Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels Sells 11,843 Shares of Stock

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

Empire State Realty Trust Stock Performance

Shares of ESRT opened at $7.98 on Wednesday. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 28.50 and a beta of 1.39. The business’s fifty day simple moving average is $8.97 and its two-hundred day simple moving average is $10.10. 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 current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.24 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $192.62 million. Research analysts anticipate 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 business also recently declared 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 is Friday, March 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.75%. Empire State Realty Trust’s dividend payout ratio is presently 50.00%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in Empire State Realty Trust in the 3rd quarter worth approximately $25,000. GF Fund Management CO. LTD. bought a new stake in shares of Empire State Realty Trust in the fourth quarter worth $26,000. Sterling Capital Management LLC increased its position in Empire State Realty Trust by 819.7% during the fourth 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 last quarter. Loomis Sayles & Co. L P lifted its holdings in Empire State Realty Trust by 3,139.1% in the third quarter. Loomis Sayles & Co. L P now owns 4,470 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 4,332 shares during the period. Finally, State of Wyoming bought a new position in Empire State Realty Trust in the fourth quarter valued at about $54,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

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.