ESBA vs PGRE

For growth investors, Paramount Group, Inc.

(PGRE) is the stronger pick with 2. 0% revenue growth year-over-year, versus 0. 7% for Empire State Realty OP, L. P. (ESBA). Empire State Realty OP, L. P. (ESBA) offers the better valuation at 30. 6x trailing P/E, making it the more compelling value choice. Analysts rate Paramount Group, Inc. (PGRE) a "Hold" — based on 13 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

Over the past 5 years, Paramount Group, Inc.

(PGRE) delivered a total return of -30. 5%, compared to -46. 4% for Empire State Realty OP, L. P. (ESBA). Over 10 years, the gap is even starker: PGRE returned -46. 2% versus ESBA's -59. 2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Paramount Group, Inc.

(PGRE) is the lower-risk stock at 0. 31β versus Empire State Realty OP, L. P. 's 0. 97β — meaning ESBA is approximately 211% more volatile than PGRE relative to the S&P 500. On balance sheet safety, Paramount Group, Inc. (PGRE) carries a lower debt/equity ratio of 92% versus 134% for Empire State Realty OP, L. P. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Paramount Group, Inc.

(PGRE) is pulling ahead at 2. 0% versus 0. 7% for Empire State Realty OP, L. P. (ESBA). On earnings-per-share growth, the picture is similar: Paramount Group, Inc. grew EPS 82. 5% year-over-year, compared to -35. 7% for Empire State Realty OP, L. P.. Over a 3-year CAGR, ESBA leads at 2. 8% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Empire State Realty OP, L.

P. (ESBA) is the more profitable company, earning 6. 2% net margin versus -6. 1% for Paramount Group, Inc. — meaning it keeps 6. 2% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: PGRE leads at 19. 6% versus 17. 7% for ESBA. At the gross margin level — before operating expenses — PGRE leads at 60. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

All stocks in this comparison pay dividends.

Empire State Realty OP, L. P. (ESBA) offers the highest yield at 1. 6%, versus 1. 6% for Paramount Group, Inc. (PGRE).

For long-horizon retirement investors, Paramount Group, Inc.

(PGRE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 31), 1. 6% yield). Both have compounded well over 10 years (PGRE: -46. 2%, ESBA: -59. 2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.