Empire State Realty Trust (NYSE:ESRT) Posts Quarterly Earnings Results

Empire State Realty Trust (NYSE:ESRT - Get Free Report) posted its quarterly earnings data on Wednesday. The real estate investment trust reported $0.22 EPS for the quarter, Zacks reports. Empire State Realty Trust had a net margin of 5.67% and a return on equity of 2.46%. The company had revenue of $153.54 million during the quarter. Empire State Realty Trust updated its FY 2025 guidance to 0.830-0.860 EPS.

Empire State Realty Trust Stock Performance

NYSE:ESRT traded up $0.05 during mid-day trading on Friday, hitting $7.43. The stock had a trading volume of 1,781,420 shares, compared to its average volume of 2,029,281. Empire State Realty Trust has a twelve month low of $6.56 and a twelve month high of $11.62. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 30.94 and a beta of 1.66. The company's 50 day simple moving average is $8.02 and its 200 day simple moving average is $8.20. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.83 and a current ratio of 3.83.

Empire State Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.035 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.14 annualized dividend and a yield of 1.89%. Empire State Realty Trust's dividend payout ratio (DPR) is currently 58.33%.

Institutional Investors Weigh In On Empire State Realty Trust

Several hedge funds have recently bought and sold shares of the company. Amundi raised its holdings in Empire State Realty Trust by 2.0% in the 1st quarter. Amundi now owns 78,614 shares of the real estate investment trust's stock valued at $585,000 after acquiring an additional 1,562 shares during the period. AQR Capital Management LLC raised its holdings in Empire State Realty Trust by 35.9% in the 1st quarter. AQR Capital Management LLC now owns 26,800 shares of the real estate investment trust's stock valued at $209,000 after acquiring an additional 7,079 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Empire State Realty Trust by 5.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,552 shares of the real estate investment trust's stock valued at $638,000 after acquiring an additional 4,535 shares during the period. Goldman Sachs Group Inc. raised its holdings in Empire State Realty Trust by 137.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,105,313 shares of the real estate investment trust's stock valued at $24,284,000 after acquiring an additional 1,798,850 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Empire State Realty Trust by 9.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,134,086 shares of the real estate investment trust's stock valued at $8,869,000 after acquiring an additional 98,148 shares during the period. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ESRT. Citigroup restated a "neutral" rating on shares of Empire State Realty Trust in a research note on Friday, April 11th. 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. Finally, Wells Fargo & Company reduced 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 note on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Empire State Realty Trust currently has an average rating of "Hold" and a consensus target price 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.