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Empire State Realty OP, L.P.(OGCP)Earnings, Financials & Key Ratios
OGCP•AMEX•REIT / Real Estate
$5.28
29.3× P/E·Price updated Jun 27, 2026
AboutEmpire State Realty OP, L.P. operates as a subsidiary of Empire State Realty Trust, Inc.Show more
- Revenue$768M+0.7%
- FFO$242M+2.5%
- FFO/Share0.90+2.1%
- FFO Payout9.79%-0.3%
- FFO per Share0.90+2.1%
- NOI Margin1.79%-96.7%
- FFO Margin31.55%+1.8%
- ROE2.64%-10.2%
- ROA1.06%-10.4%
OGCP Price & Volume
Empire State Realty OP, L.P. (OGCP) stock price & volume — 10-year historical chart
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Observatory Revenue Offsets Manhattan Office Leasing Stagnation
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Mixed
Profitability:Strained
Financial Position:Healthy
Cash Flow:Mixed
Primary Risk:NYC office market volatility
"Empire State Realty OP faces a bifurcated outlook where the cyclical strength of the Observatory segment attempts to mitigate persistent weakness in its core Manhattan office portfolio. While the firm maintains a disciplined debt-to-equity ratio between 1.16 and 1.42, the high cost of tenant improvements—often exceeding $40 million per quarter—continues to compress distributable cash flow. Investors should monitor the company's strategic pivot toward multi-family assets as a potential catalyst to offset the volatility inherent in its legacy commercial real estate holdings."
Verdict Logic
while the dividend payout ratio remains conservative at approximately 0.10 relative to AFFO, the high capital intensity required to maintain occupancy in a competitive market, evidenced by quarterly capital outlays often exceeding $40 million, warrants a cautious approach.
OGCP Growth Metrics
Empire State Realty OP, L.P. (OGCP) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years1.57%
5 Years4.75%
3 Years2.81%
TTM1.47%
Profit CAGR
10 Years3.22%
5 Years-
3 Years5.41%
TTM-28.23%
EPS CAGR
10 Years-4.66%
5 Years-
3 Years-6.47%
TTM-41.22%
Return on Capital
10 Years3.85%
5 Years3.46%
3 Years3.88%
Last Year3.33%
OGCP Recent Earnings
Empire State Realty OP, L.P. (OGCP) EPS & revenue vs analyst estimates — last 4 quarters
Q2 2026Latest
May 7, 2026Metric
Actual
Est
EPS
$0.01
—
Rev
$190M
—
Q2 2026
May 5, 2026Metric
Actual
Est
EPS
$0.01
—
Rev
$190M
—
Q1 2026
Feb 17, 2026Metric
Actual
Est
EPS
$0.12
—
Rev
$199M
—
Q4 2025
Nov 6, 2025Metric
Actual
Est
EPS
$0.06
—
Rev
$198M
—
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 7, 2026 | $0.01 | $190M |
| Q2 2026 | May 5, 2026 | $0.01 | $190M |
| Q1 2026 | Feb 17, 2026 | $0.12 | $199M |
| Q4 2025 | Nov 6, 2025 | $0.06 | $198M |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Empire State Realty OP, L.P. (OGCP)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $5.28 | $1.41B | 29.33 | 0.67% | 6.2% | 2.64% | 1.66% | |
| $5.37 | $920.74M | 29.83 | 0.67% | 5.09% | 2.19% | — | |
| $52.16 | $3.77B | -44.20 | 41.96% | -15.25% | -3.47% | — | |
| $39.11 | $7.36B | 9.31 | 1.27% | 43.99% | 11.77% | — | |
| $6.60 | $1.46B | -31.43 | 1.97% | -13.47% | -2.39% | — | |
| $67.40 | $10.75B | 38.74 | 2.19% | 9.09% | 4.13% | — |
Compare OGCP vs Peers
Empire State Realty OP, L.P. (OGCP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
OGCP SEC Filings & Documents
Empire State Realty OP, L.P. (OGCP) SEC filings — annual & quarterly reports (10-K, 10-Q)
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OGCP Frequently Asked Questions
Empire State Realty OP, L.P. (OGCP) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Empire State Realty OP, L.P.'s revenue?
Empire State Realty OP, L.P. (OGCP) reported $778.1M in revenue for fiscal year 2025. This represents a 235% increase from $232.3M in 2009.
How fast is Empire State Realty OP, L.P. growing?
Empire State Realty OP, L.P. (OGCP) grew revenue by 0.7% over the past year. Growth has been modest.
Is OGCP profitable?
Yes, Empire State Realty OP, L.P. (OGCP) is profitable, generating $39.6M in net income for fiscal year 2025 (6.2% net margin).
Dividend & Returns
Does OGCP pay dividends?
Yes, Empire State Realty OP, L.P. (OGCP) pays a dividend with a yield of 1.66%. This makes it attractive for income-focused investors.
What is OGCP's return on equity?
Empire State Realty OP, L.P. (OGCP) has a return on equity (ROE) of 2.6%. This is below average, suggesting room for improvement.
Industry Metrics
What is Empire State Realty OP, L.P.'s FFO?
Empire State Realty OP, L.P. (OGCP) generated Funds From Operations (FFO) of $235.8M in the trailing twelve months. FFO is the primary profitability metric for REITs.