Empire State Realty Trust, Inc. Declares Quarterly Dividend of $0.04 (NYSE:ESRT)

Empire State Realty Trust, Inc. (NYSE:ESRT) declared a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.035 per share by the real estate investment trust on Monday, March 31st. This represents a $0.14 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Friday, March 14th.

Empire State Realty Trust has increased its dividend by an average of 98.1% per year over the last three years.

Empire State Realty Trust Stock Up 1.1 %

Shares of ESRT stock traded up $0.09 during mid-day trading on Wednesday, hitting $8.32. 42,030 shares of the stock traded hands, compared to its average volume of 1,290,052. Empire State Realty Trust has a 52-week low of $8.09 and a 52-week high of $11.62. The stock has a market cap of $1.40 billion, a P/E ratio of 29.69 and a beta of 1.39. 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 stock’s fifty day moving average is $9.33 and its two-hundred day moving average is $10.28.

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

Analyst Ratings Changes

ESRT has been the topic of several research analyst reports. BMO Capital Markets boosted their target price on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the stock 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 research report on Monday, March 3rd.

Insiders Place Their Bets

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 10,000 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $10.10, for a total transaction of $101,000.00. Following the sale, the executive vice president now directly owns 86,807 shares of the company’s stock, valued at approximately $876,750.70. This trade represents a 10.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 13.95% of the stock is currently owned by insiders.

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.