Is ESBA or FBRT more undervalued in 2026?

CirclFi compares Empire State Realty OP, L.P. Se (ESBA) and Franklin BSP Realty Trust, Inc. (FBRT) using 13 institutional-grade valuation models. ESBA has a Quality of Company score of 6.0/10 while FBRT scores 8.0/10.

Which is a better buy — ESBA or FBRT?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do ESBA and FBRT valuations compare?

ESBA at $5.50 and FBRT at $8.67 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

ESBA vs FBRT Valuation Comparison 2026 — Intrinsic Value Analysis

ESBA

Real Estate Investment Trusts

Empire State Realty OP, L.P. Se

Quality

6.0

out of 10

Value Trap

—

Price

$5.50

Last close

Models

13/13

Active

FBRT

Real Estate Investment Trusts

Franklin BSP Realty Trust, Inc.

Quality

8.0

out of 10

Value Trap

SAFE

Price

$8.67

Last close

Models

10/13

Active

Model-by-Model Comparison

Model	Type	ESBA Fair Value	ESBA Upside	FBRT Fair Value	FBRT Upside
Bayesian DCF	Intrinsic	$0.19	-96.6%	$18.31	+111.2%
Earnings Power Value	Intrinsic	$2.08	-62.2%	$11.31	+30.5%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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ESBA vs FBRT — Which Stock Is More Undervalued?

FBRT scores higher with a 8.0/10 quality rating vs ESBA's 6.0/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Empire State Realty OP, L.P. Se (ESBA) and Franklin BSP Realty Trust, Inc. (FBRT) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

ESBA currently trades at $5.50 with a QOC of 6.0/10, while FBRT trades at $8.67 with a QOC of 8.0/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).