Empire State Realty Trust (NYSE:ESRT) Lowered to “Sell” Rating by StockNews.com

StockNews.com cut shares of Empire State Realty Trust (NYSE:ESRT) from a hold rating to a sell rating in a report published on Wednesday morning.

Empire State Realty Trust Stock Down 0.9 %

Shares of Empire State Realty Trust stock opened at $8.10 on Wednesday. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. The company has a market cap of $1.36 billion, a P/E ratio of 28.91 and a beta of 1.39. The firm’s 50 day moving average price is $9.09 and its 200-day moving average price is $10.18. Empire State Realty Trust has a 52-week low of $7.88 and a 52-week high of $11.62.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.19. The business had revenue of $155.13 million for the quarter, compared to analyst estimates of $192.62 million. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. On average, sell-side analysts predict that Empire State Realty Trust will post 0.88 EPS for the current fiscal year.

Empire State Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.73%. The ex-dividend date is Friday, March 14th. Empire State Realty Trust’s dividend payout ratio is presently 50.00%.

Insider Transactions at Empire State Realty Trust

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $10.10, for a total transaction of $101,000.00. Following the sale, the executive vice president now owns 86,807 shares of the company’s stock, valued at approximately $876,750.70. The trade was a 10.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 13.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its stake in Empire State Realty Trust by 3.3% in the 3rd quarter. Principal Financial Group Inc. now owns 98,013 shares of the real estate investment trust’s stock worth $1,086,000 after acquiring an additional 3,141 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Empire State Realty Trust in the third quarter worth about $256,000. Victory Capital Management Inc. raised its stake in shares of Empire State Realty Trust by 7.3% in the third quarter. Victory Capital Management Inc. now owns 262,687 shares of the real estate investment trust’s stock worth $2,911,000 after purchasing an additional 17,777 shares during the last quarter. Metis Global Partners LLC lifted its holdings in shares of Empire State Realty Trust by 38.8% during the third quarter. Metis Global Partners LLC now owns 14,265 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 3,987 shares during the period. Finally, Natixis Advisors LLC purchased a new stake in Empire State Realty Trust in the third quarter valued at approximately $844,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Company Profile

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.