Empire State Realty Trust (NYSE:ESRT) Releases Earnings Results

Empire State Realty Trust (NYSE:ESRT) announced its quarterly earnings data on Monday. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, reports. The company had revenue of $193.05 million during the quarter. Empire State Realty Trust had a net margin of 0.93% and a return on equity of 0.40%.

Empire State Realty Trust Price Performance

Shares of NYSE ESRT opened at $5.00 on Tuesday. Empire State Realty Trust has a fifty-two week low of $3.93 and a fifty-two week high of $7.53. The firm’s 50-day simple moving average is $4.50 and its 200 day simple moving average is $5.30. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.15. The stock has a market cap of $866.52 million, a P/E ratio of 71.51 and a beta of 1.40.

Empire State Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a dividend of $0.0350 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, September 15th. Empire State Realty Trust’s dividend payout ratio (DPR) is 200.00%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ESRT shares. Wall Street Zen downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Wells Fargo & Company cut their target price on shares of Empire State Realty Trust from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Empire State Realty Trust in a research report on Friday, August 7th. Citigroup decreased their price target on Empire State Realty Trust from $5.75 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. Finally, Evercore set a $5.00 price objective on Empire State Realty Trust in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Empire State Realty Trust presently has a consensus rating of “Sell” and a consensus price target of $5.00.

Hedge Funds Weigh In On Empire State Realty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of ESRT. Lasalle Investment Management Securities LLC raised its position in shares of Empire State Realty Trust by 64.0% during the first quarter. Lasalle Investment Management Securities LLC now owns 9,058,860 shares of the real estate investment trust’s stock worth $47,106,000 after purchasing an additional 3,534,376 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Empire State Realty Trust by 12.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,787,585 shares of the real estate investment trust’s stock worth $31,384,000 after buying an additional 881,649 shares during the period. SummitTX Capital L.P. boosted its position in shares of Empire State Realty Trust by 11.3% in the first quarter. SummitTX Capital L.P. now owns 1,434,267 shares of the real estate investment trust’s stock worth $7,458,000 after buying an additional 146,070 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Empire State Realty Trust by 32.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,358,330 shares of the real estate investment trust’s stock valued at $7,063,000 after buying an additional 332,810 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Empire State Realty Trust by 56.1% during the first quarter. Bessemer Group Inc. now owns 712,061 shares of the real estate investment trust’s stock valued at $3,703,000 after buying an additional 255,804 shares in the last quarter. Institutional investors own 67.10% of the company’s stock.

About Empire State Realty Trust

Empire State Realty Trust, Inc is a self-managed real estate investment trust that owns, manages, operates, acquires and repositions office, retail and multifamily properties in New York City and the surrounding metropolitan area. Its portfolio is concentrated in Manhattan and includes properties serving businesses, residents, retailers and visitors.

The company’s landmark asset is the Empire State Building, which it operates as a mixed-use office, retail and tourist destination. Empire State Realty Trust also manages the building’s public observatories, offering visitors views of New York City, and provides leasing and property-management services across its portfolio.

Empire State Realty Trust was formed in 2011 and became a publicly traded company in 2013.