Empire State Realty Trust, Inc. (NYSE:ESRT – Get Rating) declared a quarterly dividend on Wednesday, August 17th, Wall Street Journal reports. Investors of record on Thursday, September 15th will be given a dividend of 0.035 per share by the real estate investment trust on Friday, September 30th. This represents a $0.14 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Wednesday, September 14th.
Empire State Realty Trust has decreased its dividend by an average of 37.0% per year over the last three years.
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Empire State Realty Trust Stock Down 2.6 %
ESRT stock opened at $7.94 on Thursday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 6.06 and a current ratio of 6.06. The stock's 50 day simple moving average is $7.46 and its 200 day simple moving average is $8.42. The company has a market cap of $1.33 billion, a P/E ratio of 158.80, a price-to-earnings-growth ratio of 1.12 and a beta of 1.08. Empire State Realty Trust has a fifty-two week low of $6.53 and a fifty-two week high of $11.07.
Analysts Set New Price Targets
A number of brokerages have commented on ESRT. Wells Fargo & Company decreased their price objective on Empire State Realty Trust from $8.00 to $5.50 and set an "underweight" rating for the company in a report on Friday, July 1st. BMO Capital Markets raised Empire State Realty Trust from an "underperform" rating to a "market perform" rating and boosted their price objective for the stock from $7.50 to $8.00 in a report on Thursday, July 14th. StockNews.com raised Empire State Realty Trust from a "sell" rating to a "hold" rating in a report on Friday, July 29th. Evercore ISI set a $10.00 price objective on Empire State Realty Trust in a report on Monday, June 20th. Finally, TheStreet raised Empire State Realty Trust from a "d+" rating to a "c-" rating in a report on Monday, August 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $7.88.
Hedge Funds Weigh In On Empire State Realty Trust
Several institutional investors have recently modified their holdings of ESRT. Captrust Financial Advisors bought a new position in Empire State Realty Trust during the second quarter valued at $59,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Empire State Realty Trust during the first quarter worth $109,000. Vanguard Personalized Indexing Management LLC lifted its position in shares of Empire State Realty Trust by 14.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,928 shares of the real estate investment trust's stock worth $84,000 after acquiring an additional 1,497 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Empire State Realty Trust during the first quarter worth $141,000. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Empire State Realty Trust during the first quarter worth $246,000. 77.78% of the stock is owned by institutional investors.
Empire State Realty Trust Company Profile
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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.
Further Reading
- Get a free copy of the StockNews.com research report on Empire State Realty Trust (ESRT)
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