Citi Decreases Empire State Realty Trust (ESRT) Modeled FFO, Reiterates Neutral

May 19, 2022 1:20 PM EDT
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Price: $7.23 -1.23%

Rating Summary:
    3 Buy, 6 Hold, 3 Sell

Rating Trend: Down Down

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    Up: 12 | Down: 18 | New: 23
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Citigroup analyst Michael Bilerman maintains Neutral on Empire State Realty Trust (NYSE: ESRT) and PT of $10.00.

The analyst comments "We are updating our model for 1Q earnings and updated operating assumptions. As a result, 2022E core FFO decreases to 77c from 81c; 2023E core FFO decreases to 88c from 93c."

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