Empire State Realty Trust (NYSE:ESRT) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Empire State Realty Trust (NYSE:ESRT) from a sell rating to a hold rating in a research report report published on Saturday morning.

Empire State Realty Trust Trading Up 0.9 %

Shares of ESRT stock opened at $9.29 on Friday. The business’s fifty day moving average price is $9.67 and its 200 day moving average price is $9.38. The firm has a market capitalization of $1.52 billion, a PE ratio of 30.97, a P/E/G ratio of 3.38 and a beta of 1.30. 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 1-year low of $5.43 and a 1-year high of $10.32.

Empire State Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.035 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.51%. Empire State Realty Trust’s dividend payout ratio is presently 46.67%.

Institutional Trading of Empire State Realty Trust

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in Empire State Realty Trust in the third quarter valued at about $515,000. Asset Management One Co. Ltd. grew its holdings in shares of Empire State Realty Trust by 2.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 216,064 shares of the real estate investment trust’s stock worth $1,737,000 after acquiring an additional 5,284 shares during the period. Monument Capital Management purchased a new position in Empire State Realty Trust in the 3rd quarter valued at approximately $403,000. Verdence Capital Advisors LLC raised its holdings in Empire State Realty Trust by 5.2% during the third quarter. Verdence Capital Advisors LLC now owns 32,950 shares of the real estate investment trust’s stock worth $265,000 after purchasing an additional 1,626 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Empire State Realty Trust by 14.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,563 shares of the real estate investment trust’s stock worth $519,000 after purchasing an additional 7,987 shares during the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.

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.