Empire State Realty Trust Inc's Business Segments
Empire State Realty Trust Inc's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Revenue Share by Reportable Segment - Q1 FY2026
- Real Estate,90.1%
- Observatory,9.7%
Revenue by Reportable Segment - Q1 FY2026
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Real Estate, | $ 172 | 90.1% |
| Observatory, | $ 19 | 9.7% |
Description of Empire State Realty Trust Inc
History:
Empire State Realty Trust Inc. was formed in 2010 as a successor to Malkin Holdings LLC, a family-owned business that owned multiple properties including the Empire State Building. In October 2013, the company went public in an initial public offering and raised $1.16 billion.
Properties:
Empire State Realty Trust Inc's portfolio consists of 14 properties across Manhattan, Westchester County, Connecticut, and New Jersey. The bulk of the portfolio is comprised of Class A office space, with some retail and hospitality assets as well. The properties have an average occupancy rate of approximately 94.8%.
The most iconic property in its portfolio is the Empire State Building, a 102-story Art Deco skyscraper that stands at 1,454 feet tall. The building has8 million square feet of rentable space, including office, retail, and observation deck space.
In addition to the Empire State Building, other notable properties owned by Empire State Realty Trust Inc. include One Grand Central Place, an office building located above Grand Central Terminal, and 250 West 57th Street, a mixed-use tower with luxury residential and retail space.
Management:
Empire State Realty Trust Inc.'s management team is led by CEO and Chairman Anthony E. Malkin, who has been with the company since 1989. Other key executives include John Kessler, the President, and COO, and Christina Chiu, the Chief Financial Officer.
Financials:
Empire State Realty Trust Inc. reported revenue of $638.5 million in 2020, a 12.9% decrease from the previous year, primarily due to the impact of the COVID-19 pandemic on its tenants. The company's net income was $26.9 million, compared to $129.3 million in 2019.
As a REIT, Empire State Realty Trust Inc. is required to distribute at least 90% of its taxable income to shareholders as dividends. The company's current dividend yield is approximately6%.
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