Empire State Realty Trust Inc Class A

ESRT: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$2.20	Hzsm	Xrpykqhns

Remote Work Dynamic a Structural Headwind; Relaunching Empire State Realty Trust With a $10.50 FVE

Suryansh Sharma

May 27, 2022

We are relaunching the coverage of Empire State Realty after taking a fresh look at it. We assign a no-moat rating, a negative moat trend, and a standard capital allocation rating to the company. We are decreasing the fair value estimate for Empire State Realty to $10.50 per share from $11.30 per share.

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