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 -.

Analyst Ratings Changes

A number of brokerages have issued reports on ESRT. Wells Fargo & Company increased their target price on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 11th. 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. Finally, BMO Capital Markets increased their target price on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th.

Empire State Realty Trust Stock Performance

Shares of NYSE:ESRT traded down $0.20 on Monday, reaching $11.21. 1,265,494 shares of the company’s stock were exchanged, compared to its average volume of 1,122,098. The company has a fifty day moving average of $10.71 and a 200-day moving average of $10.00. Empire State Realty Trust has a twelve month low of $7.34 and a twelve month high of $11.62. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 37.20 and a beta of 1.40. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.23.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly 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 firm had revenue of $189.54 million for the quarter. Empire State Realty Trust had a return on equity of 2.57% and a net margin of 5.89%. During the same quarter last year, the company earned $0.26 EPS. On average, research analysts predict that Empire State Realty Trust will post 0.92 EPS for the current fiscal year.

Empire State Realty Trust Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.14 annualized dividend and a dividend yield of 1.25%. Empire State Realty Trust’s dividend payout ratio is 46.67%.

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.