Empire State Realty Trust (NYSE:ESRT) Updates 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 guidance of 0.900-0.940 for the period, compared to the consensus earnings per share estimate of 0.920. The company issued revenue guidance of -.

Empire State Realty Trust Stock Performance

Shares of NYSE ESRT traded up $0.09 during midday trading on Friday, hitting $9.21. 891,030 shares of the company’s stock traded hands, compared to its average volume of 987,687. Empire State Realty Trust has a 1 year low of $5.43 and a 1 year high of $10.32. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 30.70, a price-to-earnings-growth ratio of 3.35 and a beta of 1.30. The company has a debt-to-equity ratio of 1.29, a quick ratio of 7.04 and a current ratio of 7.04. The firm has a fifty day moving average of $9.67 and a 200 day moving average of $9.36.

Empire State Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued 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 (DPR) is presently 46.67%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Empire State Realty Trust from a sell rating to a hold rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $8.33.

Empire State Realty Trust Company Profile

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.