Empire State Realty Trust (NYSE:ESRT) Announces Quarterly Earnings Results

Empire State Realty Trust (NYSE:ESRT) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.19, Zacks reports. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. The firm had revenue of $155.13 million for the quarter, compared to the consensus estimate of $192.62 million. Empire State Realty Trust updated its FY 2025 guidance to 0.860-0.890 EPS.

Empire State Realty Trust Price Performance

Empire State Realty Trust stock opened at $8.66 on Friday. The firm’s fifty day moving average is $9.77 and its 200 day moving average is $10.42. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 30.86 and a beta of 1.40. Empire State Realty Trust has a 52-week low of $8.66 and a 52-week high of $11.62.

Empire State Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.14 annualized dividend and a dividend yield of 1.62%. Empire State Realty Trust’s dividend payout ratio (DPR) is 50.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. StockNews.com lowered Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. BMO Capital Markets boosted their price target on shares of 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.

Insider Activity

In other news, EVP Thomas P. Durels sold 3,193 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 96,807 shares of the company’s stock, valued at approximately $1,055,196.30. The trade was a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 13.95% of the company’s stock.

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.