XML 40 R29.htm IDEA: XBRL DOCUMENT v3.24.3
Capital (Tables)
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Schedule of Distribution Activity
The following is a summary of distribution activity:
Three Months Ended September 30,Nine Months Ended September 30,
(amounts in thousands)2024202320242023
Distributions paid to OP unitholders$(9,595)$(9,484)$(28,693)$(27,640)
Distributions paid to preferred unitholders(1,050)(1,050)(3,151)(3,151)
Schedule of ERST Restricted Stock and LTIP Unit Activity
The following is a summary of ESRT restricted stock and LTIP unit activity for the nine months ended September 30, 2024:
Restricted StockTime-based LTIPsMarket-based LTIPsPerformance-based LTIPsWeighted Average Grant Fair Value
Unvested balance at December 31, 2023598,289 3,297,550 2,738,812 1,276,363 $6.60 
Vested(207,137)(1,167,148)(462,730)(2,208)7.46 
Granted259,927 1,485,369 1,010,132 808,874 7.81 
Forfeited or unearned(36,494)— (234,780)(4,930)7.29 
Unvested balance at September 30, 2024614,585 3,615,771 3,051,434 2,078,099 $6.87 
Schedule of Computation of Earnings Per Unit
Earnings per unit is computed as follows:
Three Months EndedNine Months Ended
(amounts in thousands, except per unit amounts)
September 30, 2024September 30, 2023September 30, 2024September 30, 2023
Numerator:
Net income$22,796 $19,928 $61,566 $68,577 
Private perpetual preferred unit distributions(1,050)(1,050)(3,151)(3,151)
Net income attributable to non-controlling interests in other partnerships— (111)(4)(69)
Net income attributable to common unitholders – basic and diluted$21,746 $18,767 $58,411 $65,357 
Denominator:
Weighted average units outstanding – basic264,787 262,756 264,675 263,379 
Effect of dilutive securities:
  Stock-based compensation plans4,826 3,317 3,933 1,890 
Weighted average units outstanding – diluted269,613 266,073 268,608 265,269 
Earnings per unit:
Basic$0.08 $0.07 $0.22 $0.25 
Diluted$0.08 $0.07 $0.22 $0.25