NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the "Company†), today announced that it will release its fourth quarter 2025 financial results on Tuesday, February 17, 2026, after the close of markets on the New York Stock Exchange. A conference call will be held on Wednesday, February 18, 2026, at 12:00 p.m. Eastern Time. During the conference call, the Company's officers will review fourth quarter performance, discuss recent events and conduct a question-and-answer period. The e ...

A New York City-focused REIT, with an expansive portfolio that includes the Empire State Building, has hit a prolonged rough patch amid structural shifts in the post-COVID retail and office space dynamics across the country.The Empire State Realty Trust Inc. (NYSE:ESRT) has witnessed a steep decline in its Growth score in Benzinga’s Edge Stock Rankings, which coincides with the drop in the company’s stock price over the past year.Remote Work, Weak Tourism Hurt Prominent REITThe Growth score in Benzinga’s Ed ...

The sale-leaseback features a 15-year lease with extension options. Empire State Realty Trust will assume responsibility for ongoing property maintenance and capital improvements, while Scholastic retains long-term access to the space necessary for its business operations. About Newmark Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of servic ...

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) today announced that the Empire State Building has achieved Leadership in Energy and Environmental Design (LEED) Platinum certification under the Existing Buildings: Operations + Maintenance Version 5 program, the highest level of recognition under the U.S. Green Building Council's latest standard. The Empire State Building is the largest LEED v5 Platinum project in the United States and the first in the state of New York t. ...

A major fund just walked away from this iconic New York REIT — here’s what long-term investors should really take from the move.On November 14, New York City-based HGI Capital Management disclosed it fully exited its position in Empire State Realty Trust (ESRT 1.89%), selling 494,696 shares for an estimated $4 million during the third quarter.What HappenedAccording to a filing with the Securities and Exchange Commission dated November 14, HGI Capital Management sold all 494,696 shares of Empire State Realty ...

Core Viewpoint - Empire State Realty Trust, Inc. has declared dividends for the fourth quarter of 2025 for both its common stock and preferred units, reflecting the company's ongoing commitment to returning value to its shareholders [1][2]. Financial Information - The company declared a dividend of $0.035 per share for its Class A and Class B common stock [1]. - For the fourth quarter of 2025, a dividend of $0.15 per unit will be paid to holders of ESRO's Series 2014 Private Perpetual Preferred Units, and a dividend of $0.175 per unit for holders of Series 2019 Private Perpetual Preferred Units [2]. - The dividends will be payable in cash on December 31, 2025, to stockholders or unitholders of record at the close of business on December 15, 2025 [2]. Company Overview - Empire State Realty Trust, Inc. is a New York City-focused REIT that owns and operates a portfolio of modernized office, retail, and multifamily assets [3]. - The flagship asset, the Empire State Building, is recognized as the 1 Top Attraction in New York City for the fourth consecutive year in Tripadvisor's 2025 Travelers' Choice Awards [3]. - As of September 30, 2025, the company's portfolio includes approximately 7.8 million rentable square feet of office space, 0.8 million rentable square feet of retail space, and 743 residential units [3].

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Core Viewpoint - Empire State Realty Trust, Inc. has agreed to acquire the Scholastic Building located at 555-557 Broadway for $386 million, indicating a strategic investment in a prime Manhattan location [1] Company Summary - The acquisition involves a property in the SoHo submarket of Manhattan, situated between Spring and Prince Streets, with entrances on Mercer Street and Broadway [1] - The property encompasses approximately 368,000 square feet of office space and 28,000 square feet of prime retail space [1] - Currently, the property is 70% leased, which includes a significant 15-year office lease [1]

