Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Sells $101,000.00 in Stock

Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels sold 10,000 shares of Empire State Realty Trust stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $10.10, for a total transaction of $101,000.00. Following the transaction, the executive vice president now directly owns 86,807 shares in the company, valued at $876,750.70. This trade represents a 10.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Empire State Realty Trust Trading Down 1.9 %

Shares of NYSE ESRT traded down $0.20 during trading hours on Friday, hitting $10.19. The company’s stock had a trading volume of 695,132 shares, compared to its average volume of 1,122,430. The business has a 50-day simple moving average of $10.82 and a 200-day simple moving average of $10.49. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 37.74 and a beta of 1.40. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 3.72. Empire State Realty Trust, Inc. has a 12 month low of $8.78 and a 12 month high of $11.62.

Empire State Realty Trust (NYSE:ESRT) last posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.16). The business had revenue of $199.60 million for the quarter. Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.73%. During the same quarter in the previous year, the business earned $0.25 earnings per share. On average, analysts anticipate that Empire State Realty Trust, Inc. will post 0.93 earnings per share for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Monday, December 16th. Empire State Realty Trust’s payout ratio is 51.85%.

Analysts Set New Price Targets

ESRT has been the subject of several recent research reports. StockNews.com downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd. BMO Capital Markets lifted their price target on Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company increased their price objective on Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Wednesday, September 11th.

Hedge Funds Weigh In On Empire State Realty Trust

Institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System raised its position in shares of Empire State Realty Trust by 2.9% in the 2nd quarter. Arizona State Retirement System now owns 38,808 shares of the real estate investment trust’s stock worth $364,000 after acquiring an additional 1,083 shares in the last quarter. Van ECK Associates Corp grew its stake in Empire State Realty Trust by 5.4% in the second quarter. Van ECK Associates Corp now owns 23,718 shares of the real estate investment trust’s stock worth $222,000 after purchasing an additional 1,221 shares during the period. BNP Paribas Financial Markets raised its holdings in Empire State Realty Trust by 4.5% in the third quarter. BNP Paribas Financial Markets now owns 28,391 shares of the real estate investment trust’s stock worth $315,000 after purchasing an additional 1,231 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Empire State Realty Trust by 35.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 1,419 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in shares of Empire State Realty Trust by 0.4% during the 2nd quarter. Federated Hermes Inc. now owns 343,637 shares of the real estate investment trust’s stock valued at $3,223,000 after buying an additional 1,428 shares in the last quarter. 67.10% of the stock is owned by institutional investors.

About Empire State Realty Trust

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.