Empire State Realty Trust (NYSE:ESRT) Lowered to “Sell” at StockNews.com

StockNews.com lowered shares of Empire State Realty Trust (NYSE:ESRTFree Report) from a hold rating to a sell rating in a report released on Tuesday morning.

Empire State Realty Trust Stock Down 0.2 %

Empire State Realty Trust stock opened at $9.60 on Tuesday. Empire State Realty Trust has a 52 week low of $5.43 and a 52 week high of $10.32. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 3.68 and a beta of 1.30. The business’s 50-day moving average price is $9.83 and its 200 day moving average price is $9.20. The company has a quick ratio of 7.04, a current ratio of 7.04 and a debt-to-equity ratio of 1.29.

Empire State Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.035 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.14 dividend on an annualized basis and a yield of 1.46%. Empire State Realty Trust’s payout ratio is 45.16%.

Hedge Funds Weigh In On Empire State Realty Trust

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC purchased a new stake in Empire State Realty Trust in the 4th quarter worth $34,000. Ensign Peak Advisors Inc purchased a new stake in shares of Empire State Realty Trust during the third quarter worth about $44,000. Osaic Holdings Inc. raised its position in shares of Empire State Realty Trust by 37.6% during the 2nd quarter. Osaic Holdings Inc. now owns 6,091 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 1,666 shares during the last quarter. Federated Hermes Inc. purchased a new position in Empire State Realty Trust in the 3rd quarter valued at about $59,000. Finally, Captrust Financial Advisors acquired a new stake in Empire State Realty Trust in the 2nd quarter worth about $59,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

About Empire State Realty Trust

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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.

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