Empire State Realty Trust (NYSE:ESRT - Get Free Report) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 0.920-0.940 for the period, compared to the consensus earnings per share estimate of 0.930. The company issued revenue guidance of -.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on ESRT. Wells Fargo & Company increased their price objective on Empire State Realty Trust from $7.00 to $10.00 and gave the stock an "underweight" rating in a research note on Wednesday, September 11th. BMO Capital Markets increased their price objective on Empire State Realty Trust from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, July 19th. Finally, StockNews.com cut Empire State Realty Trust from a "hold" rating to a "sell" rating in a research note on Friday, July 26th.
Read Our Latest Research Report on Empire State Realty Trust
Empire State Realty Trust Stock Down 1.6 %
NYSE ESRT traded down $0.19 during midday trading on Monday, hitting $11.23. 1,265,494 shares of the company traded hands, compared to its average volume of 1,122,098. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.24 and a quick ratio of 3.24. The company has a market cap of $1.85 billion, a PE ratio of 37.42 and a beta of 1.40. The company's 50-day simple moving average is $10.73 and its 200-day simple moving average is $10.01. Empire State Realty Trust has a 52 week low of $7.34 and a 52 week high of $11.62.
Empire State Realty Trust (NYSE:ESRT - Get Free Report) last announced its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.14). The company had revenue of $189.54 million for the quarter. Empire State Realty Trust had a net margin of 5.89% and a return on equity of 2.57%. During the same quarter in the previous year, the business earned $0.26 earnings per share. As a group, equities research analysts forecast that Empire State Realty Trust will post 0.92 earnings per share for the current year.
Empire State Realty Trust Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.25%. Empire State Realty Trust's payout ratio is 46.67%.
Empire State Realty Trust Company Profile
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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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