Empire State Realty Trust (NYSE:ESRT) Issues FY 2024 Earnings Guidance

Empire State Realty Trust (NYSE:ESRT) issued an update on its FY 2024 earnings guidance on Monday morning. 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 -.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ESRT. BMO Capital Markets lifted their target price on Empire State Realty Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. StockNews.com lowered Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company increased their target price on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Wednesday, September 11th.

Empire State Realty Trust Trading Down 1.8 %

ESRT traded down $0.20 during trading on Monday, reaching $11.21. 1,265,594 shares of the stock traded hands, compared to its average volume of 1,122,098. The stock’s 50-day moving average is $10.71 and its 200 day moving average is $10.00. Empire State Realty Trust has a 12 month low of $7.34 and a 12 month high of $11.62. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $1.85 billion, a PE ratio of 37.20 and a beta of 1.40.

Empire State Realty Trust (NYSE:ESRT) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.14). The business 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 period in the prior year, the company earned $0.26 earnings per share. Equities analysts anticipate that Empire State Realty Trust will post 0.92 earnings per share for the current year.

Empire State Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.035 dividend. The ex-dividend date 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 currently 46.67%.

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.