Insider Selling: Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Sells 11,843 Shares of Stock

Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels sold 11,843 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $8.02, for a total value of $94,980.86. Following the transaction, the executive vice president now owns 44,185 shares of the company’s stock, valued at approximately $354,363.70. The trade was a 21.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Empire State Realty Trust Trading Down 1.4 %

Shares of ESRT stock opened at $7.93 on Friday. The business has a 50-day moving average price of $8.90 and a two-hundred day moving average price of $10.08. Empire State Realty Trust, Inc. has a 12-month low of $7.88 and a 12-month high of $11.62. 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 firm has a market cap of $1.33 billion, a P/E ratio of 28.34 and a beta of 1.39.

Empire State Realty Trust (NYSE:ESRT) last released its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.19. The company had revenue of $155.13 million during the quarter, compared to the consensus estimate of $192.62 million. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. Equities analysts anticipate that Empire State Realty Trust, Inc. will post 0.88 EPS for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.035 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.76%. Empire State Realty Trust’s dividend payout ratio (DPR) is 50.00%.

Hedge Funds Weigh In On Empire State Realty Trust

A number of large investors have recently added to or reduced their stakes in ESRT. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Empire State Realty Trust during the third quarter valued at about $25,000. GF Fund Management CO. LTD. bought a new stake in shares of Empire State Realty Trust in the 4th quarter valued at about $26,000. Sterling Capital Management LLC boosted its holdings in Empire State Realty Trust by 819.7% during the 4th quarter. Sterling Capital Management LLC now owns 4,295 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 3,828 shares during the period. Loomis Sayles & Co. L P grew its position in 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. Finally, State of Wyoming purchased a new position in Empire State Realty Trust in the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wolfe Research raised Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a report on Tuesday. StockNews.com cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, March 19th.

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.