Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Sells $101,000.00 in 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Empire State Realty Trust Stock Performance

Shares of NYSE:ESRT opened at $10.19 on Friday. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. Empire State Realty Trust, Inc. has a 1-year low of $8.78 and a 1-year high of $11.62. The stock has a market capitalization of $1.70 billion, a P/E ratio of 37.74 and a beta of 1.40. The business has a 50-day moving average price of $10.82 and a two-hundred day moving average price of $10.49.

Empire State Realty Trust (NYSE:ESRT) last posted 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). Empire State Realty Trust had a return on equity of 2.73% and a net margin of 6.22%. The business had revenue of $199.60 million for the quarter. During the same period last year, the business posted $0.25 earnings per share. Equities analysts predict that Empire State Realty Trust, Inc. will post 0.93 earnings per share for the current year.

Empire State Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given 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 dividend payout ratio is currently 51.85%.

Analyst Upgrades and Downgrades

ESRT has been the topic of a number of research analyst reports. StockNews.com lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. 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 report on Friday, November 15th. Finally, Wells Fargo & Company boosted their price objective 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.

Institutional Investors Weigh In On Empire State Realty Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings in Empire State Realty Trust by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,758,869 shares of the real estate investment trust’s stock worth $41,648,000 after buying an additional 171,056 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Empire State Realty Trust by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,406,925 shares of the real estate investment trust’s stock valued at $37,756,000 after acquiring an additional 38,529 shares during the period. Vision Capital Corp grew its holdings in Empire State Realty Trust by 79.9% during the third quarter. Vision Capital Corp now owns 2,802,948 shares of the real estate investment trust’s stock valued at $31,057,000 after purchasing an additional 1,245,211 shares during the period. JPMorgan Chase & Co. grew its holdings in Empire State Realty Trust by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 1,615,985 shares of the real estate investment trust’s stock valued at $17,905,000 after purchasing an additional 98,850 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Empire State Realty Trust by 392.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,099,288 shares of the real estate investment trust’s stock valued at $12,180,000 after purchasing an additional 875,836 shares in the last quarter. 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.