Empire State Realty Trust, Inc. to Issue 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 is Friday, March 14th.

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

Empire State Realty Trust Price Performance

Shares of ESRT traded up $0.09 during midday trading on Wednesday, hitting $8.32. 42,030 shares of the company traded hands, compared to its average volume of 1,290,052. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 29.69 and a beta of 1.39. The firm has a 50 day moving average of $9.33 and a 200-day moving average of $10.28. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 3.72. Empire State Realty Trust has a 52 week low of $8.09 and a 52 week high of $11.62.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly 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 return on equity of 2.84% and a net margin of 6.45%. The company had revenue of $155.13 million during the quarter, compared to analyst estimates of $192.62 million. On average, analysts forecast that Empire State Realty Trust will post 0.88 EPS for the current fiscal year.

Insider Transactions at Empire State Realty Trust

In related news, EVP Thomas P. Durels sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $10.10, for a total transaction of $101,000.00. Following the transaction, the executive vice president now directly owns 86,807 shares in the company, valued at approximately $876,750.70. This represents a 10.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 13.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ESRT shares. StockNews.com upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. 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 report on Friday, November 15th.

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.