ESBA - Empire State Realty OP LP Stock Price, Fair Value and News

9.01USD+0.13 (+1.46%)Market Closed

Market Summary

USD9.01+0.13

Market Closed

1.46%

ESBA Stock Price

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ESBA RSI Chart

ESBA Valuation

Market Cap

2.4B

Price/Earnings (Trailing)

28.1

Price/Sales (Trailing)

3.21

EV/EBITDA

7.92

Price/Free Cashflow

10.2

ESBA Price/Sales (Trailing)

ESBA Profitability

EBT Margin

11.78%

Return on Assets

Free Cashflow Yield

9.8%

ESBA Fundamentals

ESBA Revenue

Revenue (TTM)

739.6M

Rev. Growth (Yr)

6.4%

Rev. Growth (Qtr)

0.71%

ESBA Earnings

Earnings (TTM)

84.4M

Earnings Growth (Yr)

-26.78%

Earnings Growth (Qtr)

-20.56%

Breaking Down ESBA Revenue

Last 7 days

-0.5%

Last 30 days

-7.6%

Last 90 days

-9.9%

How does ESBA drawdown profile look like?

ESBA Financial Health

Debt/Cashflow

0.24

ESBA Investor Care

Dividend Yield

1.6%

Dividend/Share (TTM)

0.14

Buy Backs (1Y)

1.90%

Diluted EPS (TTM)

0.3

Historical Charts for Stock Metrics

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Net sales

Year	Q1	Q2	Q3	Q4
2023	727.6M	720.1M	728.0M	739.6M
2022	642.8M	687.4M	706.1M	727.0M
2021	584.3M	596.7M	615.2M	624.1M
2020	734.3M	699.1M	652.8M	609.2M
2019	731.5M	729.2M	735.7M	731.3M
2018	712.5M	714.6M	714.5M	731.5M
2017	684.6M	695.2M	706.0M	709.5M
2016	662.8M	663.8M	663.7M	677.4M
2015	646.9M	656.5M	662.8M	657.6M
2014	389.7M	485.3M	592.5M	635.3M
2013	262.9M	265.0M	267.9M	311.9M
2012	286.2M	277.5M	268.9M	260.3M
2011	0	0	0	294.8M

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Which funds bought or sold ESBA recently?

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Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
Apr 19, 2024	Apexium Financial, LP	unchanged	-	20,984	242,027	0.02%
Apr 18, 2024	WOODMONT INVESTMENT COUNSEL LLC	unchanged	-	20,604	360,386	0.03%
Apr 16, 2024	COUNTRY TRUST BANK	unchanged	-	5,231	91,485	-%
Apr 16, 2024	Transform Wealth, LLC	unchanged	-	27,760	320,192	0.03%
Apr 16, 2024	Transform Wealth, LLC	unchanged	-	-10,028	122,366	0.01%
Apr 11, 2024	D. SCOTT NEAL, INC.	unchanged	-	16,530	289,130	0.19%
Apr 10, 2024	Apella Capital, LLC	unchanged	-	12,560	171,716	0.01%
Apr 10, 2024	Sterling Financial Group, Inc.	reduced	-2.12	37,187	1,012,170	0.48%
Apr 10, 2024	Sterling Financial Group, Inc.	sold off	-100	-100,914	-	-%
Apr 10, 2024	Sterling Financial Group, Inc.	sold off	-100	-150,341	-	-%

Are Funds Buying or Selling ESBA?

Are funds buying ESBA calls or puts?

Calls

Puts

No. of funds holding Calls - Puts

Net Call Options

No. of funds that own ESBA

No. of Funds

Recent SEC filings of Empire State Realty OP LP

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Date Filed	Form Type	Document
Apr 24, 2024	8-K	Current Report
Apr 11, 2024	8-K	Current Report
Apr 04, 2024	8-K	Current Report
Mar 13, 2024	8-K	Current Report
Feb 28, 2024	10-K	Annual Report
Feb 20, 2024	8-K	Current Report
Feb 20, 2024	8-K	Current Report

Peers (Alternatives to Empire State Realty OP LP)

