Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Sells $101,375.00 in Stock

Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $8.11, for a total value of $101,375.00. Following the completion of the sale, the executive vice president now owns 74,307 shares in the company, valued at approximately $602,629.77. This represents a 14.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Empire State Realty Trust Stock Down 3.0 %

NYSE ESRT opened at $7.96 on Friday. The firm has a market cap of $1.33 billion, a PE ratio of 28.41 and a beta of 1.39. Empire State Realty Trust, Inc. has a one year low of $7.88 and a one year high of $11.62. The stock’s 50 day simple moving average is $9.03 and its 200 day simple moving average is $10.14. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.19. The business had revenue of $155.13 million for the quarter, compared to analyst estimates of $192.62 million. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. As a group, sell-side analysts forecast that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current fiscal year.

Empire State Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.035 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.14 dividend on an annualized basis and a yield of 1.76%. Empire State Realty Trust’s payout ratio is 50.00%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Summit Investment Advisors Inc. boosted its position in Empire State Realty Trust by 8.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 14,263 shares of the real estate investment trust’s stock valued at $147,000 after buying an additional 1,131 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Empire State Realty Trust by 4.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 28,391 shares of the real estate investment trust’s stock valued at $315,000 after buying an additional 1,231 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Empire State Realty Trust by 2.7% in the 4th quarter. State of Alaska Department of Revenue now owns 65,276 shares of the real estate investment trust’s stock valued at $672,000 after buying an additional 1,722 shares during the last quarter. MetLife Investment Management LLC boosted its position in Empire State Realty Trust by 2.3% in the 4th quarter. MetLife Investment Management LLC now owns 83,357 shares of the real estate investment trust’s stock valued at $860,000 after buying an additional 1,855 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Empire State Realty Trust in the 3rd quarter valued at $25,000. 67.10% of the stock is currently owned by institutional investors.

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.