Empire State Realty Trust (NYSE:ESRT) Issues FY 2024 Earnings Guidance

Empire State Realty Trust (NYSE:ESRT) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 0.920-0.940 for the period, compared to the consensus EPS estimate of 0.930. The company issued revenue guidance of -.

Empire State Realty Trust Stock Down 0.3 %

Shares of NYSE ESRT opened at $11.18 on Wednesday. The firm’s 50-day moving average price is $10.75 and its 200-day moving average price is $10.02. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 37.27 and a beta of 1.40. Empire State Realty Trust has a 12-month low of $7.34 and a 12-month high of $11.62.

Empire State Realty Trust (NYSE:ESRT) last issued its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.16). The firm had revenue of $199.60 million for the quarter. Empire State Realty Trust had a net margin of 5.89% and a return on equity of 2.57%. During the same quarter last year, the firm earned $0.25 EPS. On average, equities research analysts anticipate that Empire State Realty Trust will post 0.92 EPS for the current fiscal year.

Empire State Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.035 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.14 dividend on an annualized basis and a yield of 1.25%. Empire State Realty Trust’s dividend payout ratio is currently 46.67%.

Analysts Set New Price Targets

A number of brokerages have commented on ESRT. Wells Fargo & Company upped their target price on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 11th. BMO Capital Markets upped their target price on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Finally, StockNews.com downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, July 26th.

About Empire State Realty Trust

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.