StockNews.com Downgrades Empire State Realty Trust (NYSE:ESRT) to Sell

StockNews.com cut shares of Empire State Realty Trust (NYSE:ESRT) from a hold rating to a sell rating in a research note issued to investors on Thursday.

Separately, BMO Capital Markets boosted their target price on Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 15th.

Empire State Realty Trust Trading Down 0.4 %

Empire State Realty Trust stock opened at $9.61 on Thursday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 3.72. The stock has a 50-day simple moving average of $10.41 and a 200 day simple moving average of $10.58. The stock has a market capitalization of $1.60 billion, a P/E ratio of 35.58 and a beta of 1.41. Empire State Realty Trust has a 52 week low of $8.78 and a 52 week high of $11.62.

Empire State Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.035 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.14 annualized dividend and a yield of 1.46%. Empire State Realty Trust’s dividend payout ratio is currently 51.85%.

Insider Transactions at Empire State Realty Trust

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 3,193 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $10.90, for a total transaction of $34,803.70. Following the transaction, the executive vice president now owns 96,807 shares in the company, valued at $1,055,196.30. This trade represents a 3.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 13.95% of the company’s stock.

Institutional Investors Weigh In On Empire State Realty Trust

A number of institutional investors have recently modified their holdings of ESRT. BNP Paribas Financial Markets increased its position in Empire State Realty Trust by 4.5% during the third quarter. BNP Paribas Financial Markets now owns 28,391 shares of the real estate investment trust’s stock worth $315,000 after acquiring an additional 1,231 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Empire State Realty Trust by 35.5% during 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 purchasing an additional 1,419 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Empire State Realty Trust by 81.6% during the third quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 1,524 shares during the period. Sei Investments Co. raised its position in shares of Empire State Realty Trust by 4.0% in the second quarter. Sei Investments Co. now owns 49,131 shares of the real estate investment trust’s stock valued at $461,000 after buying an additional 1,882 shares in the last quarter. Finally, Creative Planning raised its position in shares of Empire State Realty Trust by 20.5% in the third quarter. Creative Planning now owns 12,598 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 2,145 shares in the last quarter. Institutional investors own 67.10% of the company’s stock.

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.