Empire State Realty Trust (NYSE:ESRT) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Empire State Realty Trust (NYSE:ESRT) from a sell rating to a hold rating in a research report report published on Tuesday morning.

Separately, BMO Capital Markets upped their price target on Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 15th.

Empire State Realty Trust Stock Down 0.1 %

Shares of ESRT opened at $9.54 on Tuesday. Empire State Realty Trust has a 52 week low of $8.78 and a 52 week high of $11.62. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 35.33 and a beta of 1.41. The stock’s 50-day moving average price is $10.58 and its 200-day moving average price is $10.58.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). The business had revenue of $199.60 million during the quarter. Empire State Realty Trust had a return on equity of 2.73% and a net margin of 6.22%. During the same period last year, the firm earned $0.25 earnings per share. On average, sell-side analysts predict that Empire State Realty Trust will post 0.93 EPS for the current year.

Empire State Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.035 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.14 dividend on an annualized basis and a yield of 1.47%. Empire State Realty Trust’s payout ratio is 51.85%.

Insider Buying and Selling at Empire State Realty Trust

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 10,000 shares of the stock in a transaction that occurred on 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 represents a 10.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 13.95% of the company’s stock.

Hedge Funds Weigh In On Empire State Realty Trust

A number of hedge funds have recently made changes to their positions in the company. Arizona State Retirement System raised its holdings in shares of Empire State Realty Trust by 2.9% during the second quarter. Arizona State Retirement System now owns 38,808 shares of the real estate investment trust’s stock valued at $364,000 after acquiring an additional 1,083 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of 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 valued at $315,000 after purchasing an additional 1,231 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Empire State Realty Trust by 35.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 1,419 shares during the last quarter. Federated Hermes Inc. increased 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 valued at $3,223,000 after purchasing an additional 1,428 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Empire State Realty Trust by 81.6% in the third quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,524 shares during the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Empire State Realty Trust Company Profile

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.