Thomas P. Durels Sells 11,843 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT) Stock

Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels sold 11,843 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $8.02, for a total transaction of $94,980.86. Following the sale, the executive vice president now directly owns 44,185 shares of the company’s stock, valued at approximately $354,363.70. The trade was a 21.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Empire State Realty Trust Stock Down 0.1 %

ESRT opened at $7.98 on Wednesday. The stock has a market cap 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 quick ratio of 3.72 and a current ratio of 3.72. The firm’s fifty day moving average is $8.97 and its 200 day moving average is $10.10. Empire State Realty Trust, Inc. has a fifty-two week low of $7.88 and a fifty-two week high of $11.62.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.24 EPS for the quarter, beating 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 business had revenue of $155.13 million for the quarter, compared to the consensus estimate of $192.62 million. On average, sell-side analysts forecast that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current fiscal year.

Empire State Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 yield of 1.75%. Empire State Realty Trust’s payout ratio is 50.00%.

Institutional Investors Weigh In On Empire State Realty Trust

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on ESRT shares. Wolfe Research upgraded Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 target price on the stock in a research report on Tuesday. StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, March 19th.

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.