Empire State Realty Trust (NYSE:ESRT) Cut to “Sell” at StockNews.com

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

Separately, BMO Capital Markets upped their target price on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 15th.

Empire State Realty Trust Price Performance

Empire State Realty Trust stock opened at $9.61 on Thursday. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $1.60 billion, a P/E ratio of 35.58 and a beta of 1.41. The business has a 50-day moving average of $10.41 and a 200-day moving average of $10.58. Empire State Realty Trust has a 1 year low of $8.78 and a 1 year high of $11.62.

Empire State Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Monday, December 16th. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 51.85%.

Insider Activity at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $10.10, for a total transaction of $101,000.00. Following the completion of the transaction, the executive vice president now directly owns 86,807 shares of the company’s stock, valued at $876,750.70. This trade represents a 10.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.95% of the stock is owned by insiders.

Institutional Trading of Empire State Realty Trust

A number of institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its stake in shares of Empire State Realty Trust by 4.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 28,391 shares of the real estate investment trust’s stock worth $315,000 after buying an additional 1,231 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Empire State Realty Trust by 35.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 1,419 shares in the last quarter. Signaturefd LLC boosted its position in Empire State Realty Trust by 81.6% during the third quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,524 shares during the last quarter. Sei Investments Co. grew its stake in Empire State Realty Trust by 4.0% in the second quarter. Sei Investments Co. now owns 49,131 shares of the real estate investment trust’s stock valued at $461,000 after purchasing an additional 1,882 shares in the last quarter. Finally, Creative Planning increased its position in shares of Empire State Realty Trust by 20.5% during the 3rd quarter. Creative Planning now owns 12,598 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 2,145 shares during the last quarter. Institutional investors own 67.10% of the company’s stock.

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.