Empire State Realty Trust (NYSE:ESRT) Issues FY 2022 Earnings Guidance

Empire State Realty Trust (NYSE:ESRTGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided EPS guidance of $0.73-$0.78 for the period. The company issued revenue guidance of -.

NYSE ESRT traded down $0.16 during trading on Tuesday, hitting $8.06. The company had a trading volume of 31,118 shares, compared to its average volume of 1,759,718. The company has a current ratio of 5.94, a quick ratio of 5.94 and a debt-to-equity ratio of 1.37. Empire State Realty Trust has a one year low of $8.15 and a one year high of $13.11. The firm has a market capitalization of $1.37 billion, a P/E ratio of -68.50, a price-to-earnings-growth ratio of 1.37 and a beta of 0.99. The stock has a fifty day simple moving average of $9.22.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th were issued a $0.035 dividend. The ex-dividend date was Monday, March 14th. This represents a $0.14 annualized dividend and a yield of 1.74%. Empire State Realty Trust’s dividend payout ratio (DPR) is presently -116.67%.

ESRT has been the subject of several research reports. Evercore ISI upgraded shares of Empire State Realty Trust from an in-line rating to an outperform rating and set a $11.00 price target for the company in a research note on Monday, May 2nd. StockNews.com lowered shares of Empire State Realty Trust from a hold rating to a sell rating in a research note on Saturday. Zacks Investment Research upgraded shares of Empire State Realty Trust from a hold rating to a buy rating and set a $9.50 price target for the company in a research note on Monday. KeyCorp lowered shares of Empire State Realty Trust from an overweight rating to an underweight rating and decreased their price target for the stock from $13.00 to $8.00 in a research note on Thursday, January 13th. Finally, BMO Capital Markets lowered shares of Empire State Realty Trust from a market perform rating to an underperform rating and decreased their price target for the stock from $11.00 to $8.00 in a research note on Monday, March 7th. Three investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $10.50.

A number of hedge funds have recently made changes to their positions in ESRT. Morgan Stanley grew its position in Empire State Realty Trust by 21.1% during the 2nd quarter. Morgan Stanley now owns 4,468,128 shares of the real estate investment trust’s stock valued at $53,618,000 after purchasing an additional 779,024 shares during the last quarter. UBS Group AG grew its position in Empire State Realty Trust by 216.0% during the 3rd quarter. UBS Group AG now owns 335,406 shares of the real estate investment trust’s stock valued at $3,364,000 after purchasing an additional 229,267 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in Empire State Realty Trust during the 3rd quarter valued at about $147,000. Bank of New York Mellon Corp boosted its holdings in shares of Empire State Realty Trust by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 811,268 shares of the real estate investment trust’s stock valued at $8,138,000 after acquiring an additional 22,548 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Empire State Realty Trust by 7.4% during the 4th quarter. State Street Corp now owns 6,281,482 shares of the real estate investment trust’s stock valued at $55,905,000 after acquiring an additional 433,255 shares during the last quarter. 77.78% of the stock is currently owned by institutional investors.

About Empire State Realty Trust (Get Rating)

Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the World's Most Famous Building.

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