Reports Q1 revenue $164.522M, consensus $181.27M. Same-Store Property Cash Net Operating Income excluding lease termination fees declined 11.4% year-over year, primarily due to low operating expenses in 1Q22 amid lower building utilization, coupled with a number of one-time cash revenue items in 1Q22 that aggregated ~$3.3 million inclusive of lease modification payments received. Excluding these one-time items in 1Q22, Same-Store Property Cash NOI decline would be 7.0%.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on ESRT:
- Empire State Realty downgraded at Evercore after tenant Signature’s collapse
- Empire State Realty downgraded to In Line from Outperform at Evercore ISI
- Empire State Realty price target lowered to $8 from $9 at Evercore ISI
- Empire State Realty upgraded to Outperform from Market Perform at BMO Capital
- Empire State upgraded on New York City tourism recovery at BofA
