Empire State Realty Trust Q1 2024 FFO $0.21 Beats $0.19 Estimate, Sales $153.882M Miss $174.385M Estimate
Portfolio Pulse from Benzinga Newsdesk
Empire State Realty Trust (ESRT) reported Q1 2024 FFO of $0.21 per share, surpassing the $0.19 estimate, marking a 31.25% increase from last year. However, their sales of $153.882M fell short of the $174.385M estimate, despite being a 9.84% increase from the previous year.
April 24, 2024 | 8:29 pm
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Empire State Realty Trust's Q1 2024 FFO exceeded expectations at $0.21/share, a 31.25% YOY increase, but sales missed estimates at $153.882M, a 9.84% YOY increase.
The positive earnings beat with a significant year-over-year increase suggests strong operational performance, which could bolster investor confidence. However, the miss on sales forecasts may temper enthusiasm, leading to a neutral short-term impact on the stock price as investors weigh the mixed results.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100