Empire State Realty Trust (NYSE:ESRT) Sets New 52-Week High at $11.41

Empire State Realty Trust, Inc. (NYSE:ESRT) reached a new 52-week high on Tuesday . The company traded as high as $11.41 and last traded at $11.40, with a volume of 534622 shares trading hands. The stock had previously closed at $11.09.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ESRT. StockNews.com downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Friday, July 26th. BMO Capital Markets lifted their price target 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. Finally, Wells Fargo & Company lifted 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.

Empire State Realty Trust Trading Up 2.1 %

The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 36.83, a P/E/G ratio of 6.11 and a beta of 1.40. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.24 and a quick ratio of 3.24. The firm’s 50-day simple moving average is $10.52 and its 200 day simple moving average is $9.83.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $189.54 million for the quarter. During the same period in the prior year, the company posted $0.26 EPS. Equities analysts expect that Empire State Realty Trust, Inc. will post 0.94 earnings per share for the current year.

Empire State Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.035 per share. The ex-dividend date is Monday, September 16th. This represents a $0.14 annualized dividend and a yield of 1.24%. Empire State Realty Trust’s dividend payout ratio is currently 46.67%.

Institutional Investors Weigh In On Empire State Realty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Lighthouse Investment Partners LLC bought a new position in Empire State Realty Trust in the 2nd quarter valued at approximately $7,926,000. The Manufacturers Life Insurance Company raised its holdings in Empire State Realty Trust by 7.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 71,143 shares of the real estate investment trust’s stock valued at $667,000 after buying an additional 4,708 shares during the last quarter. AXA S.A. raised its holdings in Empire State Realty Trust by 353.2% in the 2nd quarter. AXA S.A. now owns 171,748 shares of the real estate investment trust’s stock valued at $1,611,000 after buying an additional 133,848 shares during the last quarter. 1832 Asset Management L.P. bought a new position in Empire State Realty Trust in the 2nd quarter valued at approximately $4,573,000. Finally, Thrivent Financial for Lutherans raised its holdings in Empire State Realty Trust by 4.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 83,665 shares of the real estate investment trust’s stock valued at $785,000 after buying an additional 3,239 shares during 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.