Empire State Realty Trust (NYSE:ESRT) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Empire State Realty Trust (NYSE:ESRT) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

Separately, BMO Capital Markets upped their target price on Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 15th.

Empire State Realty Trust Trading Up 0.7 %

ESRT opened at $9.60 on Tuesday. The company has a market cap of $1.60 billion, a P/E ratio of 35.54 and a beta of 1.41. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. The company’s 50 day moving average is $10.53 and its 200-day moving average is $10.56. Empire State Realty Trust has a 1-year low of $8.78 and a 1-year high of $11.62.

Empire State Realty Trust (NYSE:ESRT) last posted its 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 company 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 quarter in the previous year, the firm posted $0.25 earnings per share. Equities research analysts predict that Empire State Realty Trust will post 0.93 earnings per share for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Monday, December 16th. Empire State Realty Trust’s payout ratio is 51.85%.

Insider Buying and Selling at Empire State Realty Trust

In related news, EVP Thomas P. Durels sold 3,193 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $10.90, for a total value of $34,803.70. Following the sale, the executive vice president now owns 96,807 shares of the company’s stock, valued at $1,055,196.30. The trade was a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 14.01% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Empire State Realty Trust in the third quarter valued at about $25,000. Signaturefd LLC boosted its holdings in Empire State Realty Trust by 81.6% in the third quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 1,524 shares during the last quarter. Loomis Sayles & Co. L P increased its position in Empire State Realty Trust by 3,139.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 4,470 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 4,332 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 worth $59,000 after purchasing an additional 1,419 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Empire State Realty Trust in the 3rd quarter worth approximately $115,000. 67.10% of the stock is owned by institutional investors and hedge funds.

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.