Thomas P. Durels Sells 12,500 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT) Stock

Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels sold 12,500 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $8.11, for a total transaction of $101,375.00. Following the transaction, the executive vice president now directly owns 74,307 shares in the company, valued at approximately $602,629.77. This represents a 14.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Empire State Realty Trust Trading Down 3.0 %

Shares of ESRT stock opened at $7.96 on Friday. Empire State Realty Trust, Inc. has a 12-month low of $7.88 and a 12-month high of $11.62. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. The company has a 50 day moving average of $9.03 and a 200-day moving average of $10.15. The firm has a market cap of $1.33 billion, a P/E ratio of 28.41 and a beta of 1.39.

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

Empire State Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.76%. The ex-dividend date is Friday, March 14th. Empire State Realty Trust’s dividend payout ratio is presently 50.00%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday.

Hedge Funds Weigh In On Empire State Realty Trust

A number of hedge funds have recently modified their holdings of ESRT. Point72 Asia Singapore Pte. Ltd. bought a new stake in Empire State Realty Trust in the third quarter valued at $25,000. GF Fund Management CO. LTD. bought a new stake in shares of Empire State Realty Trust during the 4th quarter valued at about $26,000. Sterling Capital Management LLC boosted its stake in shares of Empire State Realty Trust by 819.7% during the 4th 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. Loomis Sayles & Co. L P increased its position in shares of Empire State Realty Trust by 3,139.1% during 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 buying an additional 4,332 shares during the period. Finally, State of Wyoming bought a new position in Empire State Realty Trust in the fourth quarter worth about $54,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

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.