Brokerages expect that Empire State Realty Trust Inc (NYSE:ESRT) will report $0.23 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Empire State Realty Trust’s earnings. The highest EPS estimate is $0.23 and the lowest is $0.22. Empire State Realty Trust reported earnings per share of $0.24 during the same quarter last year, which indicates a negative year over year growth rate of 4.2%. The business is scheduled to report its next earnings report after the market closes on Wednesday, July 24th.
On average, analysts expect that Empire State Realty Trust will report full year earnings of $0.88 per share for the current year, with EPS estimates ranging from $0.87 to $0.90. For the next fiscal year, analysts anticipate that the business will report earnings of $0.94 per share, with EPS estimates ranging from $0.93 to $0.96. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Empire State Realty Trust.
Empire State Realty Trust (NYSE:ESRT) last issued its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The company had revenue of $143.40 million during the quarter, compared to the consensus estimate of $123.77 million. Empire State Realty Trust had a return on equity of 3.81% and a net margin of 10.32%. Empire State Realty Trust’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 EPS.
Several research analysts have weighed in on the company. Zacks Investment Research upgraded Empire State Realty Trust from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a report on Wednesday, April 24th. ValuEngine upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Empire State Realty Trust has an average rating of “Hold” and a consensus price target of $19.25.
Several hedge funds and other institutional investors have recently made changes to their positions in ESRT. Norges Bank purchased a new stake in shares of Empire State Realty Trust during the 4th quarter valued at $25,447,000. Cohen & Steers Inc. grew its stake in shares of Empire State Realty Trust by 58.1% during the 4th quarter. Cohen & Steers Inc. now owns 4,097,500 shares of the real estate investment trust’s stock valued at $58,307,000 after buying an additional 1,505,327 shares during the period. Janus Henderson Group PLC purchased a new stake in Empire State Realty Trust during the 1st quarter worth $22,778,000. Bank of New York Mellon Corp boosted its position in Empire State Realty Trust by 164.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,801,217 shares of the real estate investment trust’s stock worth $25,631,000 after purchasing an additional 1,118,810 shares during the period. Finally, Vanguard Group Inc boosted its position in Empire State Realty Trust by 2.6% during the 3rd quarter. Vanguard Group Inc now owns 22,032,609 shares of the real estate investment trust’s stock worth $365,961,000 after purchasing an additional 550,352 shares during the period. 75.07% of the stock is owned by institutional investors.
ESRT traded up $0.24 during trading on Friday, hitting $14.81. The company’s stock had a trading volume of 1,474,738 shares, compared to its average volume of 1,595,946. The business has a 50 day simple moving average of $15.43. The company has a debt-to-equity ratio of 0.99, a quick ratio of 6.90 and a current ratio of 6.90. The stock has a market cap of $2.62 billion, a PE ratio of 15.11, a PEG ratio of 5.96 and a beta of 0.83. Empire State Realty Trust has a twelve month low of $13.66 and a twelve month high of $17.86.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.105 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.42 annualized dividend and a yield of 2.84%. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 42.86%.
Empire State Realty Trust Company Profile
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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