Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Sells $34,803.70 in Stock

Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels sold 3,193 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $10.90, for a total transaction of $34,803.70. Following the completion of the sale, the executive vice president now owns 96,807 shares in the company, valued at approximately $1,055,196.30. The trade was a 3.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Empire State Realty Trust Trading Up 0.9 %

Shares of NYSE ESRT opened at $10.15 on Friday. Empire State Realty Trust, Inc. has a 1-year low of $8.78 and a 1-year high of $11.62. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. The business’s 50 day moving average is $10.91 and its two-hundred day moving average is $10.47. The stock has a market capitalization of $1.69 billion, a P/E ratio of 37.59 and a beta of 1.40.

Empire State Realty Trust (NYSE:ESRT) last released its earnings results on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.16). The company had revenue of $199.60 million for the quarter. Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.73%. During the same quarter in the prior year, the company posted $0.25 earnings per share. As a group, research analysts expect that Empire State Realty Trust, Inc. will post 0.93 EPS for the current year.

Empire State Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.14 annualized dividend and a yield of 1.38%. Empire State Realty Trust’s payout ratio is 51.85%.

Analyst Upgrades and Downgrades

ESRT has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 11th. BMO Capital Markets boosted their price target on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Finally, StockNews.com downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd.

Institutional Trading of Empire State Realty Trust

Institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in shares of Empire State Realty Trust by 2.9% in the second quarter. Arizona State Retirement System now owns 38,808 shares of the real estate investment trust’s stock worth $364,000 after buying an additional 1,083 shares during the period. Van ECK Associates Corp grew its position in Empire State Realty Trust by 5.4% in the 2nd quarter. Van ECK Associates Corp now owns 23,718 shares of the real estate investment trust’s stock valued at $222,000 after acquiring an additional 1,221 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Empire State Realty Trust by 4.5% in the third quarter. BNP Paribas Financial Markets now owns 28,391 shares of the real estate investment trust’s stock worth $315,000 after purchasing an additional 1,231 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Empire State Realty Trust by 35.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 1,419 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Empire State Realty Trust by 0.4% in the second quarter. Federated Hermes Inc. now owns 343,637 shares of the real estate investment trust’s stock worth $3,223,000 after purchasing an additional 1,428 shares during 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.