Empire State Realty Trust, Inc. (NYSE:ESRT) Declares $0.04 Quarterly Dividend

Empire State Realty Trust, Inc. (NYSE:ESRT) announced a quarterly dividend on Friday, December 6th,RTT News reports. Investors of record on Monday, December 16th will be paid a dividend of 0.035 per share by the real estate investment trust on Tuesday, December 31st. This represents a $0.14 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Monday, December 16th.

Empire State Realty Trust has decreased its dividend payment by an average of 12.6% per year over the last three years.

Empire State Realty Trust Trading Up 0.6 %

Shares of ESRT opened at $11.23 on Friday. Empire State Realty Trust has a twelve month low of $8.78 and a twelve month high of $11.62. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. The company’s fifty day simple moving average is $10.96 and its 200-day simple moving average is $10.42. The company has a market cap of $1.87 billion, a P/E ratio of 41.59 and a beta of 1.40.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.16). Empire State Realty Trust had a return on equity of 2.73% and a net margin of 6.22%. The firm had revenue of $199.60 million during the quarter. During the same period in the prior year, the firm posted $0.25 earnings per share. As a group, analysts expect that Empire State Realty Trust will post 0.93 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on ESRT. StockNews.com downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 2nd. BMO Capital Markets upped their price objective on Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company lifted their target price on Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Wednesday, September 11th.

About Empire State Realty Trust

Empire State Realty Trust, Inc (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. The company is the recognized leader in energy efficiency and indoor environmental quality. ESRT’s flagship Empire State Building – the “World’s Most Famous Building” – includes its Observatory, Tripadvisor’s 2023 Travelers’ Choice Awards: Best of the Best the #1 attraction in the US for two consecutive years.