Empire State Realty Trust (NYSE:ESRT) Reaches New 1-Year Low - What's Next?

Shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $8.60 and last traded at $8.56, with a volume of 1242901 shares trading hands. The stock had previously closed at $8.92.

Wall Street Analyst Weigh In

ESRT has been the topic of a number of analyst reports. BMO Capital Markets boosted their price objective on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the company an "outperform" rating in a research report on Friday, November 15th. StockNews.com upgraded shares of Empire State Realty Trust from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd.

Empire State Realty Trust Price Performance

The business's 50-day simple moving average is $9.44 and its 200-day simple moving average is $10.32. The stock has a market cap of $1.42 billion, a PE ratio of 30.41 and a beta of 1.40. 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 for the quarter, beating analysts' consensus estimates of $0.05 by $0.19. The firm had revenue of $155.13 million for the quarter, compared to analyst estimates of $192.62 million. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. On average, research analysts expect that Empire State Realty Trust, Inc. will post 0.88 EPS for the current fiscal year.

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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 paid 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 payout ratio is 50.00%.

Insider Activity

In other news, EVP Thomas P. Durels sold 3,193 shares of Empire State Realty Trust 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 owns 96,807 shares of the company's stock, valued at approximately $1,055,196.30. The trade was a 3.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 13.95% of the company's stock.

Institutional Investors Weigh In On Empire State Realty Trust

A number of large investors have recently modified their holdings of ESRT. Creative Planning boosted its stake in Empire State Realty Trust by 20.5% during the third quarter. Creative Planning now owns 12,598 shares of the real estate investment trust's stock worth $140,000 after acquiring an additional 2,145 shares in the last quarter. Van ECK Associates Corp boosted its stake in Empire State Realty Trust by 11.5% during the third quarter. Van ECK Associates Corp now owns 26,453 shares of the real estate investment trust's stock worth $288,000 after acquiring an additional 2,735 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in Empire State Realty Trust by 2.2% during the third quarter. Asset Management One Co. Ltd. now owns 211,724 shares of the real estate investment trust's stock worth $2,346,000 after acquiring an additional 4,581 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Empire State Realty Trust by 17.0% during the third quarter. QRG Capital Management Inc. now owns 18,064 shares of the real estate investment trust's stock worth $200,000 after acquiring an additional 2,630 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Empire State Realty Trust by 3.3% during the third quarter. Principal Financial Group Inc. now owns 98,013 shares of the real estate investment trust's stock worth $1,086,000 after acquiring an additional 3,141 shares in the last quarter. Institutional investors own 67.10% of the company's stock.

Empire State Realty Trust Company Profile

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.