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

Empire State Realty Trust (NYSE:ESRT) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 0.920-0.940 for the period, compared to the consensus estimate of 0.930. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ESRT. BMO Capital Markets raised their price objective on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. StockNews.com downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company lifted their price target on shares of 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.

Empire State Realty Trust Stock Performance

ESRT traded down $0.06 during trading on Thursday, reaching $10.84. 47,917 shares of the company’s stock were exchanged, compared to its average volume of 1,123,869. Empire State Realty Trust has a fifty-two week low of $7.34 and a fifty-two week high of $11.62. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.23. The business has a 50 day moving average price of $10.76 and a 200 day moving average price of $10.03. The company has a market capitalization of $1.79 billion, a P/E ratio of 36.33 and a beta of 1.40.

Empire State Realty Trust (NYSE:ESRT) last issued its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). The company had revenue of $199.60 million for the quarter. Empire State Realty Trust had a net margin of 5.89% and a return on equity of 2.57%. During the same period in the previous year, the firm posted $0.25 earnings per share. As a group, analysts predict that Empire State Realty Trust will post 0.92 earnings per share for the current fiscal year.

Empire State Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.29%. Empire State Realty Trust’s payout ratio is presently 46.67%.

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.