EMPIRE STATE REALTY REIT INC TRUST (ESRT)
Real Estate · Office REITs · NYSE
A NYC-focused REIT that owns the iconic Empire State Building and a high-quality portfolio of modernized office, retail, and residential properties.
What EMPIRE STATE REALTY REIT INC TRUST does
Empire State Realty Trust is a New York City-focused real estate investment trust (REIT) that owns, manages, and operates a portfolio of modernized office, retail, and multifamily assets. The company's flagship asset is the Empire State Building, which includes a major tourist observatory. The company focuses on high-quality, amenitized, and energy-efficient properties in Manhattan.
Themes: New York City real estate, Commercial real estate office leasing, Retail property management, Multifamily housing, Tourism and experiential real estate, Sustainable building operations
Fundamentals
- Price$4.82 as of 2026-08-21 close
- Market cap$839M as of 2026-08-24
- 1-year return-34.0% 2025-08-21 close $7.30 → 2026-08-21 close $4.82
- P/E21.17 as of 2026-08-24
- Net margin+5.1% as of 2026-08-24
- Gross margin+53.8% as of 2026-08-24
- ROE+3.7% as of 2026-08-24
- Debt / equity2.12 as of 2026-08-24
- Revenue growth (YoY)+1.5% as of 2026-08-24
- Revenue CAGR (3y)+1.9% SEC XBRL
- Beta1.42 as of 2026-08-24
- Last reported earnings2026-07-29 SEC EDGAR Form 8-K (Item 2.02)
Dividend: yield +1.6%; at least 5 years of non-decreasing per-share dividends (SEC XBRL) — we do not hold the year before it, so the real streak may be longer.
How ESRT compares in its sector
- price-to-earnings ratiomiddle range 127 covered Real Estate peers, as of 2026-08-24
- net profit marginmiddle range 161 covered Real Estate peers, as of 2026-08-24
- operating marginmiddle range 161 covered Real Estate peers, as of 2026-08-24
- gross marginmiddle range 156 covered Real Estate peers, as of 2026-08-24
- return on equitymiddle range 162 covered Real Estate peers, as of 2026-08-24
- 3-year revenue CAGRmiddle range 155 covered Real Estate peers
- indicated dividend yieldbottom 10% 138 covered Real Estate peers, as of 2026-08-24
Position among covered Real Estate companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
Dividend coverage (FY2025)
Covered by reported results. In FY2025, ESRT's dividend was covered by reported results (earnings payout 33%, operating-cash-flow payout 10%). This describes past coverage, not a forecast.
- Earnings payout33% dividends / net income
- Operating-cash-flow payout10% dividends / operating cash flow — capital spending was not reported, so this does not subtract it
Coverage derived from reported SEC EDGAR XBRL figures for FY2025 (dividends paid vs. net income and free cash flow, same fiscal year). This describes PAST coverage for one fiscal year — it does not predict whether a dividend will be maintained, raised, or cut, and a one-year payout ratio can be distorted by non-recurring items. Informational only — not financial advice.
How EMPIRE STATE REALTY REIT INC TRUST looks technically
EMPIRE STATE REALTY REIT INC TRUST (ESRT) is trading 18.1% below its 200-day average, the long-term trend line — a long-term downtrend. Its 50-day average crossed below its 200-day average about 384 trading days ago — a "death cross", a bearish long-term signal. A trend is forming but not yet strong — ADX, a 0–100 trend-strength gauge, is 23 (a reading of 25+ marks a strong trend). Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 42, neither overbought (above 70) nor oversold (below 30). MACD, a trend-momentum gauge, turned bullish about 2 trading days ago (its momentum flipped positive). It made a new 20-day low about 9 trading days ago. It is 4.6% above its 52-week low (its lowest price of the past year).
