Empire State Realty Trust (NYSE:ESRT) Issues Quarterly Earnings Results

Empire State Realty Trust (NYSE:ESRT - Get Free Report) posted its quarterly earnings results on Monday. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.16), Yahoo Finance reports. Empire State Realty Trust had a return on equity of 2.57% and a net margin of 5.89%. The company had revenue of $199.60 million during the quarter. During the same quarter in the previous year, the business earned $0.25 earnings per share. Empire State Realty Trust updated its FY 2024 guidance to 0.920-0.940 EPS.

Empire State Realty Trust Price Performance

NYSE:ESRT traded down $0.03 during midday trading on Tuesday, hitting $11.18. The company had a trading volume of 1,381,408 shares, compared to its average volume of 1,123,369. Empire State Realty Trust has a 52-week low of $7.34 and a 52-week high of $11.62. The stock's fifty day moving average price is $10.73 and its 200-day moving average price is $10.01. The company has a market capitalization of $1.84 billion, a PE ratio of 37.27 and a beta of 1.40. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.23.

Empire State Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.035 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.14 annualized dividend and a yield of 1.25%. Empire State Realty Trust's dividend payout ratio (DPR) is presently 46.67%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ESRT. StockNews.com lowered shares of Empire State Realty Trust from a "hold" rating to a "sell" rating in a research report on Friday, July 26th. Wells Fargo & Company boosted their price target on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the company an "underweight" rating in a research report on Wednesday, September 11th. Finally, BMO Capital Markets boosted their price target on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, July 19th.

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.