Empire State Realty Trust, Inc. Declares Quarterly Dividend of $0.04 (NYSE:ESRT)

Empire State Realty Trust, Inc. (NYSE:ESRT) declared a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Investors of record on Friday, March 14th will be paid a dividend of 0.035 per share by the real estate investment trust on Monday, March 31st. This represents a $0.14 annualized dividend and a yield of 1.68%. The ex-dividend date is Friday, March 14th.

Empire State Realty Trust has raised its dividend by an average of 98.1% per year over the last three years.

Empire State Realty Trust Stock Performance

Empire State Realty Trust stock traded up $0.11 during mid-day trading on Wednesday, reaching $8.34. 140,854 shares of the company were exchanged, compared to its average volume of 1,291,701. The firm’s 50-day simple moving average is $9.33 and its two-hundred day simple moving average is $10.28. Empire State Realty Trust has a twelve month low of $8.09 and a twelve month high of $11.62. The firm has a market cap of $1.40 billion, a PE ratio of 29.71 and a beta of 1.39. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 3.72.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on ESRT shares. StockNews.com upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. BMO Capital Markets increased their price objective on Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th.

Insider Buying and Selling

In other news, EVP Thomas P. Durels sold 10,000 shares of the firm’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 completion of the transaction, the executive vice president now owns 86,807 shares in the company, valued at $876,750.70. This trade represents a 10.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 13.95% of the stock is owned by insiders.

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.