Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Sells $94,980.86 in Stock

Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels sold 11,843 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $8.02, for a total value of $94,980.86. Following the sale, the executive vice president now directly owns 44,185 shares in the company, valued at $354,363.70. This trade represents a 21.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Empire State Realty Trust Price Performance

Shares of Empire State Realty Trust stock traded down $0.01 during trading on Tuesday, hitting $7.98. 1,367,254 shares of the company were exchanged, compared to its average volume of 1,114,620. Empire State Realty Trust, Inc. has a fifty-two week low of $7.88 and a fifty-two week high of $11.62. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. The firm has a 50 day moving average price of $9.00 and a 200 day moving average price of $10.12. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 28.50 and a beta of 1.39.

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

Empire State Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.14 dividend on an annualized basis and a yield of 1.75%. Empire State Realty Trust’s dividend payout ratio (DPR) is 50.00%.

Wall Street Analyst Weigh In

ESRT has been the subject of several research reports. Wolfe Research raised Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a report on Tuesday. StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, March 19th.

Institutional Investors Weigh In On Empire State Realty Trust

Hedge funds have recently modified their holdings of the company. Natixis Advisors LLC purchased a new position in shares of Empire State Realty Trust during the third quarter valued at approximately $844,000. Intech Investment Management LLC acquired a new position in Empire State Realty Trust in the 3rd quarter valued at $385,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Empire State Realty Trust by 4.8% during the 3rd 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 purchasing an additional 171,056 shares during the period. Algert Global LLC boosted its holdings in shares of Empire State Realty Trust by 42.0% during the third quarter. Algert Global LLC now owns 58,047 shares of the real estate investment trust’s stock worth $643,000 after purchasing an additional 17,160 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Empire State Realty Trust by 6.4% in the third quarter. Daiwa Securities Group Inc. now owns 44,950 shares of the real estate investment trust’s stock valued at $498,000 after purchasing an additional 2,717 shares during the period. 67.10% of the stock is owned by institutional investors and hedge funds.

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.