Empire State Realty Trust Inc ( (ESRT) ) has released its Q3 earnings. Here is a breakdown of the information Empire State Realty Trust Inc presented to its investors.
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Empire State Realty Trust, Inc. (NYSE: ESRT) is a New York City-focused real estate investment trust (REIT) that manages a diverse portfolio of modernized office, retail, and multifamily properties, including the iconic Empire State Building. The company is known for its leadership in energy efficiency and indoor environmental quality.
In its third-quarter 2025 earnings report, Empire State Realty Trust announced a net income of $0.05 per share and a core funds from operations (Core FFO) of $0.23 per share. The company maintains a strong liquidity position with $0.8 billion available and has reaffirmed its 2025 financial guidance.
Key highlights from the report include a slight year-over-year decrease in same-store property cash net operating income due to increased real estate taxes and operating expenses, partially offset by higher tenant reimbursements. The company’s Manhattan office occupancy rose to 90.3%, and it executed significant leasing activity, including 87,880 square feet of commercial leases. Additionally, the Empire State Building Observatory generated $26.5 million in net operating income.
Empire State Realty Trust also announced the issuance of $175 million in senior unsecured notes and achieved a GRESB 5 Star Rating for the sixth consecutive year. The company’s balance sheet reflects a total debt of approximately $2.1 billion, with no floating rate debt exposure.
Looking ahead, Empire State Realty Trust remains committed to its strategic goals, with management confident in maintaining its guidance for 2025. The company aims to continue leveraging its prime real estate assets and strong market position to drive future growth and shareholder value.