Empire State Realty Trust (NYSE:ESRT) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Empire State Realty Trust (NYSE:ESRT) from a sell rating to a hold rating in a research note issued to investors on Saturday.

Empire State Realty Trust Price Performance

Empire State Realty Trust stock opened at $9.21 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 7.04 and a quick ratio of 7.04. The company has a market capitalization of $1.51 billion, a PE ratio of 30.70, a price-to-earnings-growth ratio of 3.38 and a beta of 1.30. Empire State Realty Trust has a one year low of $5.43 and a one year high of $10.32. The business has a 50 day simple moving average of $9.67 and a 200 day simple moving average of $9.37.

Empire State Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 1.52%. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 46.67%.

Institutional Investors Weigh In On Empire State Realty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new stake in Empire State Realty Trust during the 4th quarter valued at $34,000. Federated Hermes Inc. acquired a new stake in Empire State Realty Trust during the 3rd quarter valued at $59,000. Spirit of America Management Corp NY acquired a new stake in Empire State Realty Trust during the 4th quarter valued at $87,000. New York State Teachers Retirement System acquired a new stake in Empire State Realty Trust during the 4th quarter valued at $115,000. Finally, Scotia Capital Inc. acquired a new stake in Empire State Realty Trust during the 4th quarter valued at $123,000. 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.