WallStSmart

Empire State Realty Trust Inc (ESRT)vsSafehold Inc (SAFE)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Empire State Realty Trust Inc generates 86% more annual revenue ($776.71M vs $416.66M). SAFE leads profitability with a 27.4% profit margin vs 5.1%. SAFE appears more attractively valued with a PEG of 0.65. SAFE earns a higher WallStSmart Score of 68/100 (B-).

ESRT

Hold

46

out of 100

Grade: D+

Growth: 3.3Profit: 5.0Value: 6.0Quality: 4.8
Piotroski: 2/9

SAFE

Strong Buy

68

out of 100

Grade: B-

Growth: 5.3Profit: 7.0Value: 9.3Quality: 5.0
Piotroski: 3/9Altman Z: 0.92
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

ESRTUndervalued (+68.7%)

Margin of Safety

+68.7%

Fair Value

$20.35

Current Price

$5.41

$14.94 discount

UndervaluedFair: $20.35Overvalued
SAFEUndervalued (+82.0%)

Margin of Safety

+82.0%

Fair Value

$82.17

Current Price

$14.49

$67.68 discount

UndervaluedFair: $82.17Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

ESRT1 strengths · Avg: 10.0/10
Price/BookValuation
0.9x10/10

Reasonable price relative to book value

SAFE5 strengths · Avg: 9.4/10
P/E RatioValuation
9.3x10/10

Attractively priced relative to earnings

Price/BookValuation
0.4x10/10

Reasonable price relative to book value

Operating MarginProfitability
72.3%10/10

Strong operational efficiency at 72.3%

Profit MarginProfitability
27.4%9/10

Keeps 27 of every $100 in revenue as profit

PEG RatioValuation
0.658/10

Growing faster than its price suggests

Areas to Watch

ESRT4 concerns · Avg: 3.5/10
P/E RatioValuation
26.8x4/10

Moderate valuation

Revenue GrowthGrowth
4.9%4/10

4.9% revenue growth

Market CapQuality
$1.70B3/10

Smaller company, higher risk/reward

Return on EquityProfitability
3.3%3/10

ROE of 3.3% — below average capital efficiency

SAFE4 concerns · Avg: 3.0/10
Market CapQuality
$1.07B3/10

Smaller company, higher risk/reward

Return on EquityProfitability
4.7%3/10

ROE of 4.7% — below average capital efficiency

Debt/EquityHealth
1.963/10

Elevated debt levels

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Comparative Analysis Report

WallStSmart Research

Bull Case : ESRT

The strongest argument for ESRT centers on Price/Book.

Bull Case : SAFE

The strongest argument for SAFE centers on P/E Ratio, Price/Book, Operating Margin. Profitability is solid with margins at 27.4% and operating margin at 72.3%. Revenue growth of 11.9% demonstrates continued momentum.

Bear Case : ESRT

The primary concerns for ESRT are P/E Ratio, Revenue Growth, Market Cap.

Bear Case : SAFE

The primary concerns for SAFE are Market Cap, Return on Equity, Debt/Equity. Debt-to-equity of 1.96 is elevated, increasing financial risk.

Key Dynamics to Monitor

ESRT profiles as a value stock while SAFE is a mature play — different risk/reward profiles.

SAFE carries more volatility with a beta of 1.85 — expect wider price swings.

SAFE is growing revenue faster at 11.9% — sustainability is the question.

Monitor REIT - DIVERSIFIED industry trends, competitive dynamics, and regulatory changes.

Bottom Line

SAFE scores higher overall (68/100 vs 46/100), backed by strong 27.4% margins and 11.9% revenue growth. ESRT offers better value entry with a 68.7% margin of safety. Both earn "Strong Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Empire State Realty Trust Inc

REAL ESTATE · REIT - DIVERSIFIED · USA

Empire State Realty Trust, Inc. (NYSE: ESRT), a major real estate investment trust (REIT), owns, manages, operates, acquires and repositions offices and retail properties in Manhattan and the New York metropolitan area, including the Empire State Building, the?

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Safehold Inc

REAL ESTATE · REIT - DIVERSIFIED · USA

Safehold Inc. (SAFE) is a leading real estate investment trust (REIT) focused on the acquisition and management of ground leases, which allows property owners to enhance their asset value while retaining ownership. By targeting high-quality urban properties, Safehold creates a low-risk investment profile with the potential for steady income generation. The company's strong balance sheet and dedication to sustainable income growth position it favorably to capitalize on the rising demand for ground leases. With its unique business model and commitment to delivering consistent returns, Safehold presents an appealing investment opportunity for institutional investors seeking diversification in their portfolios.

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