Empire State Realty Trust (NYSE:ESRT) Reaches New 52-Week Low – Here’s What Happened

Empire State Realty Trust, Inc. (NYSE:ESRT)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $8.66 and last traded at $8.91, with a volume of 871483 shares. The stock had previously closed at $9.01.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ESRT shares. StockNews.com downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd. BMO Capital Markets lifted their price target on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, November 15th.

Empire State Realty Trust Stock Down 0.9 %

The company has a market cap of $1.45 billion, a price-to-earnings ratio of 30.98 and a beta of 1.40. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 3.72. The stock’s fifty day moving average is $9.72 and its two-hundred day moving average is $10.41.

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

Empire State Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.035 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.14 annualized dividend and a dividend yield of 1.61%. Empire State Realty Trust’s dividend payout ratio is currently 50.00%.

Insider Activity at Empire State Realty Trust

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 10,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $10.10, for a total value of $101,000.00. Following the transaction, the executive vice president now owns 86,807 shares of the company’s stock, valued at approximately $876,750.70. The trade was a 10.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 13.95% of the stock is owned by insiders.

Institutional Trading of Empire State Realty Trust

A number of large investors have recently added to or reduced their stakes in ESRT. Point72 Asia Singapore Pte. Ltd. bought a new position in Empire State Realty Trust during the third quarter worth about $25,000. GF Fund Management CO. LTD. bought a new position in shares of Empire State Realty Trust in the fourth quarter valued at approximately $26,000. Signaturefd LLC grew its stake in Empire State Realty Trust by 81.6% during the third quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 1,524 shares in the last quarter. Sterling Capital Management LLC increased 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 worth $44,000 after acquiring an additional 3,828 shares during the period. Finally, Loomis Sayles & Co. L P lifted its stake in Empire State Realty Trust by 3,139.1% in 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 purchasing an additional 4,332 shares in the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.

About Empire State Realty Trust

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.