Empire State Realty Trust (ESRT) Reaches New 1-Year Low at $15.80

Empire State Realty Trust Inc (NYSE:ESRT) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $15.80 and last traded at $15.87, with a volume of 46890 shares changing hands. The stock had previously closed at $16.08.

ESRT has been the subject of several analyst reports. Bank of America lowered Empire State Realty Trust from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a report on Tuesday, August 7th. BTIG Research lowered Empire State Realty Trust from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a report on Tuesday, July 31st. Finally, Zacks Investment Research upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, July 30th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Empire State Realty Trust currently has an average rating of “Hold” and a consensus target price of $20.86.

The company has a debt-to-equity ratio of 0.97, a current ratio of 7.10 and a quick ratio of 7.10. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 4.69 and a beta of 0.92.

Empire State Realty Trust (NYSE:ESRT) last posted its earnings results on Wednesday, July 25th. The real estate investment trust reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. Empire State Realty Trust had a return on equity of 4.62% and a net margin of 12.72%. The firm had revenue of $124.04 million during the quarter, compared to analyst estimates of $122.58 million. During the same period in the previous year, the company earned $0.25 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities research analysts forecast that Empire State Realty Trust Inc will post 0.89 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were issued a $0.105 dividend. The ex-dividend date was Thursday, September 13th. This represents a $0.42 annualized dividend and a yield of 2.67%. Empire State Realty Trust’s dividend payout ratio (DPR) is currently 43.75%.

In other Empire State Realty Trust news, CFO David A. Karp purchased 4,500 shares of the business’s stock in a transaction dated Monday, July 30th. The stock was bought at an average cost of $16.19 per share, for a total transaction of $72,855.00. Following the completion of the acquisition, the chief financial officer now directly owns 5,500 shares in the company, valued at $89,045. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.50% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of ESRT. Schwab Charles Investment Management Inc. lifted its holdings in shares of Empire State Realty Trust by 5.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 412,941 shares of the real estate investment trust’s stock worth $6,934,000 after buying an additional 21,285 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Empire State Realty Trust by 7.6% during the first quarter. Northern Trust Corp now owns 1,450,041 shares of the real estate investment trust’s stock worth $24,347,000 after buying an additional 102,671 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Empire State Realty Trust by 41.2% during the first quarter. California Public Employees Retirement System now owns 236,076 shares of the real estate investment trust’s stock worth $3,964,000 after buying an additional 68,892 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Empire State Realty Trust by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,277,337 shares of the real estate investment trust’s stock worth $38,237,000 after buying an additional 74,713 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Empire State Realty Trust by 967.3% during the first quarter. BNP Paribas Arbitrage SA now owns 38,861 shares of the real estate investment trust’s stock worth $652,000 after buying an additional 35,220 shares during the last quarter. Institutional investors own 73.41% of the company’s stock.

About Empire State Realty Trust (NYSE:ESRT)

Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), 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 world's most famous building.

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