Insider Selling: Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Sells 5,779 Shares of Stock

Empire State Realty Trust, Inc. (NYSE:ESRT) EVP Thomas P. Durels sold 5,779 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $8.03, for a total value of $46,405.37. Following the completion of the sale, the executive vice president now owns 56,028 shares in the company, valued at approximately $449,904.84. The trade was a 9.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Empire State Realty Trust Stock Performance

Shares of NYSE:ESRT traded down $0.01 during midday trading on Tuesday, reaching $7.98. 1,367,254 shares of the company traded hands, compared to its average volume of 1,114,620. Empire State Realty Trust, Inc. has a 12 month low of $7.88 and a 12 month high of $11.62. The firm’s fifty day moving average price is $9.00 and its two-hundred day moving average price is $10.12. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 28.50 and a beta of 1.39.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.19. The firm had revenue of $155.13 million for the quarter, compared to the consensus estimate of $192.62 million. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. On average, equities analysts expect that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current year.

Empire State Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.035 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.14 annualized dividend and a yield of 1.75%. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 50.00%.

Institutional Investors Weigh In On Empire State Realty Trust

Hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its holdings in shares of Empire State Realty Trust by 42.4% during the 4th quarter. Ameriprise Financial Inc. now owns 9,235,041 shares of the real estate investment trust’s stock valued at $95,306,000 after buying an additional 2,750,045 shares in the last quarter. Vision Capital Corp lifted its stake in shares of Empire State Realty Trust by 79.9% in the 3rd quarter. Vision Capital Corp now owns 2,802,948 shares of the real estate investment trust’s stock valued at $31,057,000 after acquiring an additional 1,245,211 shares during the last quarter. Waterfront Capital Partners LLC purchased a new stake in Empire State Realty Trust during the 4th quarter valued at about $11,048,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Empire State Realty Trust by 392.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,099,288 shares of the real estate investment trust’s stock worth $12,180,000 after acquiring an additional 875,836 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Empire State Realty Trust by 42.1% in the 4th quarter. Northern Trust Corp now owns 2,600,328 shares of the real estate investment trust’s stock worth $26,835,000 after purchasing an additional 771,017 shares during the period. Institutional investors own 67.10% of the company’s stock.

Wall Street Analyst Weigh In

ESRT has been the subject of several recent research reports. StockNews.com lowered Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, March 19th. Wolfe Research upgraded shares of Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 target price for the company in a research note on Tuesday.

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.