Empire State Realty Trust Inc (NYSE:ESRT) Director Salvatore Michael Giliberto purchased 1,000 shares of the business’s stock in a transaction on Monday, March 5th. The stock was acquired at an average cost of $16.83 per share, with a total value of $16,830.00. Following the completion of the acquisition, the director now directly owns 3,500 shares in the company, valued at approximately $58,905. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Empire State Realty Trust Inc (ESRT) traded up $0.10 during trading on Wednesday, reaching $17.10. The company’s stock had a trading volume of 2,625,356 shares, compared to its average volume of 1,309,607. Empire State Realty Trust Inc has a 52-week low of $16.57 and a 52-week high of $21.72. The company has a quick ratio of 6.65, a current ratio of 6.65 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $2,742.78, a PE ratio of 43.85, a P/E/G ratio of 5.13 and a beta of 0.98.
Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.25 earnings per share for the quarter, meeting the consensus estimate of $0.25. Empire State Realty Trust had a return on equity of 3.95% and a net margin of 11.72%. The company had revenue of $183.10 million during the quarter, compared to analysts’ expectations of $123.85 million. During the same period in the prior year, the business earned $0.25 earnings per share. Empire State Realty Trust’s revenue for the quarter was up 2.1% compared to the same quarter last year. analysts expect that Empire State Realty Trust Inc will post 0.93 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 15th will be given a $0.105 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.42 annualized dividend and a yield of 2.46%. Empire State Realty Trust’s dividend payout ratio (DPR) is currently 107.70%.
A number of brokerages have recently weighed in on ESRT. Zacks Investment Research downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Tuesday. Stifel Nicolaus downgraded Empire State Realty Trust from a “buy” rating to a “hold” rating and dropped their target price for the company from $20.00 to $18.00 in a report on Monday, February 26th. BMO Capital Markets set a $20.00 price objective on Empire State Realty Trust and gave the stock a “buy” rating in a report on Tuesday, February 27th. Evercore ISI upgraded Empire State Realty Trust from an “in” rating to a “line” rating and set a $23.00 price objective on the stock in a report on Monday, December 4th. Finally, TheStreet downgraded Empire State Realty Trust from a “b” rating to a “c+” rating in a report on Thursday, November 16th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $21.00.
Hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in Empire State Realty Trust by 9.4% in the second quarter. The Manufacturers Life Insurance Company now owns 5,571 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 479 shares during the period. Quantbot Technologies LP bought a new position in Empire State Realty Trust in the third quarter worth $153,000. Xact Kapitalforvaltning AB bought a new position in Empire State Realty Trust in the fourth quarter worth $208,000. Advisors Asset Management Inc. lifted its position in Empire State Realty Trust by 32.9% in the third quarter. Advisors Asset Management Inc. now owns 11,399 shares of the real estate investment trust’s stock worth $234,000 after purchasing an additional 2,821 shares during the period. Finally, SG Americas Securities LLC lifted its position in Empire State Realty Trust by 72.3% in the third quarter. SG Americas Securities LLC now owns 12,300 shares of the real estate investment trust’s stock worth $253,000 after purchasing an additional 5,163 shares during the period. 84.17% of the stock is owned by hedge funds and other institutional investors.
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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