StockNews.com upgraded shares of Empire State Realty Trust (NYSE:ESRT - Free Report) from a sell rating to a hold rating in a research report sent to investors on Monday morning.
Separately, BMO Capital Markets boosted their price target on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the company an "outperform" rating in a report on Friday, November 15th.
View Our Latest Analysis on ESRT
Empire State Realty Trust Stock Up 0.3 %
NYSE:ESRT traded up $0.03 on Monday, reaching $8.52. The stock had a trading volume of 1,322,477 shares, compared to its average volume of 1,331,699. Empire State Realty Trust has a 12-month low of $8.40 and a 12-month high of $11.62. The stock has a market cap of $1.42 billion, a P/E ratio of 30.41 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. The company has a 50-day moving average of $9.44 and a 200 day moving average of $10.32.
Empire State Realty Trust (NYSE:ESRT - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $155.13 million during the quarter, compared to analyst estimates of $192.62 million. On average, research analysts predict that Empire State Realty Trust will post 0.88 earnings per share for the current year.
Empire State Realty Trust Announces Dividend
The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, March 14th. Empire State Realty Trust's dividend payout ratio (DPR) is presently 50.00%.
Insider Activity at Empire State Realty Trust
In other Empire State Realty Trust news, EVP Thomas P. Durels sold 10,000 shares of the firm's stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $10.10, for a total value of $101,000.00. Following the completion of the transaction, the executive vice president now directly owns 86,807 shares in the company, valued at $876,750.70. This trade represents a 10.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 13.95% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Empire State Realty Trust
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning lifted its holdings in shares of Empire State Realty Trust by 20.5% in the third quarter. Creative Planning now owns 12,598 shares of the real estate investment trust's stock valued at $140,000 after purchasing an additional 2,145 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Empire State Realty Trust by 35.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust's stock worth $59,000 after acquiring an additional 1,419 shares in the last quarter. abrdn plc boosted its position in Empire State Realty Trust by 9.9% during the 3rd quarter. abrdn plc now owns 28,996 shares of the real estate investment trust's stock worth $321,000 after acquiring an additional 2,606 shares during the period. Van ECK Associates Corp grew its stake in Empire State Realty Trust by 11.5% during the 3rd quarter. Van ECK Associates Corp now owns 26,453 shares of the real estate investment trust's stock valued at $288,000 after acquiring an additional 2,735 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of Empire State Realty Trust by 2.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 211,724 shares of the real estate investment trust's stock valued at $2,346,000 after purchasing an additional 4,581 shares during the period. Institutional investors and hedge funds own 67.10% of the company's stock.
About Empire State Realty Trust
(
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.
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