Trend
7
| Distance from the 200-day | it is trading 18.1% below its 200-day average, the long-term trend line — a long-term downtrend | -18.1% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $5.24 | $5.24 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $5.88 | $5.88 |
| Swing structure | its recent peaks and dips disagree — one of them is rising while the other is not, so there is no clean up or down pattern in the swings | mixed — one of the two is not confirming |
| Last swing turn | its last significant turn was a swing low 11 calendar days ago — the swings before that are what the structure reading is measured on | 11 sessions |
| Since the 50/200 cross | its 50-day average crossed below its 200-day average about 384 trading days ago — a "death cross", a bearish long-term signal | 384 sessions |
| Trend strength (14-day ADX) | a trend is forming but not yet strong — ADX, a 0–100 trend-strength gauge, is 23 (a reading of 25+ marks a strong trend) | 23.3 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 42, neither overbought (above 70) nor oversold (below 30) | 42.2 |
|---|---|---|
| Position in its 14-day range | it is trading in the upper half of its 14-day range ($4.61 to $4.97) — its "stochastic" reading is 58 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been climbing within that range over the last few sessions. | 58.3 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, turned bullish about 2 trading days ago (its momentum flipped positive) | 2 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $8.07 | $8.07 |
|---|---|---|
| From the 52-week high | it is 40.3% below its 52-week high (its highest price of the past year) | -40.3% |
| Above the 52-week low | it is 4.6% above its 52-week low (its lowest price of the past year) | +4.6% |
| Below the 52-week high | it is 40.3% below its highest point of the past year | 40.3% |
| Since a 20-day breakout | it made a new 20-day low about 9 trading days ago | 9 sessions |
| Since a 55-day breakout | it made a new 55-day low about 9 trading days ago | 9 sessions |
| All-time high | its highest closing price on record is $22.30 (set on 2016-09-02) | $22.30 |
| Given back of the 52-week move | over the past year its closes ranged ($4.63 to $7.97), and it has recovered only a small part of its fall from last year’s high — 6% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $6.69 to $6.80. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 5.7% |
| From the all-time high | it is 78.4% below its all-time high | -78.4% |
| Nearest price level | it is trading 10.5% below a resistance level at $5.33 — a price it turned at three times since 2026-05-05, most recently on 2026-07-22. Since 2024-08-21 it has 0 such levels below the current price and 15 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | +10.5% |
| All-time low | its lowest closing price on record is $4.61 (set on 2026-08-10) | $4.61 |
| Above the all-time low | it is 4.6% above its all-time low | +4.6% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are unusually wide versus its own recent history (wider than about 92% of the past ~6 months) | 92nd percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $0.1727 between its high and its low — about 3.6% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $0.1727 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $4.28 and $5.62 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $4.28 – $4.95 – $5.62 |
| Typical daily range (% of price) | its price moves about 3.6% in a typical session — about typical for the companies we cover. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 3.6% |
| Stretch from the 200-day average | it is trading 6.2 daily ranges below its 200-day average price (18.1% below it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 6.2 daily ranges below its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 0.81× |
|---|
Analyst
2
| Change in the average price target | analysts' average price target is unchanged from the prior reading | 0.0% |
|---|---|---|
| Change in the consensus rating | the analyst consensus rating is unchanged since the prior reading | unchanged |
Candlestick patterns
1
| Since a doji | 8 sessions ago it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level | 8 sessions ago |
|---|
Price gaps
3
| Gap at the open | it opened on 2026-08-21 0.2% above the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and traded back through that level before the close | +0.2% |
