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

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%. The ex-dividend date is Monday, September 15th.

Empire State Realty Trust Trading Down 2.5%

Shares of NYSE:ESRT traded down $0.19 during trading on Friday, reaching $7.20. The stock had a trading volume of 1,359,594 shares, compared to its average volume of 2,039,568. The firm's fifty day moving average is $7.97 and its 200 day moving average is $8.03. The company has a debt-to-equity ratio of 1.15, a quick ratio of 4.03 and a current ratio of 4.03. Empire State Realty Trust has a 52 week low of $6.56 and a 52 week high of $11.62. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 29.98 and a beta of 1.70.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $0.22 EPS for the quarter. Empire State Realty Trust had a net margin of 5.67% and a return on equity of 2.45%. The company had revenue of $153.54 million for the quarter. As a group, equities analysts forecast that Empire State Realty Trust will post 0.88 EPS for the current fiscal year.

Analysts Set New Price Targets

ESRT has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of Empire State Realty Trust from $11.00 to $8.30 and set an "underweight" rating on the stock in a research report on Monday, May 19th. Wall Street Zen downgraded shares of Empire State Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Empire State Realty Trust presently has a consensus rating of "Hold" and an average price target of $10.43.

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.