Empire State Realty Posts Profit In Q4 - Quick Facts

(RTTNews) - Empire State Realty Trust Inc. (ESRT), owner of the iconic Empire State Building in New York City, reported fourth-quarter net income attributable to the company of $75.25 million or $0.79 per share.

The company completed its initial public offering or IPO and related formation transactions on October 7, 2013, and the latest quarter's results reflect the portion of the period during which the company operated as a publicly traded company.

Excluding the impact of acquisition costs, severance costs, retirement equity compensation costs, and gains on the consolidation of non-controlled entities, core FFO for the quarter was $41.40 million or $0.17 per share. On average, three analysts polled by Thomson Reuters expected the company to earn $0.16 per share for the quarter.

Total revenues for the quarter were $127.58 million. Analysts had a consensus revenue estimate of $87.41 million.

The company's total portfolio was 86.1 percent occupied, up 40 basis points from September 30, 2013. This includes signed leases not commenced, the total portfolio was 87.7 percent leased at December 31, 2013.