Empire State Realty Trust (NYSE:ESRT) Releases Earnings Results

Empire State Realty Trust (NYSE:ESRT) announced its earnings results on Monday. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, Zacks reports. Empire State Realty Trust had a net margin of 0.93% and a return on equity of 0.40%. The company had revenue of $193.05 million during the quarter.

Empire State Realty Trust Price Performance

NYSE ESRT traded up $0.04 on Monday, hitting $5.00. 3,143,153 shares of the company’s stock were exchanged, compared to its average volume of 2,447,845. The stock has a 50-day moving average of $4.49 and a 200-day moving average of $5.31. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.15. Empire State Realty Trust has a 52 week low of $3.93 and a 52 week high of $7.53. The stock has a market cap of $866.53 million, a price-to-earnings ratio of 71.51 and a beta of 1.40.

Empire State Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were given a dividend of $0.0350 per share. This represents a $0.14 annualized dividend and a yield of 2.8%. The ex-dividend date was Tuesday, September 15th. Empire State Realty Trust’s payout ratio is currently 200.00%.

Hedge Funds Weigh In On Empire State Realty Trust

Several hedge funds and other institutional investors have recently modified their holdings of ESRT. Royal Bank of Canada lifted its position in shares of Empire State Realty Trust by 86.1% during the 1st quarter. Royal Bank of Canada now owns 11,078 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 5,124 shares during the last quarter. Resona Asset Management Co. Ltd. grew its position in Empire State Realty Trust by 9.5% in the first quarter. Resona Asset Management Co. Ltd. now owns 62,921 shares of the real estate investment trust’s stock valued at $321,000 after acquiring an additional 5,443 shares during the last quarter. Versant Capital Management Inc grew its position in Empire State Realty Trust by 380.9% in the third quarter. Versant Capital Management Inc now owns 9,205 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 7,291 shares during the last quarter. Interchange Capital Partners LLC acquired a new position in Empire State Realty Trust during the third quarter worth about $40,000. Finally, Sequoia Financial Advisors LLC raised its stake in Empire State Realty Trust by 92.1% during the second quarter. Sequoia Financial Advisors LLC now owns 22,083 shares of the real estate investment trust’s stock worth $119,000 after acquiring an additional 10,590 shares in the last quarter. Institutional investors own 67.10% of the company’s stock.

Analysts Set New Price Targets

ESRT has been the subject of several analyst reports. Citigroup dropped their price objective on shares of Empire State Realty Trust from $5.75 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. Wells Fargo & Company decreased their target price on shares of Empire State Realty Trust from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 1st. Weiss Ratings restated a “sell (d)” rating on shares of Empire State Realty Trust in a research report on Friday, August 7th. Evercore set a $5.00 target price on shares of Empire State Realty Trust in a report on Monday, September 21st. Finally, Wall Street Zen downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Empire State Realty Trust currently has an average rating of “Sell” and an average target price of $5.00.

Empire State Realty Trust Company Profile

Empire State Realty Trust, Inc is a self-managed real estate investment trust that owns, manages, operates, acquires and repositions office, retail and multifamily properties in New York City and the surrounding metropolitan area. Its portfolio is concentrated in Manhattan and includes properties serving businesses, residents, retailers and visitors.

The company’s landmark asset is the Empire State Building, which it operates as a mixed-use office, retail and tourist destination. Empire State Realty Trust also manages the building’s public observatories, offering visitors views of New York City, and provides leasing and property-management services across its portfolio.

Empire State Realty Trust was formed in 2011 and became a publicly traded company in 2013.