Empire State Realty Trust (NYSE:ESRT) Announces Earnings Results, Misses Estimates By $0.16 EPS

Empire State Realty Trust (NYSE:ESRT) posted its quarterly earnings data on Monday. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.16), Yahoo Finance reports. Empire State Realty Trust had a return on equity of 2.57% and a net margin of 5.89%. The firm had revenue of $199.60 million for the quarter. During the same period in the prior year, the business posted $0.25 EPS. Empire State Realty Trust updated its FY 2024 guidance to 0.920-0.940 EPS.

Empire State Realty Trust Stock Down 2.5 %

Shares of ESRT opened at $10.90 on Thursday. Empire State Realty Trust has a 52-week low of $7.34 and a 52-week high of $11.62. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.23. The stock has a fifty day simple moving average of $10.76 and a two-hundred day simple moving average of $10.03. The company has a market capitalization of $1.80 billion, a PE ratio of 36.33 and a beta of 1.40.

Empire State Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.28%. The ex-dividend date was Monday, September 16th. Empire State Realty Trust’s payout ratio is currently 46.67%.

Analyst Ratings Changes

A number of analysts have recently issued reports on ESRT shares. BMO Capital Markets lifted their price target on 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. StockNews.com lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company increased their target price on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Wednesday, September 11th.

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.