Empire State Realty Trust (NYSE:ESRT) Raised to Hold at StockNews.com

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

Empire State Realty Trust Stock Performance

Shares of ESRT stock opened at $9.32 on Friday. Empire State Realty Trust has a 12 month low of $5.43 and a 12 month high of $10.32. The company’s fifty day moving average price is $9.71 and its 200-day moving average price is $9.34. The stock has a market cap of $1.53 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 3.32 and a beta of 1.30. The company has a current ratio of 7.04, a quick ratio of 7.04 and a debt-to-equity ratio of 1.29.

Empire State Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.035 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.14 annualized dividend and a yield of 1.50%. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 45.16%.

Institutional Trading of Empire State Realty Trust

Several institutional investors have recently added to or reduced their stakes in ESRT. GAMMA Investing LLC bought a new position in shares of Empire State Realty Trust during the fourth quarter valued at $34,000. Federated Hermes Inc. purchased a new position in Empire State Realty Trust in the 3rd quarter worth about $59,000. Spirit of America Management Corp NY bought a new position in Empire State Realty Trust during the 4th quarter valued at about $87,000. QRG Capital Management Inc. bought a new position in Empire State Realty Trust during the 3rd quarter valued at about $109,000. Finally, New York State Teachers Retirement System purchased a new stake in shares of Empire State Realty Trust during the 4th quarter valued at about $115,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Empire State Realty Trust Company Profile

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.