Empire State Realty Trust (ESRT) Sets New 1-Year Low at $19.55
Empire State Realty Trust Inc (NYSE:ESRT) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $19.55 and last traded at $19.69, with a volume of 892100 shares. The stock had previously closed at $19.88.
ESRT has been the subject of several analyst reports. Zacks Investment Research cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. BidaskClub cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 28th. BMO Capital Markets reiterated a “buy” rating and set a $23.00 price target on shares of Empire State Realty Trust in a report on Wednesday, November 1st. TheStreet upgraded shares of Empire State Realty Trust from a “c+” rating to a “b” rating in a report on Tuesday, October 31st. Finally, Evercore ISI upgraded shares of Empire State Realty Trust from an “in” rating to a “line” rating and set a $23.00 price target for the company in a report on Monday, December 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. Empire State Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $22.50.
The company has a debt-to-equity ratio of 0.80, a current ratio of 4.93 and a quick ratio of 4.93. The stock has a market cap of $3,070.00, a price-to-earnings ratio of 48.13, a P/E/G ratio of 4.71 and a beta of 0.98.
Empire State Realty Trust (NYSE:ESRT) last issued its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). Empire State Realty Trust had a net margin of 11.90% and a return on equity of 3.98%. The company had revenue of $122.39 million during the quarter, compared to analyst estimates of $122.22 million. During the same quarter in the previous year, the company posted $0.26 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. equities research analysts predict that Empire State Realty Trust Inc will post 0.94 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were issued a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Thursday, December 14th. Empire State Realty Trust’s payout ratio is 105.00%.
In other news, Chairman Anthony E. Malkin sold 1,243,163 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $20.45, for a total value of $25,422,683.35. Following the completion of the transaction, the chairman now owns 156,416 shares in the company, valued at approximately $3,198,707.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 11.80% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in Empire State Realty Trust by 3.3% in the 2nd quarter. BlackRock Inc. now owns 7,131,040 shares of the real estate investment trust’s stock valued at $148,111,000 after purchasing an additional 229,390 shares during the last quarter. Eii Capital Management Inc. purchased a new stake in Empire State Realty Trust in the 3rd quarter valued at $797,000. BT Investment Management Ltd purchased a new stake in Empire State Realty Trust in the 2nd quarter valued at $2,526,000. Daiwa Securities Group Inc. raised its position in Empire State Realty Trust by 0.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,322,597 shares of the real estate investment trust’s stock valued at $150,407,000 after purchasing an additional 20,312 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Empire State Realty Trust by 17.7% in the 3rd quarter. Legal & General Group Plc now owns 879,460 shares of the real estate investment trust’s stock valued at $18,064,000 after purchasing an additional 132,481 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.
About Empire State Realty Trust
Empire State Realty Trust, Inc is a real estate investment trust. The Company owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building. The Company operates through two segments: Real Estate and Observatory.
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