Empire State Realty Trust (NYSE:ESRT) Issues FY 2024 Earnings Guidance

Empire State Realty Trust (NYSE:ESRT) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 0.920-0.940 for the period, compared to the consensus EPS estimate of 0.930. The company issued revenue guidance of -.

Empire State Realty Trust Stock Down 0.6 %

Shares of NYSE ESRT traded down $0.06 during mid-day trading on Thursday, reaching $10.84. The company had a trading volume of 47,917 shares, compared to its average volume of 1,123,869. The stock has a fifty day moving average of $10.76 and a two-hundred day moving average of $10.03. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.24 and a current ratio of 3.24. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 36.33 and a beta of 1.40. Empire State Realty Trust has a 12-month low of $7.34 and a 12-month high of $11.62.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). The company had revenue of $199.60 million during the quarter. Empire State Realty Trust had a return on equity of 2.57% and a net margin of 5.89%. During the same period last year, the business earned $0.25 earnings per share. As a group, equities research analysts expect that Empire State Realty Trust will post 0.92 EPS 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. Investors of record on Monday, September 16th were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Monday, September 16th. Empire State Realty Trust’s payout ratio is presently 46.67%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. BMO Capital Markets raised their price objective 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. Wells Fargo & Company lifted 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, 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.

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.