust Is A Way To Sell Short New York City

Investor sentiment improves as stock rises 15%

Empire State Realty: Outlook Positive Despite Haze Over The Observatory

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

Investor sentiment improves as stock rises 19%

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

Consensus revenue estimates decrease by 13%, EPS upgraded

Analysts Just Made A Sizeable Upgrade To Their Empire State Realty Trust, Inc. (NYSE:ESRT) Forecasts

First quarter 2023 earnings: EPS and revenues exceed analyst expectations

Investor sentiment deteriorates as stock falls 16%

Full year 2022 earnings: EPS and revenues exceed analyst expectations

Empire State Realty Trust FFO of $0.22 beats by $0.04, revenue of $181.27M beats by $43.5M

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: Better To Observe From The Sidelines

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

Empire State Realty Trust declares $0.035 dividend

Third quarter 2022 earnings released: FFO per share: US$0.3 (vs US$0.31 in 3Q 2021)

Empire State Realty Trust FFO of $0.21 beats by $0.02, revenue of $183.71M beats by $34.65M

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