Empire State Realty Trust (NYSE:ESRT) Sets New 52-Week Low - Should You Sell?

Empire State Realty Trust, Inc. (NYSE:ESRT - Get Free Report) reached a new 52-week low on Wednesday . The company traded as low as $6.70 and last traded at $6.78, with a volume of 1943865 shares. The stock had previously closed at $7.04.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ESRT shares. StockNews.com upgraded Empire State Realty Trust from a "sell" rating to a "hold" rating in a research report on Thursday, April 3rd. Wolfe Research upgraded Empire State Realty Trust from a "peer perform" rating to an "outperform" rating and set a $10.00 price objective on the stock in a report on Tuesday, March 25th.

Empire State Realty Trust Price Performance

The business's 50-day simple moving average is $8.32 and its 200 day simple moving average is $9.76. The company has a market capitalization of $1.19 billion, a P/E ratio of 25.36 and a beta of 1.39. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.19. The company had revenue of $155.13 million during 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%. As a group, sell-side analysts anticipate that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.

Empire State Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Friday, March 14th. Empire State Realty Trust's dividend payout ratio (DPR) is presently 50.00%.

Insider Activity at Empire State Realty Trust

In related news, EVP Thomas P. Durels sold 12,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $8.11, for a total value of $101,375.00. Following the transaction, the executive vice president now directly owns 74,307 shares of the company's stock, valued at approximately $602,629.77. This trade represents a 14.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 30,122 shares of company stock valued at $242,761. 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 made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new position in Empire State Realty Trust during the 4th quarter valued at $26,000. Sterling Capital Management LLC lifted its position in shares of Empire State Realty Trust by 819.7% during the 4th quarter. Sterling Capital Management LLC now owns 4,295 shares of the real estate investment trust's stock worth $44,000 after buying an additional 3,828 shares during the period. State of Wyoming acquired a new stake in Empire State Realty Trust in the 4th quarter valued at $54,000. Pinney & Scofield Inc. bought a new stake in Empire State Realty Trust in the fourth quarter valued at $103,000. Finally, Versor Investments LP acquired a new position in Empire State Realty Trust during the fourth quarter worth $105,000. 67.10% of the stock is owned by institutional investors and hedge funds.

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.