Empire State Realty Trust (NYSE:ESRT) Sets New 52-Week High at $11.41

Empire State Realty Trust, Inc. (NYSE:ESRT)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $11.41 and last traded at $11.40, with a volume of 534622 shares. The stock had previously closed at $11.09.

Analyst Ratings Changes

ESRT has been the subject of a number of research reports. Wells Fargo & Company increased their target price on Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a report on Wednesday, September 11th. StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Friday, July 26th. Finally, BMO Capital Markets increased their target price on Empire State Realty Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, July 19th.

Empire State Realty Trust Price Performance

The company has a market cap of $1.87 billion, a P/E ratio of 36.83, a PEG ratio of 6.11 and a beta of 1.40. The company has a fifty day moving average price of $10.52 and a two-hundred day moving average price of $9.83. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.24 and a current ratio of 3.24.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly 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 business had revenue of $189.54 million for the quarter. During the same period in the prior year, the firm earned $0.26 EPS. On average, sell-side analysts anticipate that Empire State Realty Trust, Inc. will post 0.94 earnings per share for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Monday, September 16th. Empire State Realty Trust’s payout ratio is currently 46.67%.

Hedge Funds Weigh In On Empire State Realty Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in Empire State Realty Trust by 19.3% during the fourth quarter. Wellington Management Group LLP now owns 5,821,372 shares of the real estate investment trust’s stock worth $56,409,000 after acquiring an additional 943,593 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its position in Empire State Realty Trust by 36.8% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,467,453 shares of the real estate investment trust’s stock worth $23,910,000 after acquiring an additional 663,159 shares during the last quarter. Vanguard Group Inc. lifted its position in Empire State Realty Trust by 0.9% during the first quarter. Vanguard Group Inc. now owns 19,287,935 shares of the real estate investment trust’s stock worth $195,387,000 after acquiring an additional 175,718 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Empire State Realty Trust during the first quarter worth approximately $2,896,000. Finally, Pinebridge Investments L.P. lifted its position in Empire State Realty Trust by 82.8% during the fourth quarter. Pinebridge Investments L.P. now owns 106,085 shares of the real estate investment trust’s stock worth $1,028,000 after acquiring an additional 48,050 shares during the last quarter. Institutional investors own 67.10% of the company’s stock.

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.