Empire State Realty Trust, Inc. (NYSE:ESRT - Get Free Report) EVP Thomas P. Durels sold 11,843 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $8.02, for a total transaction of $94,980.86. Following the completion of the sale, the executive vice president now owns 44,185 shares in the company, valued at $354,363.70. This represents a 21.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Empire State Realty Trust Trading Down 1.6 %
NYSE:ESRT traded down $0.13 during trading hours on Friday, hitting $7.83. 668,320 shares of the company were exchanged, compared to its average volume of 1,158,937. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 27.95 and a beta of 1.39. Empire State Realty Trust, Inc. has a one year low of $7.77 and a one year high of $11.62. The company has a fifty day simple moving average of $8.87 and a 200 day simple moving average of $10.06. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23.
Empire State Realty Trust (NYSE:ESRT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.24 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 2.84% and a net margin of 6.45%. Sell-side analysts expect that Empire State Realty Trust, Inc. will post 0.88 EPS for the current fiscal year.
Empire State Realty Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, March 14th. Empire State Realty Trust's dividend payout ratio (DPR) is presently 50.00%.
Hedge Funds Weigh In On Empire State Realty Trust
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Investment Advisors Inc. raised its position in shares of Empire State Realty Trust by 8.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 14,263 shares of the real estate investment trust's stock worth $147,000 after acquiring an additional 1,131 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Empire State Realty Trust by 4.5% in the third quarter. BNP Paribas Financial Markets now owns 28,391 shares of the real estate investment trust's stock worth $315,000 after purchasing an additional 1,231 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Empire State Realty Trust by 2.7% during the 4th quarter. State of Alaska Department of Revenue now owns 65,276 shares of the real estate investment trust's stock worth $672,000 after buying an additional 1,722 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Empire State Realty Trust by 2.3% during the 4th quarter. MetLife Investment Management LLC now owns 83,357 shares of the real estate investment trust's stock worth $860,000 after buying an additional 1,855 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Empire State Realty Trust during the 3rd quarter worth approximately $25,000. Institutional investors and hedge funds own 67.10% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. StockNews.com cut Empire State Realty Trust from a "hold" rating to a "sell" rating in a report on Wednesday, March 19th. Wolfe Research raised Empire State Realty Trust from a "peer perform" rating to an "outperform" rating and set a $10.00 price objective for the company in a research note on Tuesday.
Get Our Latest Analysis on Empire State Realty Trust
Empire State Realty Trust Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Empire State Realty Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Empire State Realty Trust wasn't on the list.
While Empire State Realty Trust currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
