Empire State Realty Trust (ESRT) Operating Expenses (2012 - 2026)
Empire State Realty Trust (ESRT) posted Operating Expenses of $160.9 million for Q1 2026, up 156.63% sequentially from -$284.1 million in Q4 2025, and up 257.01% YoY from $45.1 million in Q1 2025.
Empire State Realty Trust (ESRT) Operating Expenses (2012 - 2026) Analysis & Trends
Empire State Realty Trust has reported Operating Expenses for 15 years, with the latest figure at $160.9 million in Q1 2026.
- Quarterly Operating Expenses rose 257.01% year-over-year to $160.9 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $79.9 million (up 155.91% YoY) and the FY2025 annual result came in at $184.7 million, up 3.09% from the prior year.
- Operating Expenses advanced to $160.9 million in Q1 2026 per ESRT's latest filing, from -$284.1 million in the prior quarter.
- Over five years, Operating Expenses peaked at $160.9 million in Q1 2026 and troughed at -$284.1 million in Q4 2025.
- A 5-year average of $30.7 million and a median of $42.8 million in 2023 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2023 and 2024: Operating Expenses jumped 289.43% in 2023, then plunged 281.04% in 2024.
- Over 5 years, Operating Expenses stood at $39.1 million in 2022, then surged by 289.43% to $152.1 million in 2023, then slumped by 281.04% to -$275.4 million in 2024, then slipped by 3.16% to -$284.1 million in 2025, then jumped by 156.63% to $160.9 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $160.9 million, -$284.1 million, and $47.0 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vici Properties | 29.04 Bn | 28.60 Bn | 1.05 Bn | 315.61 Mn |
| 2 | W. P. Carey | 16.30 Bn | 16.30 Bn | 441.59 Mn | 297.54 Mn |
| 3 | Broadstone Net Lease | 4.04 Bn | 4.03 Bn | - | 70.36 Mn |
| 4 | Global Net Lease | 1.92 Bn | 1.77 Bn | - | 80.99 Mn |
| 5 | American Assets Trust | 1.39 Bn | 1.39 Bn | - | 83.18 Mn |
| 6 | Safehold | 1.10 Bn | -2.59 Bn | 113.88 Mn | 86.39 Mn |
| 7 | Cim | 1.05 Bn | 2.41 Bn | - | 85.94 Mn |
| 8 | Empire State Realty Trust | 821.84 Mn | 821.84 Mn | - | 335.61 Mn |
| 9 | CTO Realty Growth | 768.00 Mn | 768.00 Mn | 32.71 Mn | 32.69 Mn |
| 10 | JBG SMITH Properties | 721.56 Mn | 721.56 Mn | - | 125.52 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 335.61 Mn |
| Mar 31, 2026 | 160.87 Mn |
| Dec 31, 2025 | -284.09 Mn |
| Sep 30, 2025 | 46.96 Mn |
| Jun 30, 2025 | 156.13 Mn |
| Mar 31, 2025 | 45.06 Mn |
| Dec 31, 2024 | -275.38 Mn |
| Sep 30, 2024 | 45.95 Mn |
| Jun 30, 2024 | 41.52 Mn |
| Mar 31, 2024 | 45.06 Mn |
| Dec 31, 2023 | 152.11 Mn |
| Sep 30, 2023 | 42.82 Mn |
| Jun 30, 2023 | 39.52 Mn |
| Mar 31, 2023 | 147.13 Mn |
| Dec 31, 2022 | 39.06 Mn |
| Sep 30, 2022 | 42.80 Mn |
| Jun 30, 2022 | 37.43 Mn |
| Mar 31, 2022 | 38.64 Mn |
| Dec 31, 2021 | 452.53 Mn |
| Sep 30, 2021 | 33.36 Mn |