Empire State Realty Trust (NYSE:ESRT) Hits New 1-Year Low – What’s Next?

Empire State Realty Trust, Inc. (NYSE:ESRT)’s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $8.37 and last traded at $8.39, with a volume of 51104 shares changing hands. The stock had previously closed at $8.54.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ESRT shares. BMO Capital Markets boosted their price objective on Empire State Realty Trust from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. StockNews.com upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd.

Empire State Realty Trust Stock Down 0.4 %

The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. The stock has a 50-day moving average of $9.37 and a 200-day moving average of $10.30. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 29.45 and a beta of 1.39.

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

Empire State Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.035 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 1.70%. Empire State Realty Trust’s payout ratio is 50.00%.

Insider Transactions at Empire State Realty Trust

In related news, EVP Thomas P. Durels sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $10.10, for a total transaction of $101,000.00. Following the completion of the transaction, the executive vice president now owns 86,807 shares of the company’s stock, valued at $876,750.70. This trade represents a 10.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 13.95% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Employees Retirement System of Texas boosted its stake in Empire State Realty Trust by 81.6% during the fourth quarter. Employees Retirement System of Texas now owns 512,000 shares of the real estate investment trust’s stock valued at $5,284,000 after buying an additional 230,000 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in Empire State Realty Trust during the fourth quarter valued at about $26,000. Pinney & Scofield Inc. bought a new position in Empire State Realty Trust during the fourth quarter valued at about $103,000. Two Sigma Advisers LP boosted its stake in Empire State Realty Trust by 604.8% during the fourth quarter. Two Sigma Advisers LP now owns 132,500 shares of the real estate investment trust’s stock valued at $1,367,000 after buying an additional 113,700 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in Empire State Realty Trust by 650.7% during the fourth quarter. Two Sigma Investments LP now owns 185,596 shares of the real estate investment trust’s stock valued at $1,915,000 after buying an additional 160,872 shares in the last quarter. 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.