Add as a preferred source on GoogleEmpire State Realty Trust Sets 2026 Core FFO Guidance at $0.77 to $0.80
The trust sold 1359 Broadway for $217.5 million and repurchased $85.8 million in shares at an average price of $4.56.
Empire State Realty Trust set 2026 Core funds from operations (FFO) guidance at $0.77 to $0.80 per share as it considers how to redeploy proceeds from its $217.5 million sale of 1359 Broadway.
The trust repurchased $85.8 million in shares at an average price of $4.56 per share. Share repurchases remain part of its strategy, while debt repayment and other redeployment opportunities are also under consideration.
At the end of the third quarter, the commercial portfolio was 95.6% leased. The Manhattan office portfolio had a 9.9% mark-to-market rent spread.
Chairman and CEO Anthony Malkin said the Manhattan office portfolio recorded positive mark-to-market rent spreads for a 21st consecutive quarter.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.