Empire State Realty Trust (NYSE:ESRT) Reaches New 12-Month Low – Time to Sell?

Empire State Realty Trust, Inc. (NYSE:ESRT) reached a new 52-week low during trading on Friday . The stock traded as low as $7.82 and last traded at $7.87, with a volume of 25550 shares traded. The stock had previously closed at $7.95.

Analyst Ratings Changes

Several brokerages have commented on ESRT. StockNews.com lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, March 19th. Wolfe Research upgraded Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 target price on the stock in a research report on Tuesday.

Empire State Realty Trust Stock Down 1.4 %

The stock has a market cap of $1.31 billion, a P/E ratio of 27.98 and a beta of 1.39. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. The stock’s 50-day moving average is $8.90 and its 200-day moving average is $10.08.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.19. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. The business had revenue of $155.13 million during the quarter, compared to analysts’ expectations of $192.62 million. As a group, research analysts anticipate that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current fiscal year.

Empire State Realty Trust Announces Dividend

The company also recently declared 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 1.79%. The ex-dividend date of this dividend is Friday, March 14th. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 50.00%.

Insider Activity

In other news, EVP Thomas P. Durels sold 5,779 shares of Empire State Realty Trust stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $8.03, for a total value of $46,405.37. Following the transaction, the executive vice president now owns 56,028 shares of the company’s stock, valued at $449,904.84. The trade was a 9.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 30,122 shares of company stock worth $242,761 over the last 90 days. 13.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Empire State Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Employees Retirement System of Texas increased its stake in Empire State Realty Trust by 81.6% in the 4th quarter. Employees Retirement System of Texas now owns 512,000 shares of the real estate investment trust’s stock worth $5,284,000 after purchasing an additional 230,000 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Empire State Realty Trust in the fourth quarter worth about $26,000. Pinney & Scofield Inc. purchased a new position in shares of Empire State Realty Trust in the fourth quarter worth approximately $103,000. Two Sigma Advisers LP raised its holdings in shares of Empire State Realty Trust by 604.8% during the fourth quarter. Two Sigma Advisers LP now owns 132,500 shares of the real estate investment trust’s stock valued at $1,367,000 after acquiring an additional 113,700 shares during the period. Finally, Two Sigma Investments LP raised its holdings in shares of Empire State Realty Trust by 650.7% during the fourth quarter. Two Sigma Investments LP now owns 185,596 shares of the real estate investment trust’s stock valued at $1,915,000 after acquiring an additional 160,872 shares during the period. 67.10% of the stock is owned by institutional investors and hedge funds.

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.