Empire State Realty Trust (NYSE:ESRT) Upgraded at StockNews.com

StockNews.com upgraded shares of Empire State Realty Trust (NYSE:ESRT) from a sell rating to a hold rating in a research note published on Saturday morning.

Empire State Realty Trust Trading Up 0.9 %

Shares of NYSE:ESRT opened at $9.29 on Friday. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 3.38 and a beta of 1.30. The business’s 50 day moving average price is $9.67 and its 200-day moving average price is $9.38. The company has a debt-to-equity ratio of 1.29, a current ratio of 7.04 and a quick ratio of 7.04. Empire State Realty Trust has a 1 year low of $5.43 and a 1 year high of $10.32.

Empire State Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.035 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.51%. Empire State Realty Trust’s dividend payout ratio is currently 46.67%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new position in shares of Empire State Realty Trust during the fourth quarter valued at approximately $34,000. Federated Hermes Inc. purchased a new stake in shares of Empire State Realty Trust during the third quarter worth approximately $59,000. Spirit of America Management Corp NY acquired a new position in Empire State Realty Trust in the 4th quarter valued at $87,000. QRG Capital Management Inc. purchased a new position in Empire State Realty Trust in the 3rd quarter valued at $109,000. Finally, New York State Teachers Retirement System acquired a new stake in Empire State Realty Trust during the 4th quarter worth $115,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

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.