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
AMT	80.0B	11.1B	-13.07%	-16.56%	58.53	7.18	4.04%	-19.43%
CCI	40.6B	7.0B	-11.42%	-23.94%	27.05	5.82	-0.07%	-10.36%
AVB	27.2B	2.8B	4.23%	7.77%	29.28	9.82	6.73%	-18.30%
ARE	20.0B	3.0B	-8.98%	-5.30%	103.7	6.76	10.44%	-74.28%
AMH	13.2B	1.6B	0.36%	10.41%	30.48	8.2	7.80%	39.39%
REG	10.8B	1.3B	-3.17%	-3.56%	29.5	8.13	8.04%	-24.50%
BXP	9.7B	3.3B	-2.61%	16.43%	50.75	2.95	5.31%	-77.32%
MID-CAP
FRT	8.5B	1.1B	0.64%	5.62%	35.79	7.49	5.38%	-38.52%
MAC	3.4B	884.1M	-8.25%	61.48%	-12.34	3.83	2.90%	-314.82%
SLG	3.3B	899.4M	-5.88%	123.69%	-5.81	3.64	-0.45%	-623.11%
SMALL-CAP
AAT	1.3B	441.2M	-1.89%	16.07%	19.98	2.93	4.38%	15.77%
AIV	1.2B	198.2M	-0.86%	4.68%	-7.41	5.71	-43.33%	-270.70%
MFA	1.1B	605.6M	-4.62%	2.48%	13.66	1.81	25.53%	134.62%
NYMT	642.3M	258.7M	-1.26%	-30.71%	-13.2	2.48	0.11%	83.70%
IVR	414.8M	277.9M	-10.27%	-17.45%	-26.16	1.49	44.33%	96.06%

Empire State Realty OP LP News

Latest updates

Empire State Realty OP LP Earnings Report: Key Takeaways & Analysis

Income Statement (Last 12 Months)

(In Millions)

(*) denotes actual numbers (not divided by Millions)
Income Statement (Quarterly)																					(In Millions)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Revenue	0.7%	193	192	191	165	181	184	198	164	160	165	153	145	151	147	141	170	195	193	176	167	199
Operating Expenses	1.9%	152	149	144	147	142	148	152	158	139	152	127	127	132	135	141	143	148	148	140	141	141
S&GA Expenses	0.8%	16.00	16.00	16.00	16.00	16.00	16.00	16.00	14.00	14.00	14.00	14.00	14.00	14.00	15.00	18.00	16.00	17.00	14.00	16.00	14.00	14.00
EBITDA Margin	-1.7%	0.51*	0.52*	0.51*	0.54*	0.53*	0.51*	0.51*	0.45*	0.45*	0.46*	0.43*	0.41*	0.41*	0.43*	0.45*	0.47*	0.48*	0.49*	0.50*	0.51*	0.51*
Interest Expenses	0.0%	25.00	25.00	25.00	25.00	26.00	26.00	25.00	25.00	24.00	24.00	23.00	24.00	23.00	23.00	24.00	20.00	19.00	19.00	21.00	21.00	21.00
Income Taxes	27.2%	2.00	1.00	1.00	-1.22	1.00	1.00	0.00	-1.60	2.00	0.00	-1.18	-2.11	-4.18	0.00	-2.45	-0.38	1.00	1.00	1.00	-0.73	1.00
Earnings Before Taxes	-17.4%	18.00	21.00	38.00	10.00	23.00	12.00	49.00	-18.82	-2.54	-10.16	3.00	-5.30	-3.47	-12.23	-22.07	8.00	30.00	28.00	20.00	9.00	41.00
EBT Margin	-7.2%	0.12*	0.13*	0.11*	0.13*	0.09*	0.06*	0.03*	-0.04*	-0.02*	-0.03*	-0.03*	-0.07*	-0.05*	0.01*	0.06*	0.12*	0.12*	0.13*	0.14*	0.15*	0.17*
Net Income	-20.6%	16.00	20.00	37.00	12.00	22.00	10.00	49.00	-17.22	-4.07	-10.18	4.00	-3.19	1.00	-12.27	-19.62	8.00	29.00	27.00	19.00	10.00	40.00
Net Income Margin	-7.9%	0.11*	0.12*	0.11*	0.13*	0.09*	0.05*	0.03*	-0.04*	-0.02*	-0.01*	-0.02*	-0.06*	-0.04*	0.01*	0.06*	0.11*	0.12*	0.13*	0.13*	0.15*	0.16*
Free Cashflow	-59.6%	36.00	90.00	20.00	86.00	37.00	90.00	16.00	68.00	45.00	83.00	10.00	73.00	19.00	89.00	10.00	65.00	34.00	109	11.00	78.00	92.00

Balance Sheet

(In Millions)

