Shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $7.99, but opened at $8.29. Empire State Realty Trust shares last traded at $8.04, with a volume of 82,391 shares changing hands.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on ESRT shares. StockNews.com downgraded Empire State Realty Trust from a "hold" rating to a "sell" rating in a research note on Wednesday, March 19th. Wolfe Research upgraded shares of Empire State Realty Trust from a "peer perform" rating to an "outperform" rating and set a $10.00 target price for the company in a research report on Tuesday.
Read Our Latest Research Report on Empire State Realty Trust
Empire State Realty Trust Stock Performance
The business has a 50-day simple moving average of $8.87 and a 200 day simple moving average of $10.06. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. The firm has a market cap of $1.31 billion, a PE ratio of 27.95 and a beta of 1.39.
Empire State Realty Trust (NYSE:ESRT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.19. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. The company had revenue of $155.13 million during the quarter, compared to the consensus estimate of $192.62 million. Equities research analysts forecast that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.
Empire State Realty Trust Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.035 per share. The ex-dividend date is Friday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 1.79%. Empire State Realty Trust's payout ratio is 50.00%.
Insider Buying and Selling
In other Empire State Realty Trust news, EVP Thomas P. Durels sold 11,843 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $8.02, for a total transaction of $94,980.86. Following the sale, the executive vice president now directly owns 44,185 shares of the company's stock, valued at $354,363.70. This trade represents a 21.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 30,122 shares of company stock valued at $242,761. Company insiders own 13.95% of the company's stock.
Institutional Trading of Empire State Realty Trust
Institutional investors have recently made changes to their positions in the business. Vestcor Inc lifted its holdings in Empire State Realty Trust by 308.6% in the 3rd quarter. Vestcor Inc now owns 125,231 shares of the real estate investment trust's stock worth $1,388,000 after purchasing an additional 94,582 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Empire State Realty Trust by 6.5% in 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 buying an additional 98,850 shares in the last quarter. Wolverine Asset Management LLC boosted its position in shares of Empire State Realty Trust by 143.8% during the fourth quarter. Wolverine Asset Management LLC now owns 262,689 shares of the real estate investment trust's stock worth $2,711,000 after acquiring an additional 154,920 shares during the last quarter. Jane Street Group LLC grew its stake in Empire State Realty Trust by 95.4% during the third quarter. Jane Street Group LLC now owns 228,587 shares of the real estate investment trust's stock valued at $2,533,000 after acquiring an additional 111,589 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in 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 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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