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

Empire State Realty Trust, Inc. (NYSE:ESRT) declared a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Stockholders of record on Monday, September 16th will be paid a dividend of 0.035 per share by the real estate investment trust on Monday, September 30th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Monday, September 16th.

Empire State Realty Trust has decreased its dividend by an average of 12.6% per year over the last three years.

Empire State Realty Trust Trading Up 2.9 %

Shares of ESRT stock opened at $10.60 on Friday. Empire State Realty Trust has a 52-week low of $7.25 and a 52-week high of $11.20. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 35.33, a P/E/G ratio of 6.11 and a beta of 1.40. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.24 and a current ratio of 3.24. The firm has a fifty day moving average of $10.40 and a 200-day moving average of $9.78.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.14). The business had revenue of $189.54 million during the quarter. Empire State Realty Trust had a net margin of 5.89% and a return on equity of 2.57%. During the same period last year, the company posted $0.26 EPS. On average, equities research analysts forecast that Empire State Realty Trust will post 0.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ESRT shares. Wells Fargo & Company increased their target price on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Wednesday. BMO Capital Markets increased their target price on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Finally, StockNews.com cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Friday, July 26th.

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.