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

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

Empire State Realty Trust Stock Performance

Empire State Realty Trust stock traded up $0.05 during trading hours on Friday, reaching $7.43. 1,781,420 shares of the company were exchanged, compared to its average volume of 1,849,258. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 30.94 and a beta of 1.66. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 1.15. The stock has a 50-day moving average of $8.02 and a 200 day moving average of $8.20. Empire State Realty Trust has a 12 month low of $6.56 and a 12 month high of $11.62.

Empire State Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.035 per share. The ex-dividend date was Friday, June 13th. This represents a $0.14 dividend on an annualized basis and a yield of 1.89%. Empire State Realty Trust's payout ratio is currently 58.33%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Citigroup reiterated a "neutral" rating on shares of Empire State Realty Trust in a report on Friday, April 11th. Wall Street Zen downgraded Empire State Realty Trust from a "hold" rating to a "sell" rating in a report on Monday, May 19th. Finally, Wells Fargo & Company dropped their target price on Empire State Realty Trust from $11.00 to $8.30 and set an "underweight" rating on the stock in a report on Monday, May 19th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $10.43.

Institutional Investors Weigh In On Empire State Realty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in ESRT. Amundi grew its position in shares of Empire State Realty Trust by 2.0% in the first quarter. Amundi now owns 78,614 shares of the real estate investment trust's stock valued at $585,000 after purchasing an additional 1,562 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Empire State Realty Trust by 35.9% in the first quarter. AQR Capital Management LLC now owns 26,800 shares of the real estate investment trust's stock valued at $209,000 after purchasing an additional 7,079 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Empire State Realty Trust by 5.9% in the first 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. boosted its position in shares of Empire State Realty Trust by 137.7% in the first 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 boosted its position in shares of Empire State Realty Trust by 9.5% in the first 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 owned by institutional investors and hedge funds.

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.