Empire State Realty Trust(US:ESRT)2021-02-19 12:44Financial Strength - The company has ample liquidity of $1.6 billion, including $527 million in cash and $1.1 billion undrawn capacity on a revolving credit facility[1] - The company has modest leverage, with a Net Debt / Adj EBITDA of 6.3x, compared to peers at 7.8x[5, 12] - The company's Net Debt / Enterprise Value is 37%, compared to peers at 51%[12] - The company has no outstanding debt maturity until 2024[1] - The weighted average interest rate is 3.91%[11] Portfolio Performance & Upside - The company has $35 million in contracted revenue growth, representing embedded upside[2] - The company's Manhattan office portfolio comprises 75% of the total rentable square feet[15] - The company's entire portfolio is 100% powered by renewable wind energy[4] - The company earned a GRESB 5 Star Rating, placing it in the top 20% of all GRESB respondents[4] Observatory Performance - The Observatory's revenue experienced a 9% CAGR from 2001 to 2019[32]