Empire State Realty Trust raises 2026 Core FFO outlook
ESRT•Empire State Realty Trust raised its 2026 Core FFO per-share outlook to $0.77-$0.80 from $0.75-$0.79. Third-quarter Core FFO was $0.20 per share, and the company repurchased $85.8 million in stock.
1. Higher 2026 outlook
Empire State Realty Trust raised its 2026 Core FFO per-share outlook to $0.77-$0.80 from $0.75-$0.79. The company expects year-end 2026 commercial occupancy of 90%-92%, while its 2026 Empire State Building Observation Deck NOI framework remains $55 million.
2. Quarterly results
Third-quarter net income was $5.90 million, or $0.02 per share, and Core FFO was $0.20 per share. Rental revenue was $161.97 million, up slightly year over year, and the company repurchased $85.8 million in stock. Office leasing spreads were 9.9% for the 21st consecutive quarter; Observation Deck NOI was stable while visitation remained weak.
