OGCP
Empire State Realty OP, L.P.
REIT - Office
Market Cap$1.46B
5Y Perf.-23.4%
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Stock Comparison
OGCP vs PGRE
Revenue, margins, valuation, and 5-year total return — side by side.
PGRE
Paramount Group, Inc.
REIT - Office
Market Cap$1.46B
5Y Perf.-14.5%
OGCP vs PGRE — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | OGCP | PGRE |
|---|---|---|
| Industry | REIT - Office | REIT - Office |
| Market Cap | $1.46B | $1.46B |
| Revenue (TTM) | $778M | $723M |
| Net Income (TTM) | $40M | $-97M |
| Gross Margin | -10.3% | 57.2% |
| Operating Margin | 17.9% | 14.7% |
| Forward P/E | 30.3x | — |
| Total Debt | $2.44B | $3.68B |
| Cash & Equiv. | $167M | $375M |
OGCP vs PGRE — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
OGCP
PGRE
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Empire State Realty… (OGCP) | 100 | 76.6 | -23.4% |
| Paramount Group, In… (PGRE) | 100 | 85.5 | -14.5% |
Price return only. Dividends and distributions are not included.
Quick Verdict: OGCP vs PGRE
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: PGRE leads in 4 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Empire State Realty OP, L.P. is the stronger pick specifically for profitability and margin quality and dividend income and shareholder returns. As sector peers, any of these can serve as alternatives in the same allocation.
OGCP
Empire State Realty OP, L.P.
The Real Estate Income Play
OGCP is the clearest fit if your priority is income & stability.
- Dividend streak 2 yrs, beta 0.89, yield 1.6%
- 5.1% margin vs PGRE's -13.5%
- 1.6% yield, 2-year raise streak, vs PGRE's 1.6%
Best for: income & stability
PGRE
Paramount Group, Inc.
The Real Estate Income Play
PGRE carries the broadest edge in this set and is the clearest fit for growth exposure and long-term compounding.
- Rev growth 2.0%, EPS growth 82.5%, 3Y rev CAGR 1.4%
- -46.2% 10Y total return vs OGCP's -59.3%
- Lower volatility, beta 0.31, Low D/E 91.7%, current ratio 7.76x
Best for: growth exposure and long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | PGRE | 2.0% FFO/revenue growth vs OGCP's 0.7% |
| Value | PGRE | Better valuation composite |
| Quality / Margins | OGCP | 5.1% margin vs PGRE's -13.5% |
| Stability / Safety | PGRE | Beta 0.31 vs OGCP's 0.89, lower leverage |
| Dividends | OGCP | 1.6% yield, 2-year raise streak, vs PGRE's 1.6% |
| Momentum (1Y) | PGRE | +38.7% vs OGCP's -21.3% |
| Efficiency (ROA) | OGCP | 0.9% ROA vs PGRE's -1.2%, ROIC 2.6% vs 1.5% |
OGCP vs PGRE — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2024
OGCP vs PGRE — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLOGCPLAGGINGPGRE
PGREParamount Group, Inc.
3leads
OGCPEmpire State Realty O…
3leads
6 Total Categories
CATEGORYLEADERvs PGREMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
OGCP4/6
Valuation MetricsMultiples, price ratios, and targets
PGRE3/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
OGCP7/9
Total Returns1Y, 3Y, 5Y total returns with dividends
PGRE5/5
Risk & VolatilityBeta, volatility, and downside exposure
PGRE2/2
Analyst OutlookRatings, price targets, and dividends
OGCP2/2
Income & Cash Flow (Last 12 Months)
OGCP leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
OGCP and PGRE operate at a comparable scale, with $778M and $723M in trailing revenue. OGCP is the more profitable business, keeping 5.1% of every revenue dollar as net income compared to PGRE's -13.5%. On growth, OGCP holds the edge at +5.7% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | OGCPEmpire State Real… | PGREParamount Group, … |
|---|---|---|
| RevenueTrailing 12 months | $778M | $723M |
| EBITDAEarnings before interest/tax | $336M | $342M |
| Net IncomeAfter-tax profit | $40M | -$97M |
| Free Cash FlowCash after capex | $78M | $165M |
| Gross MarginGross profit ÷ Revenue | -10.3% | +57.2% |
| Operating MarginEBIT ÷ Revenue | +17.9% | +14.7% |
| Net MarginNet income ÷ Revenue | +5.1% | -13.5% |
| FCF MarginFCF ÷ Revenue | +10.1% | +22.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | +5.7% | -11.3% |
| EPS Growth (YoY)Latest quarter vs prior year | -90.8% | -191.5% |
OGCP leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
PGRE leads this category, winning 3 of 5 comparable metrics.
Valuation Metrics
On an enterprise value basis, OGCP's 11.3x EV/EBITDA is more attractive than PGRE's 12.3x.
| Metric | OGCPEmpire State Real… | PGREParamount Group, … |
|---|---|---|
| Market CapShares × price | $1.5B | $1.5B |
| Enterprise ValueMkt cap + debt − cash | $3.7B | $4.8B |
| Trailing P/EPrice ÷ TTM EPS | 30.33x | -31.43x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 11.29x | 12.29x |
| Price / SalesMarket cap ÷ Revenue | 1.90x | 1.93x |
| Price / BookPrice ÷ Book value/share | 0.81x | 0.36x |
| Price / FCFMarket cap ÷ FCF | 28.83x | 5.53x |
PGRE leads this category, winning 3 of 5 comparable metrics.
