Empire State Realty Trust, Inc. (NYSE:ESRT - Get Free Report)'s share price reached a new 52-week low during trading on Monday . The company traded as low as $8.37 and last traded at $8.39, with a volume of 51104 shares trading hands. The stock had previously closed at $8.54.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. BMO Capital Markets boosted their price target 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 shares of Empire State Realty Trust from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd.
Check Out Our Latest Stock Analysis on ESRT
Empire State Realty Trust Stock Performance
The firm has a 50-day moving average of $9.29 and a 200-day moving average of $10.27. 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 stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 28.52 and a beta of 1.39.
Empire State Realty Trust (NYSE:ESRT - Get Free Report) last issued its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.19. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. The firm had revenue of $155.13 million during the quarter, compared to analysts' expectations of $192.62 million. As a group, sell-side analysts predict that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current year.
Empire State Realty Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.035 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.14 annualized dividend and a yield of 1.75%. Empire State Realty Trust's dividend payout ratio is presently 50.00%.
Insider Transactions at Empire State Realty Trust
In other news, EVP Thomas P. Durels sold 3,193 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $10.90, for a total transaction of $34,803.70. Following the sale, the executive vice president now directly owns 96,807 shares of the company's stock, valued at $1,055,196.30. This represents a 3.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 13.95% of the company's stock.
Hedge Funds Weigh In On Empire State Realty Trust
Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Empire State Realty Trust by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 19,844,999 shares of the real estate investment trust's stock valued at $204,800,000 after acquiring an additional 461,421 shares during the period. Ameriprise Financial Inc. boosted its holdings in Empire State Realty Trust by 42.4% in 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 buying an additional 2,750,045 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Empire State Realty Trust by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,758,869 shares of the real estate investment trust's stock worth $41,648,000 after buying an additional 171,056 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Empire State Realty Trust by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 3,720,315 shares of the real estate investment trust's stock valued at $38,394,000 after acquiring an additional 90,758 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Empire State Realty Trust by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 3,419,970 shares of the real estate investment trust's stock valued at $35,302,000 after purchasing an additional 13,045 shares in the last quarter. Hedge funds and other institutional investors own 67.10% of the company's stock.
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.
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