Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels Sells 3,193 Shares of Stock

Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels sold 3,193 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $10.90, for a total transaction of $34,803.70. Following the completion of the transaction, the executive vice president now owns 96,807 shares in the company, valued at approximately $1,055,196.30. This trade represents a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Empire State Realty Trust Price Performance

Shares of ESRT stock opened at $10.06 on Friday. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 37.26 and a beta of 1.40. The firm’s 50 day moving average is $10.95 and its 200-day moving average is $10.47. Empire State Realty Trust, Inc. has a 1 year low of $8.78 and a 1 year high of $11.62.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). The firm had revenue of $199.60 million during the quarter. Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.73%. During the same quarter last year, the firm earned $0.25 EPS. Sell-side analysts forecast that Empire State Realty Trust, Inc. will post 0.93 EPS for the current fiscal year.

Empire State Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.035 per share. The ex-dividend date is Monday, December 16th. This represents a $0.14 annualized dividend and a yield of 1.39%. Empire State Realty Trust’s dividend payout ratio is currently 51.85%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. StockNews.com downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. BMO Capital Markets boosted their price objective on Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company raised their target price on Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Wednesday, September 11th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its stake in shares of Empire State Realty Trust by 9.3% during the second quarter. Assenagon Asset Management S.A. now owns 36,763 shares of the real estate investment trust’s stock worth $345,000 after buying an additional 3,120 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Empire State Realty Trust by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 848,486 shares of the real estate investment trust’s stock valued at $7,959,000 after purchasing an additional 37,370 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Empire State Realty Trust by 7.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,093 shares of the real estate investment trust’s stock worth $611,000 after purchasing an additional 4,397 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Empire State Realty Trust by 9.6% during the second quarter. Principal Financial Group Inc. now owns 94,872 shares of the real estate investment trust’s stock worth $890,000 after purchasing an additional 8,288 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Empire State Realty Trust by 5.4% in the second quarter. Van ECK Associates Corp now owns 23,718 shares of the real estate investment trust’s stock valued at $222,000 after purchasing an additional 1,221 shares during the last quarter. 67.10% of the stock is currently 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.