Empire State Realty Trust, Inc. (NYSE:ESRT) Declares Quarterly Dividend of $0.04

Key Points

• Empire State Realty Trust declared a quarterly dividend of $0.04 per share, with stockholders of record set to receive it on September 30th, representing an annualized yield of 1.9%.
• Following the announcement, ESRT stock rose 3.5%, trading at $7.51 with a market capitalization of $1.26 billion.
• Research ratings for ESRT are mixed, with a consensus "Hold" rating and an average price target of $10.43, reflecting recent downgrades by analysts from firms like Wells Fargo and Wall Street Zen.

Empire State Realty Trust, Inc. (NYSE:ESRT - Get Free Report) announced a quarterly dividend on Wednesday, August 6th, RTT News reports. Stockholders of record on Monday, September 15th will be given a dividend of 0.035 per share by the real estate investment trust on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%.

Empire State Realty Trust Stock Up 3.5%

Shares of ESRT stock traded up $0.26 on Wednesday, reaching $7.51. 3,484,209 shares of the company's stock traded hands, compared to its average volume of 1,608,637. The business's 50 day moving average price is $8.00 and its two-hundred day moving average price is $8.09. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.83 and a current ratio of 3.83. The company has a market capitalization of $1.26 billion, a P/E ratio of 31.27 and a beta of 1.70. Empire State Realty Trust has a 12-month low of $6.56 and a 12-month high of $11.62.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.22 EPS for the quarter. The firm had revenue of $153.54 million for the quarter. Empire State Realty Trust had a net margin of 5.67% and a return on equity of 2.46%. On average, equities analysts forecast that Empire State Realty Trust will post 0.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ESRT has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Empire State Realty Trust from a "hold" rating to a "sell" rating in a research note on Monday, May 19th. Wells Fargo & Company lowered their price objective on shares of Empire State Realty Trust from $11.00 to $8.30 and set an "underweight" rating for the company in a research report on Monday, May 19th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Empire State Realty Trust in a research report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $10.43.

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.

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