Thomas P. Durels Sells 5,779 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT) Stock

Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels sold 5,779 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $8.03, for a total value of $46,405.37. Following the sale, the executive vice president now directly owns 56,028 shares of the company’s stock, valued at approximately $449,904.84. This represents a 9.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Empire State Realty Trust Stock Performance

Shares of ESRT opened at $7.93 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. The firm has a market cap of $1.33 billion, a PE ratio of 28.34 and a beta of 1.39. Empire State Realty Trust, Inc. has a 1 year low of $7.88 and a 1 year high of $11.62. The stock’s fifty day moving average price is $8.90 and its two-hundred day moving average price is $10.08.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.24 EPS for the quarter, beating the consensus estimate of $0.05 by $0.19. The business had revenue of $155.13 million for the quarter, compared to the consensus estimate of $192.62 million. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. On average, equities research analysts forecast that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.

Empire State Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.76%. The ex-dividend date is Friday, March 14th. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 50.00%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Vestcor Inc lifted its position in shares of Empire State Realty Trust by 308.6% during the third quarter. Vestcor Inc now owns 125,231 shares of the real estate investment trust’s stock worth $1,388,000 after acquiring an additional 94,582 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Empire State Realty Trust by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,615,985 shares of the real estate investment trust’s stock worth $17,905,000 after purchasing an additional 98,850 shares in the last quarter. Wolverine Asset Management LLC lifted its holdings in Empire State Realty Trust by 143.8% during the 4th quarter. Wolverine Asset Management LLC now owns 262,689 shares of the real estate investment trust’s stock worth $2,711,000 after purchasing an additional 154,920 shares in the last quarter. Vision Capital Corp boosted its stake in Empire State Realty Trust by 79.9% in the 3rd quarter. Vision Capital Corp now owns 2,802,948 shares of the real estate investment trust’s stock worth $31,057,000 after purchasing an additional 1,245,211 shares during the period. Finally, Jane Street Group LLC grew its holdings in Empire State Realty Trust by 95.4% during the 3rd quarter. Jane Street Group LLC now owns 228,587 shares of the real estate investment trust’s stock valued at $2,533,000 after buying an additional 111,589 shares in the last quarter. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ESRT. Wolfe Research upgraded shares of Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 price target for the company in a research report on Tuesday. StockNews.com cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note 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.