Insider Selling: Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Sells $34,803.70 in Stock

Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels sold 3,193 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $10.90, for a total transaction of $34,803.70. Following the transaction, the executive vice president now directly owns 96,807 shares of the company’s stock, valued at $1,055,196.30. The trade was a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Empire State Realty Trust Trading Up 0.9 %

Shares of Empire State Realty Trust stock opened at $10.15 on Friday. Empire State Realty Trust, Inc. has a 1-year low of $8.78 and a 1-year high of $11.62. The company’s fifty day simple moving average is $10.91 and its 200-day simple moving average is $10.47. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. The stock has a market capitalization of $1.69 billion, a PE ratio of 37.59 and a beta of 1.40.

Empire State Realty Trust (NYSE:ESRT) last released its earnings results on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.16). Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.73%. The company had revenue of $199.60 million for the quarter. During the same quarter in the previous year, the business earned $0.25 EPS. As a group, equities analysts anticipate that Empire State Realty Trust, Inc. will post 0.93 earnings per share for the current year.

Empire State Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.38%. The ex-dividend date is Monday, December 16th. Empire State Realty Trust’s dividend payout ratio is 51.85%.

Institutional Investors Weigh In On Empire State Realty Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Empire State Realty Trust in the third quarter worth $25,000. Signaturefd LLC boosted its holdings in Empire State Realty Trust by 81.6% in the 3rd quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 1,524 shares during the period. Loomis Sayles & Co. L P increased its stake in Empire State Realty Trust by 3,139.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 4,470 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 4,332 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Empire State Realty Trust by 35.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 1,419 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Empire State Realty Trust during the third quarter valued at about $115,000. Institutional investors own 67.10% of the company’s stock.

Analyst Ratings Changes

ESRT has been the topic of a number of research reports. StockNews.com downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd. Wells Fargo & Company raised their target price on Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 11th. Finally, BMO Capital Markets upped their price target on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, November 15th.

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.