Empire State Realty (NYSE:ESRT) CFO David A. Karp purchased 1,000 shares of the firm’s stock in a transaction on Friday, March 9th. The shares were purchased at an average price of $16.65 per share, with a total value of $16,650.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of ESRT opened at $16.56 on Friday. The stock has a market cap of $2,715.09, a PE ratio of 17.25, a P/E/G ratio of 5.11 and a beta of 0.95. The company has a debt-to-equity ratio of 0.85, a current ratio of 6.65 and a quick ratio of 6.65. Empire State Realty has a 52 week low of $16.26 and a 52 week high of $21.72.
Empire State Realty (NYSE:ESRT) last announced its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.25 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.25. The business had revenue of $183.10 million during the quarter, compared to analyst estimates of $123.85 million. Empire State Realty had a net margin of 11.72% and a return on equity of 3.95%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 earnings per share. equities analysts predict that Empire State Realty will post 0.93 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Thursday, March 15th were given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Wednesday, March 14th. Empire State Realty’s dividend payout ratio is currently 43.75%.
Several institutional investors and hedge funds have recently made changes to their positions in ESRT. Citadel Advisors LLC raised its position in shares of Empire State Realty by 2,199.9% during the third quarter. Citadel Advisors LLC now owns 1,170,876 shares of the real estate investment trust’s stock valued at $24,050,000 after buying an additional 1,119,967 shares during the last quarter. Deutsche Bank AG raised its position in shares of Empire State Realty by 23.1% during the fourth quarter. Deutsche Bank AG now owns 4,841,599 shares of the real estate investment trust’s stock valued at $99,392,000 after buying an additional 907,440 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Empire State Realty by 12.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 8,221,178 shares of the real estate investment trust’s stock valued at $168,781,000 after buying an additional 898,581 shares during the last quarter. Cohen & Steers Inc. raised its position in shares of Empire State Realty by 3.9% during the third quarter. Cohen & Steers Inc. now owns 19,570,975 shares of the real estate investment trust’s stock valued at $401,988,000 after buying an additional 727,977 shares during the last quarter. Finally, Resolution Capital Ltd raised its position in Empire State Realty by 5.9% in the fourth quarter. Resolution Capital Ltd now owns 6,408,038 shares of the real estate investment trust’s stock worth $131,557,000 after purchasing an additional 356,916 shares in the last quarter. 81.94% of the stock is owned by institutional investors and hedge funds.
ESRT has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Empire State Realty from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. BMO Capital Markets set a $22.00 price target on shares of Empire State Realty and gave the company a “buy” rating in a report on Wednesday, February 21st. Stifel Nicolaus decreased their price target on shares of Empire State Realty from $23.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, February 14th. Finally, Wells Fargo decreased their price target on shares of Empire State Realty from $21.00 to $19.00 and set a “market perform” rating for the company in a report on Friday, March 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Empire State Realty currently has an average rating of “Hold” and an average target price of $20.67.
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About Empire State Realty
Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world's most famous building.
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