Empire State Realty Trust (NYSE:ESRT) Sets New 1-Year Low - Should You Sell?

Shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Get Free Report) reached a new 52-week low during trading on Thursday . The stock traded as low as $8.66 and last traded at $8.91, with a volume of 871483 shares. The stock had previously closed at $9.01.

Analysts Set New Price Targets

Several research firms have issued reports on ESRT. StockNews.com cut shares of Empire State Realty Trust from a "hold" rating to a "sell" rating in a research report on Thursday, January 23rd. BMO Capital Markets lifted 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 research note on Friday, November 15th.

Empire State Realty Trust Stock Down 0.9 %

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 business has a 50-day moving average price of $9.72 and a 200-day moving average price of $10.41. The firm has a market cap of $1.45 billion, a P/E ratio of 30.98 and a beta of 1.40.

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 company had revenue of $155.13 million for the quarter, compared to analysts' expectations of $192.62 million.

Empire State Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.61%. The ex-dividend date was Monday, December 16th. Empire State Realty Trust's payout ratio is 50.00%.

Insiders Place Their Bets

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 10,000 shares of Empire State Realty Trust stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $10.10, for a total value of $101,000.00. Following the transaction, the executive vice president now owns 86,807 shares in the company, valued at $876,750.70. The trade was a 10.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 13.95% of the stock is owned by company insiders.

Institutional Trading of Empire State Realty Trust

Several hedge funds have recently modified their holdings of the company. Vestcor Inc raised its stake in shares of Empire State Realty Trust by 308.6% during the 3rd quarter. Vestcor Inc now owns 125,231 shares of the real estate investment trust's stock worth $1,388,000 after acquiring an additional 94,582 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Empire State Realty Trust by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 1,615,985 shares of the real estate investment trust's stock worth $17,905,000 after purchasing an additional 98,850 shares in the last quarter. Vision Capital Corp lifted its holdings in shares of Empire State Realty Trust by 79.9% during the 3rd quarter. Vision Capital Corp now owns 2,802,948 shares of the real estate investment trust's stock valued at $31,057,000 after purchasing an additional 1,245,211 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Empire State Realty Trust by 95.4% in the 3rd quarter. Jane Street Group LLC now owns 228,587 shares of the real estate investment trust's stock worth $2,533,000 after purchasing an additional 111,589 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Empire State Realty Trust in the 3rd quarter worth $256,000. 67.10% of the stock is 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.