Empire State Realty Trust (NYSE:ESRT) Reaches New 12-Month Low - Should You Sell?

Shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Get Free Report) hit a new 52-week low during trading on Friday . The company traded as low as $7.82 and last traded at $7.87, with a volume of 25550 shares traded. The stock had previously closed at $7.95.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. 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 for the company in a research note on Tuesday, March 25th. StockNews.com lowered Empire State Realty Trust from a "hold" rating to a "sell" rating in a research report on Wednesday, March 19th.

Empire State Realty Trust Trading Down 0.7 %

The stock has a market capitalization of $1.30 billion, a P/E ratio of 27.70 and a beta of 1.39. The stock's 50 day moving average price is $8.83 and its 200-day moving average price is $10.04. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last announced its 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 business had revenue of $155.13 million for the quarter, compared to analysts' expectations of $192.62 million. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. As a group, equities research analysts expect that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current year.

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Empire State Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Friday, March 14th. Empire State Realty Trust's payout ratio is 50.00%.

Insider Transactions at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 5,779 shares of the firm's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $8.03, for a total value of $46,405.37. Following the completion of the sale, the executive vice president now owns 56,028 shares of the company's stock, valued at $449,904.84. This trade represents a 9.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 30,122 shares of company stock valued at $242,761 in the last 90 days. Insiders own 13.95% of the company's stock.

Institutional Investors Weigh In On Empire State Realty Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Empire State Realty Trust in the 3rd quarter valued at approximately $25,000. GF Fund Management CO. LTD. purchased a new position in Empire State Realty Trust in the 4th quarter worth $26,000. Sterling Capital Management LLC raised its stake in Empire State Realty Trust by 819.7% in the 4th quarter. Sterling Capital Management LLC now owns 4,295 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 3,828 shares during the last quarter. State of Wyoming acquired a new stake in Empire State Realty Trust during the 4th quarter worth about $54,000. Finally, Pinney & Scofield Inc. purchased a new stake in Empire State Realty Trust during the 4th quarter valued at about $103,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

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.