Empire State Realty Trust (NYSE:ESRT) Reaches New 1-Year Low – Should You Sell?

Shares of Empire State Realty Trust, Inc. (NYSE:ESRT) reached a new 52-week low during trading on Monday . The company traded as low as $8.37 and last traded at $8.39, with a volume of 51104 shares. The stock had previously closed at $8.54.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. StockNews.com raised Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, March 3rd.

Empire State Realty Trust Stock Down 3.9 %

The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 29.30 and a beta of 1.39. The firm’s 50-day moving average price is $9.41 and its 200 day moving average price is $10.31.

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

Empire State Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.035 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.14 annualized dividend and a yield of 1.71%. Empire State Realty Trust’s dividend payout ratio is presently 50.00%.

Insider Buying and Selling at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $10.10, for a total value of $101,000.00. Following the completion of the sale, the executive vice president now directly owns 86,807 shares in the company, valued at approximately $876,750.70. The trade was a 10.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Empire State Realty Trust during the third quarter valued at approximately $25,000. GF Fund Management CO. LTD. acquired a new position in Empire State Realty Trust during the 4th quarter valued at approximately $26,000. Sterling Capital Management LLC grew its stake in Empire State Realty Trust by 819.7% during the 4th quarter. Sterling Capital Management LLC now owns 4,295 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 3,828 shares during the last quarter. Loomis Sayles & Co. L P increased its position in Empire State Realty Trust by 3,139.1% in the third quarter. Loomis Sayles & Co. L P now owns 4,470 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 4,332 shares during the period. Finally, State of Wyoming bought a new stake in Empire State Realty Trust in the fourth quarter valued at $54,000. 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.