Empire State Realty Trust (NYSE:ESRT – Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.920-0.940 for the period, compared to the consensus earnings per share estimate of 0.930. The company issued revenue guidance of -.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the stock. BMO Capital Markets boosted their target price on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Wells Fargo & Company upped their target price on Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 11th. Finally, StockNews.com downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Friday, July 26th.
View Our Latest Stock Analysis on ESRT
Empire State Realty Trust Price Performance
Empire State Realty Trust (NYSE:ESRT – Get Free Report) last issued its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.14). Empire State Realty Trust had a net margin of 5.89% and a return on equity of 2.57%. The company had revenue of $189.54 million during the quarter. During the same quarter in the prior year, the company earned $0.26 EPS. Analysts expect that Empire State Realty Trust will post 0.92 EPS for the current year.
Empire State Realty Trust Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.035 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.14 annualized dividend and a yield of 1.25%. Empire State Realty Trust’s dividend payout ratio is presently 46.67%.
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.
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