Empire State Realty Trust (NYSE:ESRT) posted its earnings results on Wednesday. The real estate investment trust reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01, Bloomberg Earnings reports. The company had revenue of $143.40 million during the quarter, compared to analysts’ expectations of $123.77 million. Empire State Realty Trust had a net margin of 10.86% and a return on equity of 4.01%. Empire State Realty Trust’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period last year, the company posted $0.20 earnings per share.
Shares of NYSE:ESRT traded up $0.19 on Wednesday, reaching $15.40. The company’s stock had a trading volume of 727,500 shares, compared to its average volume of 1,102,951. Empire State Realty Trust has a 52-week low of $13.66 and a 52-week high of $17.86. The stock has a market capitalization of $2.69 billion, a P/E ratio of 15.67, a PEG ratio of 6.00 and a beta of 0.93. The company has a quick ratio of 6.90, a current ratio of 6.90 and a debt-to-equity ratio of 0.96.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.105 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.73%. Empire State Realty Trust’s payout ratio is currently 42.86%.
Several large investors have recently modified their holdings of the business. First Mercantile Trust Co. grew its stake in shares of Empire State Realty Trust by 4.7% in the 4th quarter. First Mercantile Trust Co. now owns 15,194 shares of the real estate investment trust’s stock worth $216,000 after buying an additional 680 shares in the last quarter. Advisor Group Inc. lifted its holdings in shares of Empire State Realty Trust by 6.1% in the 4th quarter. Advisor Group Inc. now owns 12,547 shares of the real estate investment trust’s stock worth $179,000 after acquiring an additional 722 shares during the last quarter. Eii Capital Management Inc. lifted its holdings in shares of Empire State Realty Trust by 4.6% in the 4th quarter. Eii Capital Management Inc. now owns 20,602 shares of the real estate investment trust’s stock worth $293,000 after acquiring an additional 909 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Empire State Realty Trust by 6.2% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 24,163 shares of the real estate investment trust’s stock worth $336,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Pearl River Capital LLC bought a new stake in shares of Empire State Realty Trust in the 4th quarter worth about $25,000. 75.73% of the stock is owned by institutional investors and hedge funds.
ESRT has been the subject of several research analyst reports. Zacks Investment Research cut shares of Empire State Realty Trust from a “buy” rating to a “hold” rating in a research note on Monday, March 25th. ValuEngine cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. Finally, Citigroup started coverage on shares of Empire State Realty Trust in a research note on Thursday, February 28th. They issued a “neutral” rating and a $17.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average price target of $19.50.
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Empire State Realty Trust Company Profile
Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world's most famous building.
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