Empire State Realty Trust, Inc. (NYSE:ESRT) to Issue $0.04 Quarterly Dividend

Empire State Realty Trust, Inc. (NYSE:ESRT - Get Free Report) announced a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Investors of record on Friday, March 14th will be given a dividend of 0.035 per share by the real estate investment trust on Monday, March 31st. This represents a $0.14 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Friday, March 14th.

Empire State Realty Trust has raised its dividend by an average of 98.1% per year over the last three years.

Empire State Realty Trust Trading Down 1.9 %

NYSE ESRT traded down $0.17 during trading hours on Thursday, hitting $8.50. 1,220,469 shares of the company's stock were exchanged, compared to its average volume of 1,331,916. The stock has a 50-day simple moving average of $9.48 and a 200 day simple moving average of $10.33. Empire State Realty Trust has a 1-year low of $8.40 and a 1-year high of $11.62. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 30.34 and a beta of 1.40. 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 released its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $192.62 million. On average, equities analysts forecast that Empire State Realty Trust will post 0.88 EPS for the current fiscal year.

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Wall Street Analysts Forecast Growth

Several research firms recently commented on ESRT. BMO Capital Markets raised their target price on Empire State Realty Trust from $12.00 to $13.00 and gave the stock an "outperform" rating in a research note on Friday, November 15th. StockNews.com upgraded Empire State Realty Trust from a "sell" rating to a "hold" rating in a report on Monday.

Insiders Place Their Bets

In other news, EVP Thomas P. Durels sold 3,193 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $10.90, for a total value of $34,803.70. Following the transaction, the executive vice president now owns 96,807 shares in the company, valued at $1,055,196.30. This trade represents a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 13.95% of the company's stock.

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.