StockNews.com upgraded shares of Empire State Realty Trust (NYSE:ESRT - Free Report) from a sell rating to a hold rating in a research note released on Thursday.
Separately, 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 on the stock in a report on Tuesday, March 25th.
Get Our Latest Stock Analysis on Empire State Realty Trust
Empire State Realty Trust Stock Down 2.4 %
Shares of ESRT traded down $0.18 on Thursday, hitting $7.03. The company's stock had a trading volume of 1,790,915 shares, compared to its average volume of 1,346,206. The firm's fifty day moving average price is $8.66 and its 200-day moving average price is $9.95. Empire State Realty Trust has a fifty-two week low of $6.72 and a fifty-two week high of $11.62. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 25.12 and a beta of 1.39.
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 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 business had revenue of $155.13 million for the quarter, compared to analyst estimates of $192.62 million. On average, equities research analysts expect that Empire State Realty Trust 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. Investors of record on Friday, March 14th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Friday, March 14th. Empire State Realty Trust's dividend payout ratio (DPR) is presently 50.00%.
Insider Activity
In other news, EVP Thomas P. Durels sold 5,779 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $8.03, for a total transaction of $46,405.37. Following the completion of the transaction, the executive vice president now directly owns 56,028 shares in the company, valued at $449,904.84. This trade represents a 9.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 30,122 shares of company stock valued at $242,761. 13.95% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Empire State Realty Trust
A number of institutional investors have recently modified their holdings of the company. FMR LLC grew its holdings in Empire State Realty Trust by 28.2% during the 3rd quarter. FMR LLC now owns 467,285 shares of the real estate investment trust's stock worth $5,178,000 after acquiring an additional 102,658 shares during the period. BNP Paribas Financial Markets increased its holdings in Empire State Realty Trust by 4.5% in the third quarter. BNP Paribas Financial Markets now owns 28,391 shares of the real estate investment trust's stock worth $315,000 after purchasing an additional 1,231 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Empire State Realty Trust by 392.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,099,288 shares of the real estate investment trust's stock valued at $12,180,000 after buying an additional 875,836 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Empire State Realty Trust during the 3rd quarter worth approximately $25,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Empire State Realty Trust in the 3rd quarter valued at $115,000. 67.10% of the stock is owned by institutional investors.
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.
See Also
Before you consider Empire State Realty Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Empire State Realty Trust wasn't on the list.
While Empire State Realty Trust currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
