Empire State Realty Trust, Inc. (ESRT) Set to Announce Earnings on Tuesday
Empire State Realty Trust, Inc. (NYSE:ESRT) will post its quarterly earnings results after the market closes on Tuesday, October 31st.
Empire State Realty Trust (NYSE:ESRT) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $120.80 million during the quarter, compared to analysts’ expectations of $118.81 million. Empire State Realty Trust had a net margin of 11.67% and a return on equity of 3.85%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 earnings per share. On average, analysts expect Empire State Realty Trust to post $0.96 EPS for the current fiscal year and $1.04 EPS for the next fiscal year.
Empire State Realty Trust, Inc. (NYSE:ESRT) opened at 20.51 on Tuesday. The firm has a market cap of $3.26 billion, a PE ratio of 52.32 and a beta of 1.01. Empire State Realty Trust, Inc. has a 12 month low of $18.62 and a 12 month high of $21.98. The firm’s 50-day moving average is $20.55 and its 200-day moving average is $20.75.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.105 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.42 annualized dividend and a dividend yield of 2.05%. Empire State Realty Trust’s dividend payout ratio (DPR) is 107.70%.
A hedge fund recently raised its stake in Empire State Realty Trust stock. The Manufacturers Life Insurance Company raised its position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 9.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,571 shares of the real estate investment trust’s stock after buying an additional 479 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Empire State Realty Trust were worth $116,000 at the end of the most recent quarter. 83.52% of the stock is owned by institutional investors and hedge funds.
ESRT has been the subject of several research reports. BidaskClub upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating and set a $23.00 price objective for the company in a research report on Monday, October 16th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $22.00.
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About Empire State Realty Trust
Empire State Realty Trust, Inc is a real estate investment trust. The Company 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 Company operates through two segments: Real Estate and Observatory.
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