Empire State Realty Trust (NYSE:ESRT) Sets New 12-Month Low – What’s Next?

Empire State Realty Trust, Inc. (NYSE:ESRT)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $6.70 and last traded at $6.78, with a volume of 1943865 shares traded. The stock had previously closed at $7.04.

Analyst Ratings Changes

Several research firms have recently weighed in on ESRT. Wolfe Research raised shares of Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a report on Tuesday, March 25th. StockNews.com upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, April 3rd.

Empire State Realty Trust Trading Down 5.0 %

The company’s 50 day simple moving average is $8.37 and its 200-day simple moving average is $9.79. The firm has a market cap of $1.15 billion, a P/E ratio of 24.52 and a beta of 1.39. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23.

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

Empire State Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.035 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.14 annualized dividend and a yield of 2.04%. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 50.00%.

Insider Buying and Selling at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 5,779 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $8.03, for a total transaction of $46,405.37. Following the transaction, the executive vice president now owns 56,028 shares in the company, valued at $449,904.84. This represents a 9.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 30,122 shares of company stock valued at $242,761. 13.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Empire State Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of ESRT. Vanguard Group Inc. lifted its stake in Empire State Realty Trust by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 19,844,999 shares of the real estate investment trust’s stock valued at $204,800,000 after acquiring an additional 461,421 shares during the period. Ameriprise Financial Inc. boosted its holdings in Empire State Realty Trust by 42.4% in the fourth quarter. Ameriprise Financial Inc. now owns 9,235,041 shares of the real estate investment trust’s stock valued at $95,306,000 after purchasing an additional 2,750,045 shares during the last quarter. William Blair Investment Management LLC grew its position in Empire State Realty Trust by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 3,720,315 shares of the real estate investment trust’s stock worth $38,394,000 after purchasing an additional 90,758 shares during the period. Geode Capital Management LLC raised its stake in shares of Empire State Realty Trust by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 3,419,970 shares of the real estate investment trust’s stock valued at $35,302,000 after buying an additional 13,045 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of Empire State Realty Trust by 26.3% in the fourth quarter. Nuveen Asset Management LLC now owns 2,886,750 shares of the real estate investment trust’s stock worth $29,791,000 after buying an additional 601,077 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.