Empire State Realty (ESRT) vs Safehold New (SAFE)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Safehold New (SAFE) has outperformed Empire State Realty (ESRT) over the past year, losing 20.0% versus a loss of 42.4%. Over five years, ESRT leads with a -59.1% price change compared with -90.1% for SAFE. Empire State Realty is the larger company by market cap ($1.37 billion vs $851.2 million), about 1.6 times the size.
On valuation, Safehold New trades at a lower forward P/E (7.2x vs 74.5x for Empire State Realty). Safehold New offers the higher dividend yield (5.89% vs 3.13%).
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | ESRT | SAFE |
|---|---|---|
| Share price | $4.47 | $12.02 |
| Market cap | $1.37B | $851.21M |
| 1-day change | +0.90% | -0.66% |
| YTD return | -31.44% | -12.20% |
| 1-year return | -42.40% | -19.97% |
| 5-year return | -59.07% | -90.10% |
| P/E ratio (TTM) | 223.50 | 7.51 |
| Forward P/E | 74.50 | 7.17 |
| EPS (TTM) | $0.02 | $1.60 |
| Dividend yield | 3.13% | 5.89% |
| Annual dividend | $0.14 | $0.708 |
| 52-week high | $8.04 | $17.45 |
| 52-week low | $3.93 | $11.60 |
| Distance from 52-week high | -44.40% | -31.12% |
| Analyst consensus | hold | hold |
| Avg. price target upside | +20.81% | +48.92% |
| Average volume | 3.03M | 392.21K |
| Shares outstanding | 172.17M | 70.82M |
| Employees | 642 | 72 |
| Sector | Real Estate | Real Estate |
| Industry | REIT - Diversified | REIT - Diversified |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- SAFE has outperformed ESRT by 22.4 percentage points over the past year.
- Empire State Realty trades at a higher earnings multiple (223.5x vs 7.5x trailing P/E).
- Safehold New offers a meaningfully higher dividend yield (5.89% vs 3.13%).
About Empire State Realty
ESRT stock →Empire State Realty Trust, Inc. is a NYC-focused REIT that owns and operates a portfolio of well-leased, top of tier, modernized, amenitized, and well-located office, retail, and multifamily assets.
Real Estate · REIT - Diversified · 642 employees
About Safehold New
SAFE stock →Safehold Inc. is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings.
Real Estate · REIT - Diversified · 72 employees
ESRT vs SAFE FAQ
Which is bigger, Empire State Realty or Safehold New?
Empire State Realty (ESRT) is larger, with a market capitalization of $1.37B compared with $851.21M for Safehold New (SAFE).
Which stock has performed better over the past year, ESRT or SAFE?
SAFE returned -19.97% over the past 12 months, compared with -42.40% for ESRT (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, ESRT or SAFE?
SAFE has the lower trailing P/E at 7.5, versus 223.5 for ESRT. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Empire State Realty or Safehold New?
Safehold New has the higher yield at 5.89%, compared with 3.13% for Empire State Realty.
Are Empire State Realty and Safehold New in the same industry?
Yes. Both are classified in the REIT - Diversified industry within the Real Estate sector.