Empire State Realty OP (ARCA:ESBA) - Stock Price, News & Analysis

ESBA Stock Overview

Operates as a subsidiary of Empire State Realty Trust, Inc. More details

ESBA 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 53.2% below our estimate of its fair value

Risk Analysis

Interest payments are not well covered by earnings

Empire State Realty OP, L.P. Competitors

Empire State Realty Trust

NYSE:ESRT

US$3.0b

Broadstone Net Lease

NYSE:BNL

US$3.4b

American Assets Trust

NYSE:AAT

US$2.1b

Essential Properties Realty Trust

NYSE:EPRT

US$6.0b

Price History & Performance

Summary of all time highs, changes and price drops for Empire State Realty OP
Historical stock prices
Current Share Price	US$10.52
52 Week High	US$11.50
52 Week Low	US$7.85
Beta	1.43
11 Month Change	-4.41%
3 Month Change	4.47%
1 Year Change	26.23%
33 Year Change	2.99%
5 Year Change	-24.08%
Change since IPO	-22.11%

Recent updates

Shareholder Returns

	ESBA	US REITs	US Market
7D	1.9%	1.1%	-1.0%
1Y	26.2%	11.4%	30.3%

Return vs Industry: ESBA exceeded the US REITs industry which returned 12.6% over the past year.

Return vs Market: ESBA underperformed the US Market which returned 30.4% over the past year.

Price Volatility

Is ESBA's price volatile compared to industry and market?
ESBA volatility
ESBA Average Weekly Movement	6.0%
REITs Industry Average Movement	3.1%
Market Average Movement	6.2%
10% most volatile stocks in US Market	15.7%
10% least volatile stocks in US Market	3.1%

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

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

About the Company

Founded	Employees	CEO	Website
n/a	666	Tony Malkin	n/a

Empire State Realty OP, L.P. operates as a subsidiary of Empire State Realty Trust, Inc.

Empire State Realty OP, L.P. Fundamentals Summary

How do Empire State Realty OP's earnings and revenue compare to its market cap?
ESBA fundamental statistics
Market cap	US$2.89b
Earnings (TTM)	US$73.19m
Revenue (TTM)	US$758.43m

39.4x

P/E Ratio

3.8x

P/S Ratio

Is ESBA overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
ESBA income statement (TTM)
Revenue	US$758.43m
Cost of Revenue	US$349.10m
Gross Profit	US$409.33m
Other Expenses	US$336.14m
Earnings	US$73.19m

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	0.27
Gross Margin	53.97%
Net Profit Margin	9.65%
Debt/Equity Ratio	139.9%

How did ESBA perform over the long term?

See historical performance and comparison

Dividends

1.3%

Current Dividend Yield

17%

Payout Ratio

ESBA Stock Overview

Rewards

Risk Analysis

Empire State Realty OP, L.P. Competitors

NYSE:ESRT

US$3.0b

NYSE:BNL

US$3.4b

NYSE:AAT

US$2.1b

NYSE:EPRT

US$6.0b

Price History & Performance

Recent News & Updates

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

Empire State Realty OP, L.P. announced delayed 10-Q filing

First quarter dividend of US$0.035 announced

Empire State Realty OP, L.P. announces Quarterly dividend, payable on September 30, 2024

New major risk - Revenue and earnings growth

Second quarter 2024 earnings released: EPS: US$0.10 (vs US$0.14 in 2Q 2023)

Recent updates

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

Empire State Realty OP, L.P. announced delayed 10-Q filing

First quarter dividend of US$0.035 announced

Empire State Realty OP, L.P. announces Quarterly dividend, payable on September 30, 2024

New major risk - Revenue and earnings growth

Second quarter 2024 earnings released: EPS: US$0.10 (vs US$0.14 in 2Q 2023)

Empire State Realty OP, L.P. (ARCA:ESBA) agreed to acquire Prime retail portfolio located in Williamsburg, Brooklyn for approximately $100 million.

Upcoming dividend of US$0.035 per share

First quarter 2024 earnings released: EPS: US$0.056 (vs US$0.041 in 1Q 2023)

Empire State Realty OP, L.P. announced that it expects to receive $225 million in funding

New minor risk - Dividend sustainability

Upcoming dividend of US$0.035 per share

Full year 2023 earnings released: EPS: US$0.30 (vs US$0.22 in FY 2022)

Investor sentiment improves as stock rises 16%

Third quarter 2023 earnings released: EPS: US$0.07 (vs US$0.034 in 3Q 2022)

Investor sentiment improves as stock rises 17%

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

Second quarter 2023 earnings released: EPS: US$0.14 (vs US$0.17 in 2Q 2022)

Investor sentiment improves as stock rises 19%

Investor sentiment improves as stock rises 18%

Upcoming dividend of US$0.035 per share at 2.3% yield

Investor sentiment improves as stock rises 23%

First quarter 2023 earnings released: EPS: US$0.04 (vs US$0.067 loss in 1Q 2022)

Investor sentiment improves as stock rises 15%

Investor sentiment deteriorates as stock falls 18%

Full year 2022 earnings released

Insufficient new directors

Third quarter 2022 earnings released: EPS: US$0.024 (vs US$0.041 loss in 3Q 2021)

Now 20% undervalued after recent price drop

Upcoming dividend of US$0.035 per share

Now 26% undervalued after recent price drop

Second quarter 2022 earnings released: FFO per share: US$0.3 (vs US$0.17 in 2Q 2021)

Now 21% undervalued after recent price drop

Upcoming dividend of US$0.035 per share

Now 20% undervalued after recent price drop

Now 21% undervalued after recent price drop

First quarter 2022 earnings released

Insufficient new directors

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Third quarter 2021 earnings released: US$0.016 loss per share (vs US$0.049 loss in 3Q 2020)

Upcoming dividend of US$0.035 per share

Second quarter 2021 earnings released: EPS US$0.015 (vs US$0.074 loss in 2Q 2020)

Upcoming dividend of US$0.035 per share

New 90-day high: US$11.74

Senior VP, Chief Accounting Officer & Treasurer of Empire State Realty Trust has left the company

Full year 2020 earnings released: US$0.058 loss per share (vs US$0.27 profit in FY 2019)

New 90-day high: US$10.08

New 90-day high: US$10.06

Empire State Realty Trust, Inc. and Empire State Realty Op, L.P. Announce Executive Changes

Third quarter 2020 earnings released: US$0.046 loss per share

New 90-day low: US$5.46

New 90-day low - US$6.06

New 90-day low - US$6.20

First half earnings released

New 90-day low - US$6.28

Shareholder Returns

Price Volatility

About the Company

Empire State Realty OP, L.P. Fundamentals Summary