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 Empire State Realty Trust stock in a transaction on Friday, March 21st. The shares were sold at an average price of $8.03, for a total transaction 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 $449,904.84. This represents a 9.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Empire State Realty Trust Stock Performance

NYSE ESRT opened at $7.93 on Friday. The company has a market cap of $1.33 billion, a P/E ratio of 28.34 and a beta of 1.39. The company has a fifty day simple moving average of $8.90 and a 200 day simple moving average of $10.08. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. Empire State Realty Trust, Inc. has a 12-month low of $7.88 and a 12-month high of $11.62.

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, beating analysts’ consensus estimates of $0.05 by $0.19. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. The firm had revenue of $155.13 million during the quarter, compared to analysts’ expectations of $192.62 million. Sell-side analysts predict that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The business also recently disclosed 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. This represents a $0.14 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Friday, March 14th. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 50.00%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Empire State Realty Trust in the 3rd quarter valued at $25,000. GF Fund Management CO. LTD. bought a new stake in shares of Empire State Realty Trust in the 4th quarter worth $26,000. Sterling Capital Management LLC raised its holdings in shares of Empire State Realty Trust by 819.7% in 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 purchasing an additional 3,828 shares during the last quarter. Loomis Sayles & Co. L P lifted 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 purchased a new position in Empire State Realty Trust during the fourth quarter worth about $54,000. Institutional investors own 67.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms 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 target for the company in a report on Tuesday. StockNews.com downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note 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.