Empire State Realty Trust (NYSE:ESRT) Lowered to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Empire State Realty Trust (NYSE:ESRT) from a hold rating to a sell rating in a report published on Thursday morning.

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

Empire State Realty Trust Stock Performance

Shares of ESRT opened at $9.67 on Thursday. The stock has a market capitalization of $1.61 billion, a P/E ratio of 35.80 and a beta of 1.41. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 3.72. Empire State Realty Trust has a 1 year low of $8.78 and a 1 year high of $11.62. The company’s fifty day moving average is $10.43 and its two-hundred day moving average is $10.58.

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 (EPS) 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 quarter last year, the business posted $0.25 EPS. On average, sell-side analysts predict that Empire State Realty Trust will post 0.93 earnings per share for the current year.

Empire State Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors 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 1.45%. The ex-dividend date was Monday, December 16th. Empire State Realty Trust’s dividend payout ratio is currently 51.85%.

Insiders Place Their Bets

In other news, EVP Thomas P. Durels sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $10.10, for a total transaction of $101,000.00. Following the sale, the executive vice president now owns 86,807 shares of the company’s stock, valued at $876,750.70. The trade was a 10.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Empire State Realty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Custom Index Systems LLC grew its holdings in Empire State Realty Trust by 17.3% in the fourth quarter. Custom Index Systems LLC now owns 19,292 shares of the real estate investment trust’s stock valued at $199,000 after purchasing an additional 2,845 shares during the last quarter. Vert Asset Management LLC boosted its position in shares of Empire State Realty Trust by 4.5% in the 4th quarter. Vert Asset Management LLC now owns 55,749 shares of the real estate investment trust’s stock worth $575,000 after buying an additional 2,400 shares in the last quarter. Inspire Investing LLC grew its stake in Empire State Realty Trust by 22.3% in the 4th quarter. Inspire Investing LLC now owns 45,771 shares of the real estate investment trust’s stock valued at $472,000 after acquiring an additional 8,346 shares during the last quarter. SG Americas Securities LLC increased its holdings in Empire State Realty Trust by 46.4% during the 4th quarter. SG Americas Securities LLC now owns 39,636 shares of the real estate investment trust’s stock valued at $409,000 after acquiring an additional 12,553 shares in the last quarter. Finally, Ballentine Partners LLC raised its position in Empire State Realty Trust by 22.8% during the fourth quarter. Ballentine Partners LLC now owns 14,349 shares of the real estate investment trust’s stock worth $148,000 after acquiring an additional 2,668 shares during the last quarter. 67.10% of the stock is owned by institutional investors and hedge funds.

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.