Financial Performance - Net income for the three months ended September 30, 2025, was $13.6 million, a decrease of 40.1% compared to $22.8 million for the same period in 2024[135][138]. - Core Funds From Operations (Core FFO) for the same period was $61.3 million, attributable to common stockholders and the operating partnership[135]. - Total revenues for the three months ended September 30, 2025, were $197.7 million, a slight decrease of 0.9% from $199.6 million in 2024[138]. - Operating income fell to $100,243,000, down 13.4% from $115,770,000 in the prior year[145]. - Net income attributable to common stockholders decreased to $23,724,000, a decline of 34.6% from $36,273,000 in the same period of 2024[145]. - For the nine months ended September 30, 2025, net income was $40.8 million, a decrease from $61.6 million for the same period in 2024[197]. - Funds from Operations (FFO) attributable to common stockholders for the nine months ended September 30, 2025, was $166.0 million, down from $182.5 million in 2024, representing a decrease of 9.0%[197]. - Modified Funds from Operations (Modified FFO) for the nine months ended September 30, 2025, was $171.9 million, compared to $188.3 million in 2024, reflecting a decrease of 8.7%[197]. - Core Funds from Operations (Core FFO) for the nine months ended September 30, 2025, was $172.5 million, down from $191.4 million in 2024, indicating a decrease of 9.9%[197]. Revenue Breakdown - Rental revenue increased by 3.5% to $158.4 million in Q3 2025, up from $153.1 million in Q3 2024, primarily due to acquisitions and higher tenant reimbursement income[138][139]. - Observatory revenue decreased by 8.5% to $36.0 million in Q3 2025, down from $39.4 million in Q3 2024, attributed to lower international tourism[138][143]. - Rental revenue increased to $466,492,000 for the nine months ended September 30, 2025, up 1.5% from $459,469,000 in the same period of 2024[145]. - Observatory revenue decreased to $93,097,000, down 5.1% from $98,102,000 year-over-year, primarily due to lower international tourism and adverse weather conditions[152]. - Total revenues for the nine months ended September 30, 2025, were $569,046,000, a slight decrease of 0.2% compared to $570,321,000 in 2024[145]. Expenses and Costs - Total operating expenses for Q3 2025 were $158.4 million, an increase of 2.7% from $154.3 million in Q3 2024[138]. - Property operating expenses rose by 2.2% to $47.0 million in Q3 2025, driven by higher repair and maintenance costs and acquisitions[138][140]. - Real estate taxes increased by 3.9% to $33.2 million in Q3 2025, influenced by higher tax rates and property valuations[138][141]. - Interest income fell by 83.5% to $1.1 million in Q3 2025, down from $7.0 million in Q3 2024, due to decreased cash and cash equivalents[138][142]. - Interest income dropped significantly by 58.1% to $6,799,000, compared to $16,230,000 in the previous year, due to reduced cash and cash equivalents[150]. Cash and Debt Management - As of September 30, 2025, total consolidated indebtedness was approximately $2.1 billion, with a weighted average interest rate of 4.34%[157]. - The company had $154.1 million in cash and cash equivalents and $620.0 million available under its unsecured revolving credit facility as of September 30, 2025[157]. - The weighted average interest rate on $2.1 billion of fixed-rate indebtedness was 4.34% per annum as of September 30, 2025[209]. - The fair value of outstanding debt was approximately $2.0 billion, which was about $0.1 billion less than the book value as of September 30, 2025[210]. - The company has interest rate SOFR swap and cap agreements with an aggregate notional value of $447.5 million, maturing between December 31, 2026, and November 1, 2033[208]. Leasing and Property Management - The company signed a total of 87,880 rentable square feet of new, renewal, and expansion leases during the quarter[136]. - Total new leases signed in office properties for the nine months ended September 30, 2025, was 51, covering 523,002 square feet, with a weighted average annualized cash rent of $68.94 per square foot, representing a 9.8% increase over previously escalated rents[173]. - In retail properties, the number of leases signed decreased to 7 in 2025 from 9 in 2024, with a weighted average annualized cash rent of $183.86 per square foot, reflecting a decrease of 12.9% compared to previous leases[174]. - As of September 30, 2025, approximately 0.9 million rentable square feet were available to lease, representing 10.4% of the net rentable square footage in the commercial portfolio[199]. Capital Expenditures and Future Costs - Capital expenditures for the total commercial portfolio amounted to $47.4 million for the nine months ended September 30, 2025, compared to $48.9 million in 2024[177]. - As of September 30, 2025, the company expects to incur approximately $96.8 million in additional costs related to tenant improvements and leasing commissions[178]. Shareholder Returns - Distributions to equity holders totaled $32.4 million for the nine months ended September 30, 2025, compared to $31.8 million in 2024[182]. - The company authorized a repurchase program of up to $500 million for Class A common stock and operating partnership units, with $497.9 million remaining as of September 30, 2025[183]. Visitor Statistics - The Observatory hosted 1,705,000 visitors for the nine months ended September 30, 2025, an 8.3% decrease from 1,860,000 visitors in the same period of 2024[200].

Core Viewpoint - The equity market serves as a significant mechanism for wealth creation or destruction over the long term, with Pacifica Yield focusing on undervalued high-growth companies, high-dividend stocks, REITs, and green energy firms [1] Group 1 - Pacifica Yield aims to pursue long-term wealth creation [1] - The strategy includes a focus on undervalued yet high-growth companies [1] - High-dividend tickers, REITs, and green energy firms are also key areas of interest [1]