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NYC's Empire State Building Is Feeling The Squeeze From Remote Work, Tourism Weakness: Growth Score Drops - Empire State Realty Trust (NYSE:ESRT)
Benzinga· 2025-12-26 09:43
Core Insights - Empire State Realty Trust Inc. (NYSE:ESRT) is facing significant challenges due to structural shifts in the retail and office space dynamics post-COVID, leading to a decline in its stock price and Growth score in Benzinga's Edge Stock Rankings [1][5] Group 1: Company Performance - The Growth score for Empire State Realty Trust has dropped from 44.61 to 30.1 within a week, influenced by analysts like Wells Fargo reducing their price targets for the stock [3] - The company has consistently missed top-line estimates in recent quarters, with earnings declining due to the ongoing remote/hybrid work trend and a slowdown in tourism [4] - The stock has decreased by 35.99% year-to-date and 7% over the past month, reflecting poor Momentum and Growth scores in Benzinga's Edge Stock Rankings [5] Group 2: Market Dynamics - The decline in the company's performance is attributed to the structural changes in the post-COVID environment, particularly affecting the office and retail sectors [1][4] - The assessment of the Growth score in Benzinga's Edge Stock Rankings considers both short and long-term trends in earnings and revenue growth, indicating a significant downturn for the company [2]