Insider Selling: Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Sells $101,000.00 in Stock

Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $10.10, for a total value of $101,000.00. Following the completion of the transaction, the executive vice president now directly owns 86,807 shares of the company’s stock, valued at approximately $876,750.70. The trade was a 10.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Empire State Realty Trust Price Performance

Empire State Realty Trust stock opened at $10.19 on Monday. The stock’s 50 day moving average is $10.80 and its 200 day moving average is $10.51. Empire State Realty Trust, Inc. has a one year low of $8.78 and a one year high of $11.62. The firm has a market cap of $1.70 billion, a P/E ratio of 37.74 and a beta of 1.40. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72.

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

Empire State Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Monday, December 16th. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 51.85%.

Institutional Investors Weigh In On Empire State Realty Trust

Several institutional investors and hedge funds have recently made changes to their positions in ESRT. Vision Capital Corp increased its holdings in Empire State Realty Trust by 79.9% in the third quarter. Vision Capital Corp now owns 2,802,948 shares of the real estate investment trust’s stock worth $31,057,000 after purchasing an additional 1,245,211 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Empire State Realty Trust by 392.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,099,288 shares of the real estate investment trust’s stock valued at $12,180,000 after acquiring an additional 875,836 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new position in shares of Empire State Realty Trust during the 2nd quarter valued at $7,926,000. 1832 Asset Management L.P. bought a new position in Empire State Realty Trust during the second quarter worth $4,573,000. Finally, Barclays PLC grew its holdings in Empire State Realty Trust by 133.2% in the third quarter. Barclays PLC now owns 304,539 shares of the real estate investment trust’s stock worth $3,374,000 after purchasing an additional 173,965 shares during the period. Institutional investors own 67.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.