Empire State Realty Trust (ESRT) Set to Announce Earnings on Wednesday

Empire State Realty Trust (NYSE:ESRT) will be posting its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect Empire State Realty Trust to post earnings of $0.19 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Empire State Realty Trust Stock Performance

NYSE ESRT opened at $8.98 on Wednesday. The company has a fifty day simple moving average of $9.76 and a 200 day simple moving average of $9.29. Empire State Realty Trust has a 12-month low of $5.43 and a 12-month high of $10.32. The company has a current ratio of 7.04, a quick ratio of 7.04 and a debt-to-equity ratio of 1.29. The company has a market cap of $1.47 billion, a P/E ratio of 28.97, a PEG ratio of 3.34 and a beta of 1.30.

Empire State Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Thursday, March 14th. Empire State Realty Trust’s payout ratio is currently 45.16%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.33.

Institutional Investors Weigh In On Empire State Realty Trust

Hedge funds have recently made changes to their positions in the business. Ensign Peak Advisors Inc bought a new stake in shares of Empire State Realty Trust during the 3rd quarter worth $44,000. Osaic Holdings Inc. raised its stake 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 period. Captrust Financial Advisors bought a new stake in shares of Empire State Realty Trust during the 2nd quarter worth $59,000. Two Sigma Advisers LP bought a new stake in shares of Empire State Realty Trust during the 3rd quarter worth $66,000. Finally, Mackenzie Financial Corp bought a new stake in shares of Empire State Realty Trust during the 4th quarter worth $72,000. 67.10% of the stock is currently owned by institutional investors.

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.