Empire State Realty Trust (NYSE:ESRT) Reaches New 1-Year Low – Here’s What Happened

Empire State Realty Trust, Inc. (NYSE:ESRT)’s share price reached a new 52-week low on Thursday . The stock traded as low as $8.66 and last traded at $8.91, with a volume of 871483 shares changing hands. The stock had previously closed at $9.01.

Analysts Set New Price Targets

A number of analysts have issued reports on ESRT shares. StockNews.com lowered Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Thursday, January 23rd. BMO Capital Markets boosted their price objective on Empire State Realty Trust from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 15th.

Empire State Realty Trust Stock Down 0.5 %

The business’s fifty day moving average is $9.82 and its two-hundred day moving average is $10.43. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 33.20 and a beta of 1.40. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23.

Empire State Realty Trust (NYSE:ESRT) last issued its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 EPS for the quarter, beating the consensus estimate of $0.05 by $0.19. Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.73%. The company had revenue of $155.13 million during the quarter, compared to analysts’ expectations of $192.62 million. Equities analysts forecast that Empire State Realty Trust, Inc. will post 0.93 earnings per share for the current fiscal year.

Empire State Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.14 annualized dividend and a yield of 1.56%. Empire State Realty Trust’s dividend payout ratio (DPR) is 51.85%.

Insider Buying and Selling at Empire State Realty Trust

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $10.10, for a total transaction of $101,000.00. Following the completion of the transaction, the executive vice president now owns 86,807 shares in the company, valued at $876,750.70. The trade was a 10.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 13.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Empire State Realty Trust

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Empire State Realty Trust during the 3rd quarter worth about $25,000. GF Fund Management CO. LTD. acquired a new stake in shares of Empire State Realty Trust during the 4th quarter worth about $26,000. Signaturefd LLC lifted its stake in 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 purchasing an additional 1,524 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in Empire State Realty Trust by 819.7% in the fourth quarter. Sterling Capital Management LLC now owns 4,295 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 3,828 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in Empire State Realty Trust by 3,139.1% in the third quarter. Loomis Sayles & Co. L P now owns 4,470 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 4,332 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.