ESRT vs. EPR

Last updated Jun 3, 2026

ESRT (Empire State Realty Trust, Inc.) and EPR (EPR Properties) are both stocks. Both are in the Real Estate sector — ESRT in REIT - Diversified, EPR in REIT - Retail. Over the past 10 years, ESRT returned -9.63%/yr vs 3.56%/yr for EPR. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

ESRT vs. EPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Empire State Realty Trust, Inc. (ESRT) and EPR Properties (EPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ESRT achieves a -11.99% return, which is significantly lower than EPR's 16.31% return. Over the past 10 years, ESRT has underperformed EPR with an annualized return of -9.63%, while EPR has yielded a comparatively higher 3.56% annualized return.

ESRT

• 1D: -0.52%
• 1M: 1.42%
• YTD: -11.99%
• 6M: -16.54%
• 1Y: -24.76%
• 3Y*: -1.36%
• 5Y*: -12.60%
• 10Y*: -9.63%

EPR

• 1D: 0.46%
• 1M: 2.68%
• YTD: 16.31%
• 6M: 11.49%
• 1Y: 7.69%
• 3Y*: 16.86%
• 5Y*: 8.75%
• 10Y*: 3.56%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ESRT vs. EPR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ESRT Empire State Realty Trust, Inc.	-11.99%	-35.68%	7.97%	46.32%	-22.82%	-3.53%	-31.48%	0.90%	-28.91%	3.77%
EPR EPR Properties	16.31%	20.52%	-1.25%	38.83%	-14.61%	50.60%	-52.09%	17.13%	3.59%	-3.41%

Correlation

The correlation between ESRT and EPR is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Oct 3, 2013	0.54

Over the past year, the correlation between ESRT and EPR has dropped to 0.31 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

Fundamentals

Market Cap ESRT : $1.54B EPR : $4.32B
EPS ESRT : $0.14 EPR : $3.55
PE Ratio ESRT : 39.91 EPR : 15.91
PEG Ratio ESRT : 126.99 EPR : 0.34
PS Ratio ESRT : 1.98 EPR : 6.17
PB Ratio ESRT : 0.84 EPR : 1.87
Total Revenue (TTM) ESRT : $778.07M EPR : $700.22M
Gross Profit (TTM) ESRT : $77.93M EPR : $568.77M
EBITDA (TTM) ESRT : $306.57M EPR : $582.57M

Return for Risk

ESRT vs. EPR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ESRT

ESRT Risk / Return Rank: 15
ESRT Sharpe Ratio Rank: 9
ESRT Sortino Ratio Rank: 11
ESRT Omega Ratio Rank: 13
ESRT Calmar Ratio Rank: 20
ESRT Martin Ratio Rank: 20

EPR

EPR Risk / Return Rank: 48
EPR Sharpe Ratio Rank: 52
EPR Sortino Ratio Rank: 44
EPR Omega Ratio Rank: 44
EPR Calmar Ratio Rank: 50
EPR Martin Ratio Rank: 49

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ESRT vs. EPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Empire State Realty Trust, Inc. (ESRT) and EPR Properties (EPR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ESRT	EPR	Difference
Sharpe ratio Return per unit of total volatility	-0.77	0.35	-1.12
Sortino ratio Return per unit of downside risk	-0.95	0.62	-1.57
Omega ratio Gain probability vs. loss probability	0.89	1.08	-0.19
Calmar ratio Return relative to maximum drawdown	-0.57	0.43	-1.00
Martin ratio Return relative to average drawdown	-1.01	0.85	-1.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ESRT vs. EPR - Sharpe Ratio Comparison

The current ESRT Sharpe Ratio is -0.77, which is lower than the EPR Sharpe Ratio of 0.35. The chart below compares the historical Sharpe Ratios of ESRT and EPR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ESRT	EPR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.77	0.35	-1.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.37	0.34	-0.70
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.27	0.08	-0.35
Sharpe Ratio (All Time) Calculated using the full available price history	-0.14	0.30	-0.44

Drawdowns

ESRT vs. EPR - Drawdown Comparison

The maximum ESRT drawdown since its inception was -72.91%, smaller than the maximum EPR drawdown of -82.02%. Use the drawdown chart below to compare losses from any high point for ESRT and EPR.

Drawdown Indicators

	ESRT	EPR	Difference
Max Drawdown Largest peak-to-trough decline	-72.91%	-82.02%	+9.11%
Max Drawdown (1Y) Largest decline over 1 year	-41.89%	-19.51%	-22.38%
Max Drawdown (3Y) Largest decline over 3 years	-55.39%	-19.51%	-35.88%
Max Drawdown (5Y) Largest decline over 5 years	-57.84%	-35.63%	-22.21%
Max Drawdown (10Y) Largest decline over 10 years	-72.91%	-82.02%	+9.11%
Current Drawdown Current decline from peak	-68.75%	-5.08%	-63.67%
Average Drawdown Average peak-to-trough decline	-33.55%	-16.60%	-16.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.86%	9.79%	+14.07%

Volatility

ESRT vs. EPR - Volatility Comparison

Empire State Realty Trust, Inc. (ESRT) has a higher volatility of 9.74% compared to EPR Properties (EPR) at 5.06%. This indicates that ESRT's price experiences larger fluctuations and is considered to be riskier than EPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESRT	EPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.74%	5.06%	+4.68%
Volatility (6M) Calculated over the trailing 6-month period	21.27%	16.37%	+4.90%
Volatility (1Y) Calculated over the trailing 1-year period	32.25%	22.25%	+10.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.51%	26.22%	+8.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.85%	42.45%	-6.60%

Dividends

ESRT vs. EPR - Dividend Comparison

ESRT's dividend yield for the trailing twelve months is around 2.46%, less than EPR's 6.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPR EPR Properties	6.35%	7.05%	7.68%	6.81%	8.62%	3.16%	4.66%	6.37%	5.62%	6.23%	5.35%	6.21%
ESRT Empire State Realty Trust, Inc.	2.46%	2.15%	1.36%	1.44%	2.08%	1.18%	2.25%	3.01%	2.95%	2.05%	1.98%	1.88%

Financials

ESRT vs. EPR - Profitability Comparison

The chart below illustrates the profitability comparison between Empire State Realty Trust, Inc. and EPR Properties over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ESRT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Empire State Realty Trust, Inc. reported a gross profit of 155.71M and revenue of 190.33M. Therefore, the gross margin over that period was 81.8%.

EPR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, EPR Properties reported a gross profit of 180.96M and revenue of 181.25M. Therefore, the gross margin over that period was 99.8%.

ESRT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Empire State Realty Trust, Inc. reported an operating income of 29.46M and revenue of 190.33M, resulting in an operating margin of 15.5%.

EPR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, EPR Properties reported an operating income of 100.62M and revenue of 181.25M, resulting in an operating margin of 55.5%.

ESRT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Empire State Realty Trust, Inc. reported a net income of 1.24M and revenue of 190.33M, resulting in a net margin of 0.7%.

EPR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, EPR Properties reported a net income of 62.61M and revenue of 181.25M, resulting in a net margin of 34.5%.

Frequently Asked Questions

Can I hold both ESRT and EPR in my portfolio?

ESRT and EPR have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ESRT or EPR?

ESRT has higher volatility (9.74%) compared to EPR (5.06%). In terms of maximum drawdown, ESRT dropped -72.91% vs EPR's -82.02%.

Which has better risk-adjusted returns?

EPR currently has the higher Sharpe Ratio (0.35 vs -0.77), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.