Thomas P. Durels Sells 10,000 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT) Stock

Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels sold 10,000 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $10.10, for a total value of $101,000.00. Following the transaction, the executive vice president now owns 86,807 shares in the company, valued at $876,750.70. The trade was a 10.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Empire State Realty Trust Trading Down 1.9 %

ESRT opened at $10.19 on Friday. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 37.74 and a beta of 1.40. 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, Inc. has a twelve month low of $8.78 and a twelve month high of $11.62. The company has a 50-day simple moving average of $10.80 and a 200 day simple moving average of $10.50.

Empire State Realty Trust (NYSE:ESRT) last issued its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). The firm had revenue of $199.60 million for the quarter. Empire State Realty Trust had a return on equity of 2.73% and a net margin of 6.22%. During the same period in the previous year, the business posted $0.25 earnings per share. Analysts predict that Empire State Realty Trust, Inc. will post 0.93 EPS for the current fiscal year.

Empire State Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.035 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.14 annualized dividend and a dividend yield of 1.37%. Empire State Realty Trust’s payout ratio is 51.85%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 11th. BMO Capital Markets raised their target price on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Finally, StockNews.com downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 2nd.

Hedge Funds Weigh In On Empire State Realty Trust

A number of institutional investors have recently modified their holdings of the business. Arizona State Retirement System grew its position in Empire State Realty Trust by 2.9% in the second quarter. Arizona State Retirement System now owns 38,808 shares of the real estate investment trust’s stock valued at $364,000 after acquiring an additional 1,083 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Empire State Realty Trust by 5.4% in the second quarter. Van ECK Associates Corp now owns 23,718 shares of the real estate investment trust’s stock worth $222,000 after acquiring an additional 1,221 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of 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 purchasing an additional 1,231 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Empire State Realty Trust by 35.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 1,419 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in Empire State Realty Trust by 0.4% during the 2nd quarter. Federated Hermes Inc. now owns 343,637 shares of the real estate investment trust’s stock worth $3,223,000 after purchasing an additional 1,428 shares in the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

About Empire State Realty Trust

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.