Insider Selling: Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Sells 10,000 Shares of Stock

Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels sold 10,000 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $10.10, for a total value of $101,000.00. Following the completion of the sale, the executive vice president now owns 86,807 shares in the company, valued at $876,750.70. This represents a 10.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Empire State Realty Trust Price Performance

Shares of Empire State Realty Trust stock traded down $0.20 on Friday, reaching $10.19. The stock had a trading volume of 695,132 shares, compared to its average volume of 1,122,430. The business’s 50 day moving average is $10.82 and its two-hundred day moving average is $10.49. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. Empire State Realty Trust, Inc. has a 1 year low of $8.78 and a 1 year high of $11.62. The company has a market cap of $1.70 billion, a P/E ratio of 37.74 and a beta of 1.40.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate 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 period last year, the firm posted $0.25 earnings per share. As a group, research analysts anticipate that Empire State Realty Trust, Inc. will post 0.93 EPS for the current year.

Empire State Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.035 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.14 annualized dividend and a dividend yield of 1.37%. Empire State Realty Trust’s payout ratio is currently 51.85%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in Empire State Realty Trust during the third quarter valued at approximately $25,000. Signaturefd LLC raised its position in shares of Empire State Realty Trust by 81.6% during the 3rd quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 1,524 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Empire State Realty Trust by 3,139.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 4,470 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 4,332 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Empire State Realty Trust by 35.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 1,419 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in Empire State Realty Trust in the third quarter valued at $115,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. StockNews.com downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd. Wells Fargo & Company lifted their price objective on shares of 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. Finally, BMO Capital Markets increased their target price on Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th.

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.