StockNews.com lowered shares of Empire State Realty Trust (NYSE:ESRT - Free Report) from a hold rating to a sell rating in a research note issued to investors on Wednesday.
Empire State Realty Trust Price Performance
Shares of NYSE:ESRT traded down $0.25 during midday trading on Wednesday, reaching $7.96. The company's stock had a trading volume of 2,066,114 shares, compared to its average volume of 1,115,550. Empire State Realty Trust has a fifty-two week low of $7.88 and a fifty-two week high of $11.62. The business's fifty day simple moving average is $9.03 and its 200-day simple moving average is $10.14. The company has a market capitalization of $1.33 billion, a P/E ratio of 28.41 and a beta of 1.39. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72.
Empire State Realty Trust (NYSE:ESRT - Get Free Report) last released its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.19. The firm had revenue of $155.13 million for the quarter, compared to analyst estimates of $192.62 million. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. As a group, equities research analysts expect that Empire State Realty Trust will post 0.88 EPS for the current fiscal year.
Empire State Realty Trust Announces Dividend
The business 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. This represents a $0.14 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Friday, March 14th. Empire State Realty Trust's dividend payout ratio is 50.00%.
Insider Transactions at Empire State Realty Trust
In related news, EVP Thomas P. Durels sold 12,500 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $8.11, for a total transaction of $101,375.00. Following the transaction, the executive vice president now directly owns 74,307 shares in the company, valued at approximately $602,629.77. The trade was a 14.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.95% of the stock is owned by insiders.
Institutional Trading of Empire State Realty Trust
A number of hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. grew its stake in Empire State Realty Trust by 3.3% in the 3rd quarter. Principal Financial Group Inc. now owns 98,013 shares of the real estate investment trust's stock valued at $1,086,000 after buying an additional 3,141 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Empire State Realty Trust in the third quarter valued at approximately $256,000. Victory Capital Management Inc. increased its stake in shares of Empire State Realty Trust by 7.3% during the third quarter. Victory Capital Management Inc. now owns 262,687 shares of the real estate investment trust's stock worth $2,911,000 after purchasing an additional 17,777 shares during the period. Metis Global Partners LLC lifted its holdings in Empire State Realty Trust by 38.8% during the 3rd quarter. Metis Global Partners LLC now owns 14,265 shares of the real estate investment trust's stock worth $158,000 after purchasing an additional 3,987 shares during the last quarter. Finally, Natixis Advisors LLC bought a new stake in Empire State Realty Trust in the 3rd quarter valued at $844,000. 67.10% of the stock is owned by institutional investors and hedge funds.
About Empire State Realty Trust
(
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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