Empire State Realty Trust (NYSE:ESRT) Reaches New 1-Year Low – Here’s Why

Empire State Realty Trust, Inc. (NYSE:ESRT)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $7.20 and last traded at $7.29, with a volume of 139012 shares changing hands. The stock had previously closed at $7.85.

Wall Street Analysts Forecast Growth

ESRT has been the topic of a number of recent research reports. Wolfe Research raised shares of Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 target price on the stock in a research report on Tuesday, March 25th. StockNews.com downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, March 19th.

Empire State Realty Trust Price Performance

The firm has a fifty day moving average price of $8.75 and a two-hundred day moving average price of $10.01. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $1.25 billion, a P/E ratio of 26.67 and a beta of 1.39.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings data 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. The business had revenue of $155.13 million during the quarter, compared to analyst estimates of $192.62 million. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. On average, analysts expect that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.

Empire State Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.035 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.14 annualized dividend and a yield of 1.87%. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 50.00%.

Insider Buying and Selling at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 12,500 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $8.11, for a total transaction of $101,375.00. Following the transaction, the executive vice president now directly owns 74,307 shares of the company’s stock, valued at $602,629.77. This represents a 14.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders have sold 30,122 shares of company stock worth $242,761. Insiders own 14.01% of the company’s stock.

Institutional Trading of Empire State Realty Trust

Large investors have recently made changes to their positions in the stock. Intech Investment Management LLC purchased a new stake in Empire State Realty Trust in the third quarter worth approximately $385,000. FMR LLC boosted its stake in shares of Empire State Realty Trust by 28.2% in the 3rd quarter. FMR LLC now owns 467,285 shares of the real estate investment trust’s stock worth $5,178,000 after buying an additional 102,658 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Empire State Realty Trust in the third quarter worth $455,000. BNP Paribas Financial Markets increased its position in Empire State Realty Trust by 4.5% during the third quarter. BNP Paribas Financial Markets now owns 28,391 shares of the real estate investment trust’s stock valued at $315,000 after acquiring an additional 1,231 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Empire State Realty Trust by 392.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,099,288 shares of the real estate investment trust’s stock valued at $12,180,000 after acquiring an additional 875,836 shares during the period. 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.