Empire State Realty Trust, Inc. (NYSE:ESRT) Plans $0.04 Quarterly Dividend

Empire State Realty Trust, Inc. (NYSE:ESRT) announced a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.035 per share by the real estate investment trust on Monday, March 31st. This represents a $0.14 annualized dividend and a yield of 1.68%. The ex-dividend date is Friday, March 14th.

Empire State Realty Trust has raised its dividend payment by an average of 98.1% per year over the last three years.

Empire State Realty Trust Trading Up 1.2 %

Shares of NYSE ESRT traded up $0.10 during mid-day trading on Wednesday, hitting $8.33. The company’s stock had a trading volume of 96,464 shares, compared to its average volume of 1,290,909. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 29.79 and a beta of 1.39. The company’s fifty day simple moving average is $9.33 and its 200-day simple moving average is $10.28. Empire State Realty Trust has a one year low of $8.09 and a one year high of $11.62.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.19. The company had revenue of $155.13 million for the quarter, compared to the consensus estimate of $192.62 million. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. On average, sell-side analysts anticipate that Empire State Realty Trust will post 0.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Empire State Realty Trust

In related news, EVP Thomas P. Durels sold 3,193 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $10.90, for a total value of $34,803.70. Following the completion of the transaction, the executive vice president now directly owns 96,807 shares of the company’s stock, valued at approximately $1,055,196.30. This represents a 3.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. BMO Capital Markets upped their target price 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. StockNews.com raised Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd.

About Empire State Realty Trust

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.