(*) denotes actual numbers (not divided by Millions)
Balance Sheet																					(In Millions)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Assets	0.1%	4,219	4,217	4,185	4,157	4,164	4,201	4,217	4,243	4,282	4,112	4,123	4,152	4,151	4,011	4,550	4,665	3,932	3,925	4,156	4,192	4,196
Cash Equivalents	-2.1%	347	354	315	273	264	387	359	430	424	582	541	567	527	373	873	1,009	234	294	375	243	205
Goodwill	0.0%	492	491	491	491	491	492	492	492	491	492	492	491	491	492	491	491	491	491	492	492	491
Liabilities	0.2%	2,488	2,483	2,473	2,480	2,481	2,527	2,551	2,581	2,598	2,398	2,390	2,420	2,419	2,267	2,794	2,815	1,984	1,985	2,208	2,225	2,205
Long Term Debt	0.0%	974	974	974	974	974	974	974	973	973	973	973	973	973	973	973	973	798	606	607	608	1,046
Shares Outstanding	0.2%	263	263	263	264	268	270	272	274	277	278	278	278	284	281	288	293	298	298	298	298	297
Float	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Cashflow (Last 12 Months)

(In Thousands)

(*) denotes actual numbers (not divided by Thousands)
Cashflow (Quarterly)																					(In Thousands)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Cashflow From Operations	-59.6%	36,443	90,142	19,543	86,363	37,188	90,307	15,985	67,693	45,459	83,298	10,329	73,400	18,740	89,130	9,649	64,774	34,218	109,093	11,378	77,902	91,619
Share Based Compensation	6.1%	5,294	4,989	5,369	4,374	5,412	5,374	5,765	4,460	4,844	5,378	5,304	4,734	5,321	5,504	8,779	5,891	5,465	3,647	6,326	5,419	4,721
Cashflow From Investing	27.2%	-37,961	-52,123	15,375	-2,631	-141,775	-32,471	-21,669	-34,976	-141,982	-22,315	-27,633	-20,812	-29,764	-33,641	-39,103	-40,610	-60,588	90,980	130,515	-11,163	-73,400
Cashflow From Financing	3.1%	-12,479	-12,874	-19,941	-17,579	-20,550	-30,780	-64,224	-24,688	-49,806	-18,586	-11,523	-13,130	151,010	-559,384	-84,562	750,103	-32,352	-283,132	-33,191	-32,876	-31,507
Dividend Payments	-39.9%	6,331	10,534	10,514	9,743	6,377	10,631	10,758	10,819	5,979	11,029	10,505	1,050	-4,519	1,050	31,668	32,651	29,648	32,180	32,248	31,942	29,643
Buy Backs	-	-	-	7,411	5,694	7,631	18,105	52,439	12,001	36,661	6,510	-	3,533	21,763	7,345	51,939	62,666	-	-	-	-	-

ESBA Income Statement

2023-12-31

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Rental revenue	$ 597,319	$ 591,048	$ 559,690
Observatory revenue	129,366	105,978	41,474
Lease termination fees	0	20,032	16,230
Third-party management and other fees	1,351	1,361	1,219
Other revenue and fees	11,536	8,622	5,481
Total revenues	739,572	727,041	624,094
Operating expenses:
Property operating expenses	167,324	157,935	126,986
Ground rent expenses	9,326	9,326	9,326
General and administrative expenses	63,939	61,765	55,947
Observatory expenses	35,265	31,036	23,206
Real estate taxes	127,101	123,057	119,967
Impairment charges	0	0	7,723
Depreciation and amortization	189,911	216,894	201,806
Total operating expenses	592,866	600,013	544,961
Total operating income	146,706	127,028	79,133
Other income (expense):
Interest income	15,136	4,948	704
Interest expense	(101,484)	(101,206)	(94,394)
Gain on sale/disposition of properties	26,764	33,988	0
Loss on early extinguishment of debt	0	0	(214)
Income (loss) before income taxes	87,122	64,758	(14,771)
Income tax (expense) benefit	(2,715)	(1,546)	1,734
Net income (loss)	84,407	63,212	(13,037)
Private perpetual preferred unit distributions	(4,201)	(4,201)	(4,201)
Net (income) loss attributable to non-controlling interest in other partnerships	(68)	243	17
Net income (loss) attributable to common unitholders	$ 80,138	$ 59,254	$ (17,221)
Total weighted average units:
Basic (in shares)	263,226	268,337	277,420
Diluted (in shares)	265,633	269,948	277,420
Earnings (loss) per unit:
Basic (in dollars per share)	$ 0.30	$ 0.22	$ (0.06)
Diluted (in dollars per share)	$ 0.30	$ 0.22	$ (0.06)

