Empire State Realty Trust (NYSE:ESRT) Releases FY 2024 Earnings Guidance

Empire State Realty Trust (NYSE:ESRT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.900-0.940 for the period, compared to the consensus earnings per share estimate of 0.920. The company issued revenue guidance of -.

Empire State Realty Trust Price Performance

Shares of Empire State Realty Trust stock traded down $0.24 during trading on Thursday, reaching $9.12. The company’s stock had a trading volume of 1,236,987 shares, compared to its average volume of 1,115,117. The company has a market capitalization of $1.50 billion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 3.44 and a beta of 1.30. Empire State Realty Trust has a 12-month low of $5.43 and a 12-month high of $10.32. The business has a 50 day moving average price of $9.70 and a 200-day moving average price of $9.35. The company has a quick ratio of 7.04, a current ratio of 7.04 and a debt-to-equity ratio of 1.29.

Empire State Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.035 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.14 annualized dividend and a yield of 1.54%. Empire State Realty Trust’s payout ratio is currently 45.16%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Empire State Realty Trust from a sell rating to a hold rating in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $8.33.

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.