Empire State Realty Trust (NYSE:ESRT) Lowered to "Sell" Rating by StockNews.com

StockNews.com lowered shares of Empire State Realty Trust (NYSE:ESRT - Free Report) from a hold rating to a sell rating in a research report released on Saturday.

ESRT has been the topic of several other reports. BMO Capital Markets upped their target price on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, July 19th. Wells Fargo & Company raised their price objective on Empire State Realty Trust from $7.00 to $10.00 and gave the company an "underweight" rating in a research note on Wednesday, September 11th.

Empire State Realty Trust Stock Performance

Shares of ESRT stock traded down $0.11 during trading hours on Friday, reaching $10.49. 817,823 shares of the company's stock were exchanged, compared to its average volume of 1,121,174. The company has a debt-to-equity ratio of 1.24, a current ratio of 4.05 and a quick ratio of 4.05. The company's 50 day moving average is $10.83 and its two-hundred day moving average is $10.09. The company has a market cap of $1.75 billion, a P/E ratio of 38.85 and a beta of 1.40. Empire State Realty Trust has a 1 year low of $8.31 and a 1 year high of $11.62.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last released its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.16). Empire State Realty Trust had a return on equity of 2.74% and a net margin of 6.22%. The business had revenue of $199.60 million during the quarter. During the same period last year, the firm earned $0.25 EPS. Equities research analysts anticipate that Empire State Realty Trust will post 0.93 EPS for the current fiscal year.

Empire State Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.14 annualized dividend and a dividend yield of 1.33%. Empire State Realty Trust's dividend payout ratio is currently 51.85%.

Institutional Investors Weigh In On Empire State Realty Trust

A number of large investors have recently bought and sold shares of the stock. Signaturefd LLC grew its holdings in shares of Empire State Realty Trust by 81.6% during the third quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust's stock worth $38,000 after buying an additional 1,524 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Empire State Realty Trust by 35.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust's stock worth $59,000 after purchasing an additional 1,419 shares during the period. Ballentine Partners LLC acquired a new stake in shares of Empire State Realty Trust during the third quarter worth $129,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Empire State Realty Trust in the second quarter valued at $137,000. Finally, Creative Planning increased its stake in Empire State Realty Trust by 20.5% in the third quarter. Creative Planning now owns 12,598 shares of the real estate investment trust's stock valued at $140,000 after purchasing an additional 2,145 shares during the last quarter. Institutional investors and hedge funds 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.