Empire State Realty Trust Q4 2023 FFO $0.25 Beats $0.21 Estimate, Sales $151.17M Miss $186.47M Estimate
Portfolio Pulse from Benzinga Newsdesk
Empire State Realty Trust (ESRT) reported Q4 2023 FFO of $0.25 per share, surpassing the $0.21 estimate. However, its sales of $151.17M fell short of the $186.47M estimate, marking an 18.93% miss but a 3.61% increase from the previous year.
February 20, 2024 | 9:15 pm
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NEUTRAL IMPACT
Empire State Realty Trust reported higher-than-expected Q4 FFO but missed sales estimates, showing mixed financial performance.
The positive earnings surprise could support investor confidence and potentially lift ESRT's stock price in the short term. However, the significant miss in sales forecasts may raise concerns about revenue growth and could counterbalance the positive impact of the earnings beat. Given these mixed signals, a neutral short-term price direction is anticipated.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100