StockNews.com Upgrades Empire State Realty Trust (NYSE:ESRT) to "Hold"

StockNews.com upgraded shares of Empire State Realty Trust (NYSE:ESRT - Free Report) from a sell rating to a hold rating in a report issued on Wednesday.

Empire State Realty Trust Stock Performance

Empire State Realty Trust stock traded down $0.49 during mid-day trading on Wednesday, reaching $9.49. 1,079,638 shares of the company traded hands, compared to its average volume of 1,106,600. The company has a debt-to-equity ratio of 1.29, a current ratio of 7.04 and a quick ratio of 7.04. Empire State Realty Trust has a fifty-two week low of $5.43 and a fifty-two week high of $10.32. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 30.61, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30. The firm's fifty day moving average is $9.79 and its two-hundred day moving average is $9.25.

Empire State Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, March 14th. Empire State Realty Trust's payout ratio is 45.16%.

Hedge Funds Weigh In On Empire State Realty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new stake in shares of Empire State Realty Trust during the fourth quarter valued at about $34,000. Osaic Holdings Inc. increased its holdings in shares of Empire State Realty Trust by 37.6% in the 2nd quarter. Osaic Holdings Inc. now owns 6,091 shares of the real estate investment trust's stock valued at $46,000 after acquiring an additional 1,666 shares during the period. Ensign Peak Advisors Inc acquired a new position in Empire State Realty Trust in the 3rd quarter valued at $44,000. Federated Hermes Inc. acquired a new position in Empire State Realty Trust in the 3rd quarter valued at $59,000. Finally, US Bancorp DE boosted its position in shares of Empire State Realty Trust by 215.6% during the 4th quarter. US Bancorp DE now owns 7,589 shares of the real estate investment trust's stock worth $74,000 after purchasing an additional 5,184 shares in the last quarter. 67.10% of the stock is owned by hedge funds and other institutional investors.

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.