Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Sells $46,405.37 in Stock

Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels sold 5,779 shares of the business’s 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 completion of the sale, the executive vice president now owns 56,028 shares of the company’s stock, valued at approximately $449,904.84. This trade represents a 9.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Empire State Realty Trust Trading Down 0.1 %

Shares of Empire State Realty Trust stock traded down $0.01 on Tuesday, hitting $7.98. 1,367,254 shares of the company’s stock traded hands, compared to its average volume of 1,114,620. The company has a fifty day moving average of $9.00 and a two-hundred day moving average of $10.12. Empire State Realty Trust, Inc. has a one year low of $7.88 and a one year high of $11.62. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 28.50 and a beta of 1.39. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72.

Empire State Realty Trust (NYSE:ESRT) last released 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 analysts’ expectations of $192.62 million. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. As a group, sell-side analysts expect 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. Stockholders of record on Friday, March 14th will be issued a $0.035 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.75%. Empire State Realty Trust’s dividend payout ratio is presently 50.00%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Empire State Realty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Empire State Realty Trust in the 3rd quarter worth $25,000. GF Fund Management CO. LTD. bought a new stake in shares of Empire State Realty Trust during the 4th quarter worth $26,000. Sterling Capital Management LLC grew its position in Empire State Realty Trust by 819.7% during 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 buying an additional 3,828 shares during the period. Loomis Sayles & Co. L P increased its holdings in 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 worth $50,000 after buying an additional 4,332 shares during the last quarter. Finally, State of Wyoming bought a new stake in Empire State Realty Trust in the fourth quarter worth about $54,000. 67.10% of the stock is owned by hedge funds and other 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.