Empire State Realty Trust (NYSE:ESRT) Releases FY 2024 Earnings Guidance

Empire State Realty Trust (NYSE:ESRT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.900-0.940 for the period, compared to the consensus estimate of 0.920. The company issued revenue guidance of -.

Empire State Realty Trust Stock Performance

NYSE ESRT traded up $0.09 on Friday, hitting $9.21. The stock had a trading volume of 890,784 shares, compared to its average volume of 1,117,152. The company’s 50-day moving average is $9.68 and its two-hundred day moving average is $9.35. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 30.60, a P/E/G ratio of 3.44 and a beta of 1.30. Empire State Realty Trust has a one year low of $5.43 and a one year high of $10.32. The company has a quick ratio of 7.04, a current ratio of 7.04 and a debt-to-equity ratio of 1.29.

Empire State Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Thursday, March 14th. Empire State Realty Trust’s dividend payout ratio is currently 46.67%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Empire State Realty Trust from a sell rating to a hold rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $8.33.

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.