Empire State Realty Trust Inc (NYSE:ESRT) announced a quarterly dividend on Monday, November 27th, Wall Street Journal reports. Stockholders of record on Friday, December 15th will be paid a dividend of 0.105 per share by the real estate investment trust on Friday, December 29th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Thursday, December 14th.

Empire State Realty Trust has increased its dividend payment by an average of 71.4% per year over the last three years. Empire State Realty Trust has a payout ratio of 44.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Empire State Realty Trust to earn $1.01 per share next year, which means the company should continue to be able to cover its $0.42 annual dividend with an expected future payout ratio of 41.6%.

Empire State Realty Trust (NYSE ESRT) opened at $20.37 on Friday. The company has a market capitalization of $3,227.84, a PE ratio of 20.98, a P/E/G ratio of 5.18 and a beta of 0.98. Empire State Realty Trust has a 52 week low of $19.54 and a 52 week high of $21.98. The company has a quick ratio of 4.93, a current ratio of 4.93 and a debt-to-equity ratio of 0.80.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.01). The firm had revenue of $122.39 million during the quarter, compared to analyst estimates of $122.22 million. Empire State Realty Trust had a return on equity of 3.98% and a net margin of 11.90%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $0.26 earnings per share. analysts anticipate that Empire State Realty Trust will post 0.94 EPS for the current fiscal year.

A number of equities analysts recently commented on the company. Evercore ISI upgraded Empire State Realty Trust from an “in” rating to a “line” rating and set a $23.00 price target for the company in a research note on Monday, December 4th. TheStreet downgraded Empire State Realty Trust from a “b” rating to a “c+” rating in a research note on Thursday, November 16th. Zacks Investment Research downgraded Empire State Realty Trust from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. BMO Capital Markets restated a “buy” rating and issued a $23.00 target price on shares of Empire State Realty Trust in a research note on Wednesday, November 1st. Finally, BidaskClub downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, October 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $22.50.

In other Empire State Realty Trust news, Chairman Anthony E. Malkin sold 1,243,163 shares of Empire State Realty Trust stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $20.45, for a total value of $25,422,683.35. Following the completion of the transaction, the chairman now directly owns 156,416 shares in the company, valued at $3,198,707.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 11.80% of the company’s stock.

An institutional investor recently raised its position in Empire State Realty Trust stock. The Manufacturers Life Insurance Company increased its position in shares of Empire State Realty Trust Inc (NYSE:ESRT) by 9.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,571 shares of the real estate investment trust’s stock after purchasing an additional 479 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Empire State Realty Trust were worth $116,000 at the end of the most recent quarter. Institutional investors and hedge funds own 82.51% of the company’s stock.

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Empire State Realty Trust Company Profile

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.

Dividend History for Empire State Realty Trust (NYSE:ESRT)

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