Empire State Realty Trust (NYSE:ESRT) Lowered to “Sell” Rating by StockNews.com

StockNews.com downgraded shares of Empire State Realty Trust (NYSE:ESRT) from a hold rating to a sell rating in a research report released on Wednesday morning.

Empire State Realty Trust Stock Performance

Shares of ESRT stock opened at $8.10 on Wednesday. Empire State Realty Trust has a 52-week low of $7.88 and a 52-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 stock has a market cap of $1.36 billion, a PE ratio of 28.91 and a beta of 1.39. The business has a 50-day simple moving average of $9.09 and a 200-day simple moving average of $10.18.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.24 EPS for the quarter, topping the consensus estimate of $0.05 by $0.19. The business had revenue of $155.13 million for the quarter, compared to analyst estimates 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, equities analysts expect that Empire State Realty Trust will post 0.88 EPS for the current year.

Empire State Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.035 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.73%. Empire State Realty Trust’s dividend payout ratio (DPR) is currently 50.00%.

Insider Transactions at Empire State Realty Trust

In related news, 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 owns 86,807 shares of the company’s stock, valued at approximately $876,750.70. This represents a 10.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 13.95% of the company’s stock.

Institutional Trading of Empire State Realty Trust

Several institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. lifted its position in shares of Empire State Realty Trust by 42.4% during the 4th quarter. Ameriprise Financial Inc. now owns 9,235,041 shares of the real estate investment trust’s stock valued at $95,306,000 after buying an additional 2,750,045 shares in the last quarter. Vision Capital Corp increased its stake in Empire State Realty Trust by 79.9% during the 3rd quarter. Vision Capital Corp now owns 2,802,948 shares of the real estate investment trust’s stock worth $31,057,000 after buying an additional 1,245,211 shares in the last quarter. Waterfront Capital Partners LLC acquired a new position in shares of Empire State Realty Trust during the fourth quarter valued at approximately $11,048,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Empire State Realty Trust by 392.0% in the third 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. Finally, Northern Trust Corp boosted its stake in shares of Empire State Realty Trust by 42.1% in the fourth quarter. Northern Trust Corp now owns 2,600,328 shares of the real estate investment trust’s stock worth $26,835,000 after acquiring an additional 771,017 shares during the last quarter. 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.