Empire State Realty Trust (NYSE:ESRT – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.900-0.940 for the period, compared to the consensus earnings per share estimate of 0.930. The company issued revenue guidance of -.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on ESRT. StockNews.com lowered Empire State Realty Trust from a hold rating to a sell rating in a report on Friday. BMO Capital Markets increased their price objective on Empire State Realty Trust from $11.00 to $12.00 and gave the company an outperform rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $9.25.
Read Our Latest Stock Analysis on ESRT
Empire State Realty Trust Stock Performance
Empire State Realty Trust (NYSE:ESRT – Get Free Report) last issued its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.14). Empire State Realty Trust had a return on equity of 2.57% and a net margin of 5.89%. The company had revenue of $189.54 million during the quarter. During the same quarter last year, the firm earned $0.26 EPS. On average, analysts expect that Empire State Realty Trust will post 0.93 earnings per share for the current year.
Empire State Realty Trust Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.035 per share. The ex-dividend date was Friday, June 14th. This represents a $0.14 dividend on an annualized basis and a yield of 1.30%. Empire State Realty Trust’s dividend payout ratio is currently 46.67%.
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.
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