Empire State Realty Trust, Inc. (NYSE:ESRT) to Issue $0.04 Quarterly Dividend

Empire State Realty Trust, Inc. (NYSE:ESRT) announced a quarterly dividend on Friday, December 6th,RTT News reports. Shareholders of record on Monday, December 16th will be given a dividend of 0.035 per share by the real estate investment trust on Tuesday, December 31st. This represents a $0.14 dividend on an annualized basis and a yield of 1.29%.

Empire State Realty Trust has decreased its dividend by an average of 12.6% per year over the last three years.

Empire State Realty Trust Stock Down 0.4 %

Shares of ESRT traded down $0.04 during midday trading on Friday, hitting $10.89. The company had a trading volume of 542,023 shares, compared to its average volume of 1,120,204. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 3.72. Empire State Realty Trust has a 1 year low of $8.78 and a 1 year high of $11.62. The firm has a market capitalization of $1.82 billion, a P/E ratio of 40.48 and a beta of 1.40. The company’s 50-day simple moving average is $10.92 and its 200-day simple moving average is $10.34.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). Empire State Realty Trust had a return on equity of 2.73% and a net margin of 6.22%. The firm had revenue of $199.60 million during the quarter. During the same quarter in the prior year, the company posted $0.25 EPS. As a group, sell-side analysts expect that Empire State Realty Trust will post 0.93 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on ESRT. Wells Fargo & Company raised their price objective on Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 11th. BMO Capital Markets raised their target price on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Finally, StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 2nd.

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.