Thomas P. Durels Sells 11,843 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT) Stock

Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels sold 11,843 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $8.02, for a total transaction of $94,980.86. Following the transaction, the executive vice president now directly owns 44,185 shares of the company’s stock, valued at $354,363.70. This trade represents a 21.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Empire State Realty Trust Price Performance

ESRT opened at $8.04 on Thursday. Empire State Realty Trust, Inc. has a 52-week low of $7.88 and a 52-week high of $11.62. The company has a 50 day moving average of $8.94 and a two-hundred day moving average of $10.09. The company has a market cap of $1.35 billion, a P/E ratio of 28.70 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 announced its quarterly earnings results 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 firm had revenue of $155.13 million during the quarter, compared to analysts’ expectations of $192.62 million. On average, analysts expect that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current year.

Empire State Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.035 per share. The ex-dividend date is Friday, March 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.74%. Empire State Realty Trust’s dividend payout ratio is currently 50.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ESRT. Summit Investment Advisors Inc. lifted its holdings 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 worth $147,000 after buying an additional 1,131 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Empire State Realty Trust by 4.5% during the third quarter. BNP Paribas Financial Markets now owns 28,391 shares of the real estate investment trust’s stock worth $315,000 after acquiring an additional 1,231 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Empire State Realty Trust by 2.7% in the fourth quarter. State of Alaska Department of Revenue now owns 65,276 shares of the real estate investment trust’s stock worth $672,000 after acquiring an additional 1,722 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Empire State Realty Trust by 2.3% in the fourth quarter. MetLife Investment Management LLC now owns 83,357 shares of the real estate investment trust’s stock valued at $860,000 after purchasing an additional 1,855 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Empire State Realty Trust during the 3rd quarter valued at approximately $25,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wolfe Research upgraded 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. StockNews.com downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, March 19th.

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.