ESBA
Bargain BinEmpire State Realty OP, L.P. · Real Estate · United States · $1.3B cap · $47K/day traded
$5.11 +4.1% · close 12 Nov · scored 13 Nov
Score up 5.1 since 12 Nov: Momentum up 6 after a 4% price rise.
Bargain Bin: Looks like a bargain; the quality and the trend say why it is in the bin.
As of 13 Nov 2026, the MoatMap Score for Empire State Realty OP, L.P. (ESBA) is 48/100, ranked against 25,000+ stocks in 38 markets (Quality 49, Value 56, Momentum 36, each scored against its sector).
Does the score work? Each tenth of the ranking, tracked monthly. See the record →
ABOUT EMPIRE STATE REALTY OP, L.P.
Read
Empire State Realty OP, L.P. operates as a subsidiary of Empire State Realty Trust, Inc.
FINANCIAL SUMMARY (USD)
| Year | 2022 | 2023 | 2024 | 2025 | CAGR | TTM |
|---|---|---|---|---|---|---|
| Revenue | 727.0M | 739.6M | 767.9M | 768.3M | 1.9% | 782.8M |
| EPS | 3.71 | 5.06 | 4.89 | 4.45 | 6.2% | — |
| Shares | 16.1M | 16.1M | 16.1M | 16.1M | 0.0% | 16.1M |
| Debt | 2.3B | 2.3B | 2.5B | 2.4B | 2.1% | 2.2B |
| Equity | 0 | 0 | -15.4M | 0 | — | — |
| Op CF | 211.2M | 232.5M | 260.9M | 249.1M | 5.7% | 227.6M |
| Inv CF | -230.9M | -77.3M | -397.1M | -550.0M | — | — |
| Fin CF | -140.2M | -62.9M | 158.6M | 38.2M | — | — |
35% above its 52-week low and back above a rising 50-day average since 2 Nov 2026.
The Momentum score still reads 36: it weighs six months of price and earnings revisions, so it trails a turn like this.
Swung more than 63% of stocks we rank over the past year (volatility 51% a year).
How this is worked out
The Price check reads only the chart, the price side of the Momentum score in words; it is not the MoatMap Score.
- Still falling: It set a new 52-week low in the last two weeks, after a deep fall.
- Finding a floor: It fell hard, but has set no new low for more than two weeks.
- Turning up (this stock): It has climbed off its low and is back above a rising 50-day average.
- In an uptrend: It is near its 52-week high and above its 200-day average.
- No clear trend: None of the above: no recent deep fall and no steady climb.
- No read yet: Not enough price history yet: it needs a year of trading.
In past US falls, waiting for Turning up cut the chance of another 20% drop from 42% to 33%. Returns were no better, and 33% of turns failed.
The exact rules
Still falling is a new 52-week low in the last two weeks, at least 25% below the high, with the low set after the high. Finding a floor is the same fall with no new low in the last two weeks. Turning up is 20 or more trading days without a new low, at least 10% off it, and back above a rising 50-day average. In an uptrend is above the 200-day average, with the 50-day average above the 200-day, and within 15% of the high. No clear trend is everything else. No read yet is under 252 trading days of history, or missing data. A new state shows once it has held for three trading days.
In 2,112 US drawdowns since 2001, buying while the price was still falling was followed by a further 20% drop 42% of the time. Waiting for a turn (the Turning up rule above) cut that to 33%, at about 7% higher prices and with no better returns. Part of that cut is simply not buying: 13% of falls never turned, and waiting kept those out. Among turns that were bought, 38% still fell another 20%, and 33% of turns were followed by a new low within six months. The benefit was largest in crashes such as 2008 and 2020.
What it measures: how much the price moved day to day over the past year, scaled to a yearly figure (annualised volatility) and ranked against every stock we cover. Very calm under 20% a year, Calm 20 to 30%, Average 30 to 40%, Bumpy 40 to 55%, Very bumpy above that.
What we found: across about 13,500 stocks in 34 markets (2002 to 2025), past swings were a good guide to the next year's, and bumpier stocks fell further. How much further changed too much between eras to put a number on it.
Calm is not safe: a calm stock can still slide steadily.
Rules fixed before any data was fetched. Describes the chart, not a recommendation.
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Real Estate, ranked by industry match, size, and score similarity. Cross-listings of ESBA are excluded.
| Ticker | Company | Mkt Cap | Score |
|---|---|---|---|
| ESBA | Empire State Realty OP, L.P.(you) | $1.3B | 48 |
| PDM | Piedmont Realty Trust, Inc. | $1.2B | 48 |
| DEA | Easterly Government Properties, Inc. | $1.1B | 63 |
| BDN | Brandywine Realty Trust | $510M | 47 |
| KRC | Kilroy Realty Corporation | $4.4B | 51 |
| HPP | Hudson Pacific Properties, Inc. | $597M | 35 |
| PSTL | Postal Realty Trust, Inc. | $872M | 70 |
| SLG | SL Green Realty Corp. | $3.8B | 36 |
| DEI | Douglas Emmett, Inc. | $2.0B | 23 |
| VNO | Vornado Realty Trust | $6.9B | 45 |
Peer medians: ROE 4.3% · P/E 23.9x · Gross margin 65.7%
Company Deep Dive
A 10,000-word report: the business and its segments, what management promised on earnings calls and whether it delivered, the competition, and how things could turn out.