Empire State Realty Trust (NYSE:ESRT) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Empire State Realty Trust (NYSE:ESRT) from a sell rating to a hold rating in a report published on Friday.

Empire State Realty Trust Price Performance

Shares of NYSE:ESRT opened at $9.32 on Friday. Empire State Realty Trust has a fifty-two week low of $5.43 and a fifty-two week high of $10.32. The company has a debt-to-equity ratio of 1.29, a current ratio of 7.04 and a quick ratio of 7.04. The business has a 50-day moving average of $9.71 and a two-hundred day moving average of $9.34. The stock has a market capitalization of $1.53 billion, a P/E ratio of 30.07, a P/E/G ratio of 3.32 and a beta of 1.30.

Empire State Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.035 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.14 annualized dividend and a yield of 1.50%. Empire State Realty Trust’s payout ratio is 45.16%.

Institutional Investors Weigh In On Empire State Realty Trust

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in shares of Empire State Realty Trust during the 4th quarter worth approximately $34,000. Federated Hermes Inc. bought a new stake in shares of Empire State Realty Trust in the 3rd quarter worth about $59,000. Spirit of America Management Corp NY bought a new stake in shares of Empire State Realty Trust in the 4th quarter worth about $87,000. QRG Capital Management Inc. acquired a new stake in shares of Empire State Realty Trust during the 3rd quarter worth about $109,000. Finally, New York State Teachers Retirement System acquired a new position in Empire State Realty Trust in the fourth quarter valued at about $115,000. 67.10% of the stock is owned by institutional investors and hedge funds.

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.