Thomas P. Durels Sells 3,193 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT) Stock

Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels sold 3,193 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $10.90, for a total transaction of $34,803.70. Following the sale, the executive vice president now directly owns 96,807 shares of the company’s stock, valued at approximately $1,055,196.30. This trade represents a 3.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Empire State Realty Trust Price Performance

NYSE:ESRT traded down $0.24 on Thursday, hitting $10.06. The company had a trading volume of 920,276 shares, compared to its average volume of 1,121,260. Empire State Realty Trust, Inc. has a 52 week low of $8.78 and a 52 week high of $11.62. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 37.26 and a beta of 1.40. The firm has a 50 day moving average of $10.95 and a two-hundred day moving average of $10.47.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). The firm had revenue of $199.60 million during the quarter. Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.73%. During the same period last year, the firm earned $0.25 EPS. On average, research analysts anticipate that Empire State Realty Trust, Inc. will post 0.93 earnings per share for the current year.

Empire State Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Monday, December 16th. Empire State Realty Trust’s dividend payout ratio is currently 51.85%.

Institutional Investors Weigh In On Empire State Realty Trust

A number of institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in Empire State Realty Trust by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 98,013 shares of the real estate investment trust’s stock worth $1,086,000 after buying an additional 3,141 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Empire State Realty Trust in the third quarter worth approximately $257,000. Geode Capital Management LLC boosted its holdings in Empire State Realty Trust by 1.1% in the third 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 last quarter. Vestcor Inc boosted its holdings in Empire State Realty Trust by 308.6% in the third quarter. Vestcor Inc now owns 125,231 shares of the real estate investment trust’s stock valued at $1,388,000 after acquiring an additional 94,582 shares during the last quarter. Finally, Barclays PLC increased its position in Empire State Realty Trust by 133.2% during the 3rd quarter. Barclays PLC now owns 304,539 shares of the real estate investment trust’s stock valued at $3,374,000 after purchasing an additional 173,965 shares during the period. 67.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ESRT has been the subject of several recent analyst reports. StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd. BMO Capital Markets upped their price objective on Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Finally, Wells Fargo & Company raised their price objective on Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Wednesday, September 11th.

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.