Insider Selling: Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Sells $94,980.86 in Stock

Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels sold 11,843 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $8.02, for a total transaction of $94,980.86. Following the completion of the transaction, the executive vice president now directly owns 44,185 shares in the company, valued at $354,363.70. This trade represents a 21.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Empire State Realty Trust Trading Down 1.4 %

Shares of Empire State Realty Trust stock opened at $7.93 on Friday. The stock has a market capitalization of $1.33 billion, a P/E ratio of 28.34 and a beta of 1.39. Empire State Realty Trust, Inc. has a 52-week low of $7.88 and a 52-week high of $11.62. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 3.72. The stock’s 50-day simple moving average is $8.90 and its 200 day simple moving average is $10.08.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.19. The company 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%. As a group, research analysts anticipate that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.

Empire State Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.035 per share. The ex-dividend date is Friday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 1.76%. Empire State Realty Trust’s dividend payout ratio is currently 50.00%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. StockNews.com lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, March 19th. Wolfe Research raised shares of Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a report on Tuesday.

Hedge Funds Weigh In On Empire State Realty Trust

Hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. lifted its holdings in Empire State Realty Trust by 42.4% during the 4th quarter. Ameriprise Financial Inc. now owns 9,235,041 shares of the real estate investment trust’s stock worth $95,306,000 after purchasing an additional 2,750,045 shares in the last quarter. Vision Capital Corp increased its position in shares of Empire State Realty Trust by 79.9% during the third quarter. Vision Capital Corp now owns 2,802,948 shares of the real estate investment trust’s stock valued at $31,057,000 after buying an additional 1,245,211 shares during the period. Waterfront Capital Partners LLC bought a new stake in shares of Empire State Realty Trust during the fourth quarter valued at about $11,048,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Empire State Realty Trust by 392.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,099,288 shares of the real estate investment trust’s stock worth $12,180,000 after buying an additional 875,836 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Empire State Realty Trust by 42.1% in the fourth quarter. Northern Trust Corp now owns 2,600,328 shares of the real estate investment trust’s stock valued at $26,835,000 after acquiring an additional 771,017 shares during the period. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

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.