|---|---|---|
| Open gap | it gapped 10.0% below the previous close 16 sessions ago and has not traded back through the level it left behind at 5.8 — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed | -10.0% |
| Gap filled | a 2.0% gap up opened on 2026-07-31 has been "filled" 15 sessions ago — price traded back through the level the gap left behind, and it closed again during the very session that opened it | 15 sessions ago |
Price streaks
1
| Closing streak | it closed higher in its latest session, after a session that did not close higher — a single up day rather than a run | 1 session up |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock lagged the market by 15.2 percentage points (the stock lost 12.8% while the market gained 2.3%) | -15.2% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock lagged the market by 17.6 percentage points (the stock lost 14.5% while the market gained 3.1%) | -17.6% |
| vs market, 6 months | over the past 6 months this stock lagged the market by 29.8 percentage points (the stock lost 18.7% while the market gained 11.1%) | -29.8% |
| vs market, 12 months | over the past 12 months this stock lagged the market by 54.5 percentage points (the stock lost 34.0% while the market gained 20.5%) | -54.5% |
Signal agreement
2
| Bullish technical signals | 1 of the 9 technical signals we can compute for it is currently in a bullish state: MACD momentum is positive — these describe past price behaviour, not a forecast | 1 of 9 |
|---|---|---|
| Bearish technical signals | 4 of the 9 technical signals we can compute for it are currently in a bearish state: a "death cross" — its 50-day average is below its 200-day, trading below its 200-day average, lagging the market over 6 months, trading below the Ichimoku cloud — these describe past price behaviour, not a forecast | 4 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 12% below the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-07-16 and projected forward over today's price, the side traders read as an established downtrend, with the band above acting as the level that would have to be cleared. The band itself is thin, spanning 0.7% of the share price, which is taken to mean a barrier that gives way easily. | -11.9% |
|---|
Volume-weighted price
1
| Vs this year’s average price paid | the price is 13% below the average price paid so far this year, so the typical buyer over that stretch is under water. That average is $5.56 — a volume-weighted average of daily closes over 158 sessions, not a true tick-by-tick VWAP. | -13.4% |
|---|
Price levels it has turned at before
ESRT last closed at $4.82 on 2026-08-21. Since 2024-08-21 it has turned at 0 prices below its last close and 15 above; the 3 nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $5.33 | Resistance | 10.5% above the last close | turned there three times · 2026-05-05 to 2026-07-22 |
| $5.83 | Resistance | 21.0% above the last close | turned there four times · 2026-05-07 to 2026-07-17 |
| $6.58 | Resistance | 36.5% above the last close | turned there three times · 2025-04-09 to 2026-01-07 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
No Elliott-wave labelling currently fits its swings: the recent highs and lows do not satisfy the three rules a five-wave count has to obey, so there is no count to show rather than a count we are unsure about.
Read from daily closes as of 2026-08-21.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading below the 200-day moving average · Pulled back from the 12-month high · MACD just crossed bullish (12/26/9) · Near the all-time low · lagging the market · Stretched far below its 200-day average (6+ daily ranges) | Learn: moving average · golden cross · adx · rsi · macd · breakout · fifty two week high low
Based on daily closing prices as of 2026-08-21. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Consensus ratingHold (2.67 mean, 1=Strong Buy…5=Strong Sell) — 5 analysts
- Mean price target$6.10 range $5.00 – $7.00; median $6.00
Analyst estimates, as of 2026-08-19. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Key risks (from latest filing)
["Concentration risk in the New York City commercial real estate market.","Sensitivity to tourism demand impacting observatory revenue.","Debt obligations and interest rate sensitivity."]
What changed in the latest 10-Q
AI-assisted comparison of ESRT's 10-Q filed 2026-05-07 against the prior one filed 2025-11-05.
