Empire State Realty Trust (NYSE:ESRT) Releases FY 2024 Earnings Guidance

Empire State Realty Trust (NYSE:ESRT) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.920-0.940 for the period, compared to the consensus estimate of 0.930. The company issued revenue guidance of -.

Empire State Realty Trust Stock Down 0.3 %

NYSE:ESRT opened at $11.18 on Wednesday. The firm has a market capitalization of $1.84 billion, a P/E ratio of 37.27 and a beta of 1.40. Empire State Realty Trust has a 1-year low of $7.34 and a 1-year high of $11.62. The company’s fifty day moving average price is $10.75 and its 200-day moving average price is $10.02. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.24 and a quick ratio of 3.24.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.16). The firm had revenue of $199.60 million for the quarter. Empire State Realty Trust had a net margin of 5.89% and a return on equity of 2.57%. During the same quarter in the previous year, the company posted $0.25 EPS. As a group, equities research analysts anticipate that Empire State Realty Trust will post 0.92 EPS for the current year.

Empire State Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.035 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.14 annualized dividend and a dividend yield of 1.25%. Empire State Realty Trust’s dividend payout ratio (DPR) is 46.67%.

Analysts Set New Price Targets

Several analysts have recently issued reports on ESRT shares. BMO Capital Markets lifted their target price on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. StockNews.com downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company raised their price target on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the stock 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.