Profitability & Efficiency
OGCP leads this category, winning 7 of 9 comparable metrics.
Profitability & Efficiency
OGCP delivers a 2.2% return on equity — every $100 of shareholder capital generates $2 in annual profit, vs $-2 for PGRE. PGRE carries lower financial leverage with a 0.92x debt-to-equity ratio, signaling a more conservative balance sheet compared to OGCP's 1.34x. On the Piotroski fundamental quality scale (0–9), PGRE scores 7/9 vs OGCP's 6/9, reflecting strong financial health.
| Metric | OGCPEmpire State Real… | PGREParamount Group, … |
|---|---|---|
| ROE (TTM)Return on equity | +2.2% | -2.4% |
| ROA (TTM)Return on assets | +0.9% | -1.2% |
| ROICReturn on invested capital | +2.6% | +1.5% |
| ROCEReturn on capital employed | +3.3% | +1.9% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 7 |
| Debt / EquityFinancial leverage | 1.34x | 0.92x |
| Net DebtTotal debt minus cash | $2.3B | $3.3B |
| Cash & Equiv.Liquid assets | $167M | $375M |
| Total DebtShort + long-term debt | $2.4B | $3.7B |
| Interest CoverageEBIT ÷ Interest expense | 1.73x | 0.95x |
OGCP leads this category, winning 7 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
PGRE leads this category, winning 5 of 5 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in PGRE five years ago would be worth $6,949 today (with dividends reinvested), compared to $5,265 for OGCP. Over the past 12 months, PGRE leads with a +38.7% total return vs OGCP's -21.3%. The 3-year compound annual growth rate (CAGR) favors PGRE at 14.9% vs OGCP's 1.7% — a key indicator of consistent wealth creation.
| Metric | OGCPEmpire State Real… | PGREParamount Group, … |
|---|---|---|
| YTD ReturnYear-to-date | -13.3% | — |
| 1-Year ReturnPast 12 months | -21.3% | +38.7% |
| 3-Year ReturnCumulative with dividends | +5.2% | +51.6% |
| 5-Year ReturnCumulative with dividends | -47.4% | -30.5% |
| 10-Year ReturnCumulative with dividends | -59.3% | -46.2% |
| CAGR (3Y)Annualised 3-year return | +1.7% | +14.9% |
PGRE leads this category, winning 5 of 5 comparable metrics.
Risk & Volatility
PGRE leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
PGRE is the less volatile stock with a 0.31 beta — it tends to amplify market swings less than OGCP's 0.89 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. PGRE currently trades 84.1% from its 52-week high vs OGCP's 62.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | OGCPEmpire State Real… | PGREParamount Group, … |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.89x | 0.31x |
| 52-Week HighHighest price in past year | $8.75 | $7.85 |
| 52-Week LowLowest price in past year | $4.71 | $4.48 |
| % of 52W HighCurrent price vs 52-week peak | +62.4% | +84.1% |
| RSI (14)Momentum oscillator 0–100 | 52.2 | 56.8 |
| Avg Volume (50D)Average daily shares traded | 2K | 1.5M |
PGRE leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
OGCP leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
For income investors, OGCP offers the higher dividend yield at 1.61% vs PGRE's 1.59%.
| Metric | OGCPEmpire State Real… | PGREParamount Group, … |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Hold |
| Price TargetConsensus 12-month target | — | $12.00 |
| # AnalystsCovering analysts | — | 13 |
| Dividend YieldAnnual dividend ÷ price | +1.6% | +1.6% |
| Dividend StreakConsecutive years of raises | 2 | 0 |
| Dividend / ShareAnnual DPS | $0.09 | $0.11 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.6% | +0.0% |
OGCP leads this category, winning 2 of 2 comparable metrics.
Key Takeaway
OGCP leads in 3 of 6 categories (Income & Cash Flow, Profitability & Efficiency). PGRE leads in 3 (Valuation Metrics, Total Returns).
Best OverallEmpire State Realty OP, L.P. (OGCP)Leads 3 of 6 categories
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OGCP vs PGRE: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is OGCP or PGRE a better buy right now?
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. (OGCP). Empire State Realty OP, L. P. (OGCP) offers the better valuation at 30. 3x 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.
02Which is the better long-term investment — OGCP or PGRE?
Over the past 5 years, Paramount Group, Inc.
(PGRE) delivered a total return of -30. 5%, compared to -47. 4% for Empire State Realty OP, L. P. (OGCP). Over 10 years, the gap is even starker: PGRE returned -46. 2% versus OGCP's -59. 3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — OGCP or PGRE?
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. 89β — meaning OGCP is approximately 186% 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.
04Which is growing faster — OGCP or PGRE?
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. (OGCP). 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, OGCP 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.
05Which has better profit margins — OGCP or PGRE?
Empire State Realty OP, L.
P. (OGCP) 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 OGCP. 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.
06Which pays a better dividend — OGCP or PGRE?
All stocks in this comparison pay dividends.
Empire State Realty OP, L. P. (OGCP) offers the highest yield at 1. 6%, versus 1. 6% for Paramount Group, Inc. (PGRE).
07Is OGCP or PGRE better for a retirement portfolio?
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%, OGCP: -59. 3%), 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.
08What are the main differences between OGCP and PGRE?
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.
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