ESBA Balance Sheet

2023-12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Commercial real estate properties, at cost:
Land	$ 366,357	$ 365,540
Development costs	8,178	8,166
Building and improvements	3,280,657	3,177,743
Commercial real estate properties, at cost, gross	3,655,192	3,551,449
Less: accumulated depreciation	(1,250,062)	(1,137,267)
Commercial real estate properties, net	2,405,130	2,414,182
Assets held for sale	0	35,538
Cash and cash equivalents	346,620	264,434
Restricted cash	60,336	50,244
Tenant and other receivables	39,836	24,102
Deferred rent receivables	255,628	240,188
Prepaid expenses and other assets	98,167	98,114
Deferred costs, net	172,457	187,570
Acquired below-market ground leases, net	321,241	329,073
Right of use assets	28,439	28,670
Goodwill	491,479	491,479
Total assets	4,219,333	4,163,594
Liabilities:
Mortgage notes payable, net	877,388	883,705
Senior unsecured notes, net	973,872	973,659
Unsecured term loan facilities, net	389,286	388,773
Unsecured revolving credit facility	0	0
Accounts payable and accrued expenses	99,756	80,729
Acquired below-market leases, net	13,750	17,849
Ground lease liabilities	28,439	28,670
Deferred revenue and other liabilities	70,298	76,091
Tenants’ security deposits	35,499	25,084
Liabilities related to assets held for sale	0	5,943
Total liabilities	2,488,288	2,480,503
Commitments and contingencies
Capital:
Total Empire State Realty OP, L.P.'s capital	1,715,638	1,667,625
Non-controlling interest in other partnerships	15,407	15,466
Total capital	1,731,045	1,683,091
Total liabilities and capital	4,219,333	4,163,594
Private Perpetual Preferred Units, Series 2019
Capital:
Private perpetual preferred units	21,936	21,936
Private Perpetual Preferred Units, Series 2014
Capital:
Private perpetual preferred units	8,004	8,004
Series PR Operating Partnership Units
Capital:
ESRT partners' capital (2,709 and 2,710 general partner operating partnership units and 160,337 and 158,420 limited partner operating partnership units outstanding at December 31, 2023 and 2022, respectively)	985,518	954,375
Limited partner operating partnership units	694,512	681,827
Series ES Operating Partnership Units Limited Partners
Capital:
Limited partner operating partnership units	4,427	1,391
Series 60 Operating Partnership Units Limited Partners
Capital:
Limited partner operating partnership units	779	16
Series 250 Operating Partnership Units Limited Partners
Capital:
Limited partner operating partnership units	$ 462	$ 76

About Empire State Realty OP LP

Empire State Realty OP, L.P. operates as a subsidiary of Empire State Realty Trust, Inc.

CEO	Mr. Anthony E. Malkin
WEBSITE	empirestaterealtytrust.com
INDUSTRY	REIT Mortgage
EMPLOYEES	667

Empire State Realty OP LP Frequently Asked Questions

What is the ticker symbol for Empire State Realty OP LP? What does ESBA stand for in stocks?

ESBA is the stock ticker symbol of Empire State Realty OP LP. Every public company that trades on a stock exchange gets a ticker symbol.

What is the market capital of Empire State Realty OP LP (ESBA)?

As of Fri Apr 26 2024, market cap of Empire State Realty OP LP is 2.37 Billion. The market capitalization is calculated by multiplying the stock price with the number of shares outstanding.

What is the fair value of ESBA stock?

You can check ESBA's fair value in chart for subscribers.

What is the fair value of ESBA stock?

You can check ESBA's fair value in chart for subscribers. The fair value of Empire State Realty OP LP is provided for various growth and macro-economic scenarios from very pessimiatic to very optimistic assumptions. These fair values are estimates from Grufity's Fair Value model based on company's past performance. However, past performance of Empire State Realty OP LP is no guarantee of future performance. These fairvalue estimates should only be used as one of the inputs in your stock analysis. We provide model's historical fair value estimates for ESBA so that you know how good or bad the model has been in the past so you can discard it if needed. There are others that provide fair values of stocks such as wallmine, finbox, gurufocus and finviz. Most provide point in time estimates. We provide a history of our models fair value estimates so that you can get a sense of it's usefulness. Otherwise this data point is of little use.

Is Empire State Realty OP LP a good stock to buy?

The fair value guage provides a quick view whether ESBA is over valued or under valued. Whether Empire State Realty OP LP is cheap or expensive depends on the assumptions which impact Empire State Realty OP LP's fair value. We provide several scenarios of inflation and growth to encompass these range of assumptions for ESBA.

What is Empire State Realty OP LP's Price to Earnings (PE) and Price to sales (PS) ratio?

As of Fri Apr 26 2024, ESBA's PE ratio (Price to Earnings) is 28.1 and Price to Sales (PS) ratio is 3.21. The price to earnings and price to sales ratio are two most important valuation metrics for any company. PE ratio tell us the number of years of earnings investors are ready to pay for owning the company. Historically, S&P500 price to earnings ratio has fallen below 12 during periods of gloom and gone past 30 during periods of euphoria. ESBA PE ratio will change depending on the future growth rate expectations of investors.