ESRT Narrows 2026 FFO Guidance to $0.75–$0.79, Reshapes Portfolio with $275M Sale
ESRT is trading near its 52-week low of $4.87 (4.7% above the low).
Summary
Empire State Realty Trust reported Q2 core FFO of $0.21 per share, with a GAAP loss of $0.15 from a goodwill impairment. The company narrowed its full-year 2026 core FFO guidance to $0.75–$0.79, reflecting portfolio changes and capital allocation moves. It sold 250 W 57th Street for $275 million, with the buyer assuming the debt, and acquired land under 111 W 33rd Street and 1400 Broadway for approximately $110 million. A $245 million delayed-draw loan maturing in 2032 was secured, and net debt to TTM EBITDA stands at roughly 6.6x. The guidance update and asset reshuffling provide a clearer picture of near-term earnings power, though the goodwill impairment and elevated leverage warrant attention. The stock is trading near its 52-week low, so any deviation from the narrowed range could trigger a sharp move.
At the time of this announcement, ESRT was trading at $5.10 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $872.5M. The 52-week trading range was $4.87 to $8.07. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Wiseek News.