Wall Street analysts predict that Empire State Realty Trust, Inc. (NYSE:ESRT) will report earnings per share of $0.24 for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Empire State Realty Trust’s earnings, with estimates ranging from $0.23 to $0.25. Empire State Realty Trust also posted earnings per share of $0.24 in the same quarter last year. The company is scheduled to issue its next earnings report after the market closes on Wednesday, July 26th.

According to Zacks, analysts expect that Empire State Realty Trust will report full-year earnings of $0.95 per share for the current fiscal year, with EPS estimates ranging from $0.93 to $0.97. For the next fiscal year, analysts forecast that the business will post earnings of $1.05 per share, with EPS estimates ranging from $1.02 to $1.08. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Empire State Realty Trust.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Empire State Realty Trust had a return on equity of 3.88% and a net margin of 11.02%. The company had revenue of $164.95 million for the quarter, compared to analyst estimates of $118.20 million. During the same quarter last year, the firm earned $0.22 EPS. Empire State Realty Trust’s revenue for the quarter was up 5.0% compared to the same quarter last year.

A number of equities analysts have recently weighed in on ESRT shares. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $21.00 target price on shares of Empire State Realty Trust in a research note on Thursday, June 22nd. BMO Capital Markets set a $23.00 price objective on Empire State Realty Trust and gave the stock a “buy” rating in a research note on Wednesday, May 31st. TheStreet upgraded Empire State Realty Trust from a “c+” rating to a “b” rating in a research note on Thursday, April 27th. Finally, Evercore ISI started coverage on Empire State Realty Trust in a research note on Wednesday, May 31st. They set an “in-line” rating and a $23.00 price objective on the stock. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $22.20.

Shares of Empire State Realty Trust (NYSE:ESRT) traded up 1.05% during mid-day trading on Wednesday, hitting $20.12. The stock had a trading volume of 1,155,151 shares. The stock has a 50 day moving average of $20.96 and a 200-day moving average of $20.77. Empire State Realty Trust has a 52 week low of $18.62 and a 52 week high of $22.31. The stock has a market capitalization of $3.18 billion, a P/E ratio of 53.23 and a beta of 1.01.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were paid a dividend of $0.105 per share. The ex-dividend date was Tuesday, June 13th. This represents a $0.42 dividend on an annualized basis and a yield of 2.09%. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 110.53%.

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in Empire State Realty Trust by 3,596.9% in the first quarter. BlackRock Inc. now owns 6,901,650 shares of the real estate investment trust’s stock worth $142,448,000 after buying an additional 6,714,963 shares during the period. Vanguard Group Inc. raised its position in Empire State Realty Trust by 8.1% in the first quarter. Vanguard Group Inc. now owns 22,461,415 shares of the real estate investment trust’s stock worth $463,603,000 after buying an additional 1,676,832 shares during the period. Bank of New York Mellon Corp raised its position in Empire State Realty Trust by 225.1% in the first quarter. Bank of New York Mellon Corp now owns 2,106,742 shares of the real estate investment trust’s stock worth $43,484,000 after buying an additional 1,458,678 shares during the period. Norges Bank bought a new position in Empire State Realty Trust during the fourth quarter worth approximately $26,057,000. Finally, Alliancebernstein L.P. raised its position in Empire State Realty Trust by 26.1% in the first quarter. Alliancebernstein L.P. now owns 4,245,957 shares of the real estate investment trust’s stock worth $87,637,000 after buying an additional 878,264 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Analysts Expect Empire State Realty Trust, Inc. (NYSE:ESRT) to Announce $0.24 EPS” was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another domain, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The legal version of this piece can be read at https://www.thecerbatgem.com/2017/08/07/analysts-expect-empire-state-realty-trust-inc-nyseesrt-to-announce-0-24-eps-updated-updated-updated.html.

About Empire State Realty Trust

Empire State Realty Trust, Inc is a real estate investment trust. The Company 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 Company operates through two segments: Real Estate and Observatory.

Get a free copy of the Zacks research report on Empire State Realty Trust (ESRT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Stock Ratings for Empire State Realty Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Empire State Realty Trust Inc. and related stocks with our FREE daily email newsletter.