Empire State Realty Trust (NYSE:ESRT) Announces Quarterly Earnings Results

Empire State Realty Trust (NYSE:ESRT) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.19, Zacks reports. The firm had revenue of $155.13 million for the quarter, compared to analyst estimates of $192.62 million. Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.73%. Empire State Realty Trust updated its FY 2025 guidance to 0.860-0.890 EPS.

Empire State Realty Trust Stock Performance

Shares of NYSE:ESRT opened at $8.69 on Thursday. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 32.42 and a beta of 1.40. The firm’s 50 day simple moving average is $9.82 and its 200 day simple moving average is $10.43. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. Empire State Realty Trust has a fifty-two week low of $8.73 and a fifty-two week high of $11.62.

Empire State Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.14 dividend on an annualized basis and a yield of 1.61%. Empire State Realty Trust’s payout ratio is presently 51.85%.

Analyst Ratings Changes

ESRT has been the topic of several analyst reports. StockNews.com lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd. BMO Capital Markets increased their price objective 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.

Insiders Place Their Bets

In other news, EVP Thomas P. Durels sold 3,193 shares of Empire State Realty Trust stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $10.90, for a total value of $34,803.70. Following the sale, the executive vice president now directly owns 96,807 shares in the company, valued at $1,055,196.30. This trade represents a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 13.95% of the company’s stock.

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.