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

Empire State Realty Trust (NYSE:ESRT) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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

ESRT stock traded down $0.12 on Wednesday, reaching $9.36. 1,091,720 shares of the company’s stock were exchanged, compared to its average volume of 1,113,826. The stock has a fifty day moving average of $9.71 and a 200-day moving average of $9.35. Empire State Realty Trust has a twelve month low of $5.43 and a twelve month high of $10.32. The firm has a market cap of $1.54 billion, a PE ratio of 30.13, a P/E/G ratio of 3.38 and a beta of 1.30. 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 company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Thursday, March 14th. Empire State Realty Trust’s dividend payout ratio (DPR) is 45.16%.

Analysts Set New Price Targets

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

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.