Brokerages forecast that Empire State Realty Trust Inc (NYSE:ESRT) will announce earnings of $0.18 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Empire State Realty Trust’s earnings, with the lowest EPS estimate coming in at $0.18 and the highest estimate coming in at $0.19. Empire State Realty Trust reported earnings per share of $0.20 in the same quarter last year, which suggests a negative year over year growth rate of 10%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, April 24th.
According to Zacks, analysts expect that Empire State Realty Trust will report full year earnings of $0.90 per share for the current financial year, with EPS estimates ranging from $0.88 to $0.91. For the next year, analysts forecast that the firm will post earnings of $0.94 per share, with EPS estimates ranging from $0.93 to $0.95. Zacks’ EPS averages are an average based on a survey of research analysts that cover Empire State Realty Trust.
Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings data on Wednesday, February 20th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.06. The company had revenue of $123.26 million for the quarter, compared to analysts’ expectations of $123.75 million. Empire State Realty Trust had a net margin of 10.86% and a return on equity of 4.01%. Empire State Realty Trust’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.25 earnings per share.
Several research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Empire State Realty Trust from a “buy” rating to a “hold” rating in a research report on Monday, March 25th. ValuEngine upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, March 7th. Finally, Citigroup assumed coverage on shares of Empire State Realty Trust in a research report on Thursday, February 28th. They issued a “neutral” rating and a $17.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, Empire State Realty Trust currently has a consensus rating of “Hold” and an average target price of $19.50.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio grew its position in Empire State Realty Trust by 4.0% during the first quarter. Strs Ohio now owns 217,414 shares of the real estate investment trust’s stock valued at $3,435,000 after acquiring an additional 8,275 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in Empire State Realty Trust during the first quarter valued at approximately $128,000. Resolution Capital Ltd grew its position in Empire State Realty Trust by 1.5% during the first quarter. Resolution Capital Ltd now owns 9,251,531 shares of the real estate investment trust’s stock valued at $146,174,000 after acquiring an additional 137,531 shares during the last quarter. Quantitative Systematic Strategies LLC grew its position in Empire State Realty Trust by 85.9% during the first quarter. Quantitative Systematic Strategies LLC now owns 86,740 shares of the real estate investment trust’s stock valued at $1,370,000 after acquiring an additional 40,077 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Empire State Realty Trust by 212.3% during the fourth quarter. Deutsche Bank AG now owns 127,587 shares of the real estate investment trust’s stock valued at $1,814,000 after acquiring an additional 86,739 shares during the last quarter. Institutional investors and hedge funds own 75.73% of the company’s stock.
Shares of ESRT stock traded up $0.06 during trading on Tuesday, hitting $15.20. The company had a trading volume of 1,020,478 shares, compared to its average volume of 925,289. The company has a current ratio of 6.90, a quick ratio of 6.90 and a debt-to-equity ratio of 0.96. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 6.00 and a beta of 0.93. Empire State Realty Trust has a 52 week low of $13.66 and a 52 week high of $17.86.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Thursday, March 14th. Empire State Realty Trust’s payout ratio is currently 42.86%.
About Empire State Realty Trust
Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world's most famous building.
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