Empire State Realty Trust (NYSE:ESRT) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Empire State Realty Trust (NYSE:ESRT) from a sell rating to a hold rating in a research report sent to investors on Monday morning.

Separately, BMO Capital Markets lifted their price target on Empire State Realty Trust from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 15th.

Empire State Realty Trust Stock Performance

Shares of NYSE ESRT opened at $8.68 on Monday. 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 stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 30.98 and a beta of 1.40. The stock’s fifty day simple moving average is $9.51 and its 200 day simple moving average is $10.34. Empire State Realty Trust has a 52-week low of $8.49 and a 52-week high of $11.62.

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

Empire State Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.035 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.14 dividend on an annualized basis and a yield of 1.61%. Empire State Realty Trust’s dividend payout ratio (DPR) is currently 50.00%.

Insider Buying and Selling 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 dated Tuesday, December 24th. The stock was sold at an average price of $10.10, for a total value of $101,000.00. Following the transaction, the executive vice president now owns 86,807 shares in the company, valued at $876,750.70. The trade was a 10.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 13.95% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Empire State Realty Trust in the third quarter worth about $25,000. GF Fund Management CO. LTD. acquired a new stake in shares of Empire State Realty Trust in the fourth quarter worth about $26,000. Sterling Capital Management LLC lifted its position in shares of Empire State Realty Trust by 819.7% in the fourth quarter. Sterling Capital Management LLC now owns 4,295 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 3,828 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Empire State Realty Trust by 3,139.1% in the third quarter. Loomis Sayles & Co. L P now owns 4,470 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 4,332 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of Empire State Realty Trust in the fourth quarter worth about $54,000. 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.