Empire State Realty OP, L.P.
ESBAReal Estate · REIT - Office · Stock · quarterly payer
Forward Yield
3.04%
Annual Dividend
$0.14
Payout Ratio
700%
5-Yr Growth
-19.7%
Ex-Date
Sep 15, 2026
Frequency
Quarterly
Key facts about ESBA's dividend
Data as of · Source: SmarterDividends data
- As of Oct 18, 2026, Empire State Realty OP, L.P. (ESBA) has a forward dividend yield of 3.04%, based on an annual dividend of $0.14 per share and a share price of $4.60.
- As of Oct 18, 2026, ESBA's dividend safety grade from SmarterDividends is D (40 out of 100), which rates the dividend as unsafe.
- ESBA last cut its regular dividend in 2021.
- ESBA's most recent ex-dividend date was Sep 15, 2026, for a dividend of $0.0350 per share.
- ESBA's dividend has shrunk at an average rate of 19.7% a year over the past five years.
- As of Oct 18, 2026, ESBA's 3.04% yield is 120% above its five-year average yield of 1.38%.
- As of Oct 18, 2026, SmarterDividends' blended fair-value estimate for ESBA is $1.79 per share, 61% below the $4.60 share price, so ESBA screens as overvalued.
- Empire State Realty OP, L.P. (ESBA) pays its dividend quarterly, 4 times a year.
- Empire State Realty OP, L.P. (ESBA) has raised its regular dividend 2 times and cut it 1 time across the 47 payments on record since 2013. Its most recent change was a 66.7% cut to $0.0350 per share, going ex-dividend on Jun 14, 2021.
Cite this page
SmarterDividends, "ESBA Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 18, 2026, https://smarterdividends.com/stocks/ESBA
Summary
As of Oct 18, 2026, Empire State Realty OP, L.P. (ESBA) yields 3.04% ($0.14 a year per share) and has a dividend safety grade of D (40/100).
Is ESBA a good dividend stock?
Higher riskEmpire State Realty OP, L.P. (ESBA) pays a quarterly dividend yielding 3.04% ($0.14/yr), with 0 years of growth and a dividend-safety grade of D. Treat the dividend with caution — recent cuts, a stretched payout or a falling price raise the risk.
Advantages
Risks
- Cut its dividend in 2021
- Elevated payout ratio (700%)
- Dividend has been shrinking, not growing
- Share price is down over the past 5 years
- Below-average dividend safety score
Key Data
- Dividend Yield
- 3.04%
- Payout Ratio
- 700%
- Annual Dividend
- $0.14
- 5-Yr Avg Growth
- -19.7%
- Ex-Dividend Date
- Sep 15, 2026
- Years of Growth
- 0
- Frequency
- quarterly
- Beta
- 1.46
- Market Cap
- $1.3B
- P/E Ratio
- 230.0
- 5-Yr Total Return
- -50%
- 52-Week Range
- $3.79 – $7.93
- Dividend Safety
- D · 40/100
- Ever Cut?
- Yes (2021)
ESBA dividend raises and cuts
Empire State Realty OP, L.P. (ESBA) has raised its regular dividend 2 times and cut it 1 time across the 47 payments on record since 2013. Its most recent change was a 66.7% cut to $0.0350 per share, going ex-dividend on Jun 14, 2021.
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Jun 14, 2021 | Cut | $0.105 → $0.0350 | −66.7% |
| Jun 13, 2016 | Raise | $0.0850 → $0.105 | +23.5% |
| Mar 12, 2014 | Raise | $0.0800 → $0.0850 | +6.3% |
Frequently Asked Questions
Is ESBA a good dividend stock?
Higher risk. Empire State Realty OP, L.P. (ESBA) pays a quarterly dividend yielding 3.04% ($0.14/yr), with 0 years of growth and a dividend-safety grade of D. Treat the dividend with caution — recent cuts, a stretched payout or a falling price raise the risk.
Is ESBA undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, ESBA's fair value is about $1.79 versus a $4.60 share price — so it looks overvalued (-61% vs. fair value).
Is ESBA's dividend safe?
ESBA has a dividend-safety grade of D (40/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 2021, debt and yield-versus-history.
What is ESBA's fair value?
Our blended fair-value estimate for ESBA is about $1.79 per share, about 61% below the current $4.60 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is ESBA a buy, hold, or sell?
We don't issue formal ratings, but on the data ESBA screens as "higher risk" and overvalued. Empire State Realty OP, L.P. (ESBA) pays a quarterly dividend yielding 3.04% ($0.14/yr), with 0 years of growth and a dividend-safety grade of D. Treat the dividend with caution — recent cuts, a stretched payout or a falling price raise the risk. This is research for your own analysis, not investment advice.
Will ESBA cut its dividend?
ESBA earns a dividend-safety grade of D (40/100), and has cut its dividend before (last in 2021). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does ESBA pay a dividend?
Yes. Empire State Realty OP, L.P. pays a quarterly dividend of about $0.14 per share annually, a forward yield of roughly 3.04%.
What is ESBA's dividend yield?
As of Oct 18, 2026, ESBA's forward dividend yield is 3.04%, based on a $0.14 annual dividend and a $4.60 share price.
What is ESBA's dividend per share?
As of Oct 18, 2026, ESBA pays $0.14 per share per year, distributed on a quarterly basis.
What is ESBA's dividend payout ratio?
As of Oct 18, 2026, ESBA's payout ratio is 700% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.
How many years has ESBA grown its dividend?
ESBA does not currently have a long dividend-growth streak on record.
When is the next ESBA ex-dividend date?
As of Oct 18, 2026, ESBA's next ex-dividend date hasn't been announced. The most recent was Sep 15, 2026, for $0.0350 per share.
ESBA Price — Last 12 Months
Daily close
Price Return
1 Year
-32%
3 Years
-48%
5 Years
-50%
52-Week Range
$3.79 – $7.93
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is ESBA worth?
Overvaluedlow confidenceOur blended fair-value estimate for Empire State Realty OP, L.P. is $1.79 per share, versus a market price of $4.60. That implies 61% of downside.
Fair Value
$1.79
Current Price
$4.60
Downside
-61%
Margin of Safety
-156%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Assumptions: 11.6% discount rate (CAPM), 5.0% growth for five years fading to 2.5% over the next five, $0.02 EPS, $0.14 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
ESBA Dividend Safety Score
Risky
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
Full ESBA dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 15, 2026 | Sep 30, 2026 | $0.0350 | regular |
| Jun 15, 2026 | Jun 30, 2026 | $0.0350 | regular |
| Mar 13, 2026 | Mar 31, 2026 | $0.0350 | regular |
| Jun 13, 2025 | Jun 30, 2025 | $0.0350 | regular |
| Mar 14, 2025 | Mar 31, 2025 | $0.0350 | regular |
| Dec 16, 2024 | Dec 31, 2024 | $0.0350 | regular |
| Sep 16, 2024 | Sep 30, 2024 | $0.0350 | regular |
| Jun 14, 2024 | Jun 28, 2024 | $0.0350 | regular |
| Mar 14, 2024 | Mar 28, 2024 | $0.0350 | regular |
| Dec 15, 2023 | Dec 29, 2023 | $0.0350 | regular |
| Sep 14, 2023 | Sep 29, 2023 | $0.0350 | regular |
| Jun 14, 2023 | Jun 30, 2023 | $0.0350 | regular |
| Mar 14, 2023 | Mar 31, 2023 | $0.0350 | regular |
| Dec 16, 2022 | Dec 30, 2022 | $0.0350 | regular |
Income Calculator
At $0.14 / yr per share
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