Management's Discussion & Analysis (MD&A)
- Added:
- In March 2026, closed acquisition of retail property on North 6th Street in Williamsburg, Brooklyn for $46.0 million (newer filing, highlights)
- Lease termination fees of $1,356 thousand for Q1 2026 (newer filing)
- Interest expense associated with property in receivership line item for prior year comparison showing $647 thousand expense in Q1 2025 (newer filing)
- Removed:
- Reference to nine month periods in MD&A scope (older filing compared three and nine month periods; newer filing compares only three month periods)
- Lease termination fees of $4,771 thousand for Q3 2024 (older filing)
- Core FFO of $61.3 million attributable to common stockholders and operating partnership for Q3 2025 (older filing shows $61.3M; newer filing shows $53.2M for Q1 2026)
- Reworded:
- Forward-looking statements risk language restructured: older filing uses numbered list format (i)-(xx) with more detailed enumeration; newer filing uses narrative format with embedded examples
- Forward-looking statements safe harbor reference: older filing states 'Private Securities Litigation Reform Act of 1995 and are including this statement for purposes of complying with those safe harbor provisions'; newer filing states 'we intend these forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995'
- Forward-looking statement disclaimer language: older filing includes 'While forward-looking statements reflect the Company's good faith beliefs, they do not guarantee future performance' and 'Prospective investors should not place undue reliance on any forward-looking statements'; newer filing uses simpler 'We undertake no obligation to update or revise any forward-looking statement to reflect subsequent events or circumstances, except as required by law'
- Annual Report reference: older filing references 'Annual Report for the year ended December 31, 2024'; newer filing references 'Annual Report for the year ended December 31, 2025'
- Notes:
- The two filings cover different quarterly periods (Q1 2026 vs Q3 2025) and compare to different prior year periods (Q1 2025 vs Q3 2024), making some operational metric comparisons between filings not directly comparable
- The older filing text appears truncated at 'Other' row in the operating results table, preventing complete comparison of full results tables
Risk Factors
The two filings could not be meaningfully compared for this section.
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
No open-market insider purchases or sales are on record for ESRT — recent Form 4 activity was compensation-related (awards, option exercises, or tax withholding), not open-market buying or selling.
View full insider trading history → View SEC Form 3/4/5 filingsOnly open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Short interest (FINRA)
ESRT had 7,732,635 shares of reported short interest as of the 2026-07-31 FINRA settlement date (delayed, bi-monthly; not real-time).
Short interest as a percent of shares outstanding is not shown for ESRT because we do not hold a verified share count to divide it by. The reported figures above are unaffected.
- Reported short interest (shares) 7,732,635
- Prior settlement (shares) 8,714,401
- Reported change -11.27%
- Days to cover (reported) 3.92
Reported to FINRA as of the 2026-07-31 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- SL Green Realty (SLG)
- Vornado Realty Trust (VNO)
- Boston Properties (BXP)
- Brookfield Properties
- Related Companies
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
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Frequently asked questions
What does EMPIRE STATE REALTY REIT INC TRUST (ESRT) do?
Empire State Realty Trust is a New York City-focused real estate investment trust (REIT) that owns, manages, and operates a portfolio of modernized office, retail, and multifamily assets. The company's flagship asset is the Empire State Building, which includes a major tourist observatory. The company focuses on high-quality, amenitized, and energy-efficient properties in Manhattan.
What sector is EMPIRE STATE REALTY REIT INC TRUST (ESRT) in?
EMPIRE STATE REALTY REIT INC TRUST (ESRT) is classified in the Real Estate sector. Its industry is Office REITs. It trades on NYSE.
Does ESRT pay a dividend?
Yes — EMPIRE STATE REALTY REIT INC TRUST (ESRT) pays a dividend, with an indicated yield of about 1.63% and at least 5 years of non-decreasing per-share dividends (SEC EDGAR XBRL) — we do not hold the year before it, so the real streak may be longer (market data, as of 2026-08-24). Informational only — not financial advice.
Who are EMPIRE STATE REALTY REIT INC TRUST's (ESRT) competitors?
Notable peers of EMPIRE STATE REALTY REIT INC TRUST (ESRT) include SL Green Realty, Vornado Realty Trust, Boston Properties, Brookfield Properties and Related Companies. This peer set is informational only — not financial advice.
Is EMPIRE STATE REALTY REIT INC TRUST (ESRT) overbought or oversold right now?
EMPIRE STATE REALTY REIT INC TRUST (ESRT) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 42, in the neutral middle (as of 2026-08-21). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on ESRT come from?
Fundamentals and prices come from market data, as of 2026-08-24; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: market data, as of 2026-08-24. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-08-21.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.