# Empire State Realty Trust Inc. (ESRT) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Real Estate / Equity Real Estate Investment Trusts (REITs). Price $4.54, market value $1.4 billion.

## Valuation
- **P/E (trailing): 227.0×** (5-yr avg 30.3×, 3-yr avg 30.8×). Empire State Realty Trust Inc. trades at 227.0× trailing earnings, well above its own five-year average of 30.3×: investors are paying up relative to the company's past. The Real Estate median in the September 2026 study was 25.2×. Forward P/E is 75.7×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 1.8×**. Each dollar of revenue is priced at 1.8×.
- **Price / book: 0.8×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 11.4×**. Enterprise value is 11.4× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Earnings yield: 0.4%**. The inverse of the P/E: 0.4% of the price is earned each year.

## Profitability
- **Operating margin: -4.4%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: 9.5%**. 9.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 6.9%**. 6.9% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: -1.8%**. Return on all capital, debt included, is -1.8%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 0.2%**. Each dollar of assets produces 0.2% of profit.

## Growth
- **Revenue growth (1 yr): 0.0%** (3-yr 1.9%/yr, 5-yr 4.7%/yr). Revenue grew 0.0% over the last year, against 4.7% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -10.7%** (3-yr 4.4%/yr). Earnings per share fell 10.7%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 0.57**. Debt is 0.57 times equity, moderate leverage.
- **Net debt / EBITDA: 2.9×**. It would take 2.9 years of operating earnings to repay net borrowings, within the comfortable range.
- **Altman Z-score: 0.92**. A Z-score of 0.92 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 3.08%** ($0.14 per share, trailing). Empire State Realty Trust Inc. yields 3.08%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 33%**. 33% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 4**. 4 straight years of increases.
- **Dividend growth (5 yr): -7.8%/yr** (1-yr 0.0%). The dividend has not grown over five years.

## Analyst view
- **Analyst consensus: hold** (5 analysts). 5 analysts cover Empire State Realty Trust Inc.; the consensus is hold, with an average price target of $6.10 (+34% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -41.0%** (YTD -29.4%, 3-mo -13.3%). The shares are down 41.0% over twelve months including dividends.
- **From 52-week high: -43.5%** (4.1% above the low). Trading 44% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 39**. An RSI of 39 is neutral.
- **Beta (1 yr): 0.42** (volatility 35%). Beta of 0.42 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=ESRT · Page: https://foliofundamentals.com/stocks/esrt

Not investment advice.