ESRT Forecast


Bullish Case: Recent strong earnings, robust leasing growth, and significant green financing bolster ESRT’s medium to long-term outlook. The positive effects of upgraded properties and high-quality tenant retention could propel prices upward, especially given recent strategic initiatives.


Bearish Case: Persistent flat price action, coupled with high volatility and negative AI price forecasts, project limited short-term growth potential. Weak price-to-book ratio and potential further analyst downgrades could maintain downward pressure on the stock.


Potential Outcomes:

1. Continued flat price action (45%) - driven by stagnant market conditions.

2. Moderate upside from strategic initiatives and legislative tailwinds (30%).

3. Downside from persistent headwinds and economic downturn (25%). Estimated probabilities based on both recent data and historical trends.


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June 30, 2024


Empire State Realty Forecast

ESRT      Empire State Realty











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