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 company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $10.10, for a total value of $101,000.00. Following the completion of the transaction, the executive vice president now directly owns 86,807 shares of the company’s stock, valued at approximately $876,750.70. The trade was a 10.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Empire State Realty Trust Trading Down 1.9 %

Shares of ESRT stock opened at $10.19 on Friday. Empire State Realty Trust, Inc. has a 1-year low of $8.78 and a 1-year high of $11.62. 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 stock has a market cap of $1.70 billion, a price-to-earnings ratio of 37.74 and a beta of 1.40. The stock has a 50-day moving average of $10.80 and a 200-day moving average of $10.50.

Empire State Realty Trust (NYSE:ESRT) last released 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). Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.73%. The firm had revenue of $199.60 million for the quarter. During the same period in the previous year, the company earned $0.25 earnings per share. On average, equities research analysts forecast that Empire State Realty Trust, Inc. will post 0.93 earnings per share for the current year.

Empire State Realty Trust Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Empire State Realty Trust

A number of institutional investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Empire State Realty Trust in the 3rd quarter worth about $25,000. Signaturefd LLC grew its stake in Empire State Realty Trust by 81.6% during the third quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 1,524 shares during the period. Loomis Sayles & Co. L P increased its holdings in Empire State Realty Trust by 3,139.1% in the third quarter. Loomis Sayles & Co. L P now owns 4,470 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 4,332 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Empire State Realty Trust by 35.5% in the third 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 buying an additional 1,419 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of Empire State Realty Trust during the 3rd quarter worth approximately $115,000. Institutional investors own 67.10% of the company’s stock.

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.