Empire State Realty Trust (NYSE:ESRT) Upgraded by StockNews.com to Hold

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

Empire State Realty Trust Trading Up 1.0 %

Shares of Empire State Realty Trust stock opened at $9.21 on Friday. The company has a quick ratio of 7.04, a current ratio of 7.04 and a debt-to-equity ratio of 1.29. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 30.70, a price-to-earnings-growth ratio of 3.38 and a beta of 1.30. The business has a fifty day simple moving average of $9.67 and a 200-day simple moving average of $9.37. Empire State Realty Trust has a fifty-two week low of $5.43 and a fifty-two week high of $10.32.

Empire State Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Thursday, March 14th. Empire State Realty Trust’s dividend payout ratio is 46.67%.

Institutional Investors Weigh In On Empire State Realty Trust

Several hedge funds have recently modified their holdings of ESRT. GAMMA Investing LLC purchased a new stake in shares of Empire State Realty Trust during the fourth quarter valued at $34,000. Federated Hermes Inc. purchased a new stake in shares of Empire State Realty Trust during the third quarter valued at $59,000. Spirit of America Management Corp NY purchased a new stake in shares of Empire State Realty Trust during the fourth quarter valued at $87,000. QRG Capital Management Inc. purchased a new stake in shares of Empire State Realty Trust during the third quarter valued at $109,000. Finally, New York State Teachers Retirement System purchased a new stake in shares of Empire State Realty Trust during the fourth quarter valued at $115,000. 67.10% of the stock is owned by hedge funds and other 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.