Empire State Realty Trust (NYSE:ESRT) Announces Earnings Results

Empire State Realty Trust (NYSE:ESRT) announced its earnings results on Wednesday. The real estate investment trust reported ($0.15) earnings per share for the quarter, Zacks reports. The business had revenue of $165.17 million for the quarter. Empire State Realty Trust had a return on equity of 0.40% and a net margin of 0.93%. Empire State Realty Trust updated its FY 2026 guidance to 0.750-0.790 EPS.

Empire State Realty Trust Stock Performance

Shares of ESRT stock traded up $0.09 during trading hours on Friday, reaching $5.09. The stock had a trading volume of 530,955 shares, compared to its average volume of 1,807,462. Empire State Realty Trust has a twelve month low of $4.87 and a twelve month high of $8.07. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.94 and a quick ratio of 1.94. The firm has a market capitalization of $878.36 million, a PE ratio of 72.72 and a beta of 1.35. The firm has a 50-day simple moving average of $5.49 and a 200-day simple moving average of $5.67.

Empire State Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.14 annualized dividend and a dividend yield of 2.7%. Empire State Realty Trust’s payout ratio is 53.85%.

Institutional Investors Weigh In On Empire State Realty Trust

A number of institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. grew its holdings in shares of Empire State Realty Trust by 2.4% in the 4th quarter. Invesco Ltd. now owns 449,186 shares of the real estate investment trust’s stock worth $2,929,000 after acquiring an additional 10,601 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Empire State Realty Trust by 9.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 88,949 shares of the real estate investment trust’s stock worth $580,000 after purchasing an additional 7,315 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Empire State Realty Trust during the 4th quarter valued at about $1,483,000. SummitTX Capital L.P. grew its stake in shares of Empire State Realty Trust by 32.0% in the 4th quarter. SummitTX Capital L.P. now owns 1,288,197 shares of the real estate investment trust’s stock valued at $8,399,000 after buying an additional 312,143 shares in the last quarter. Finally, Inspire Investing LLC increased its holdings in Empire State Realty Trust by 21.8% in the fourth quarter. Inspire Investing LLC now owns 71,737 shares of the real estate investment trust’s stock worth $468,000 after buying an additional 12,829 shares during the last quarter. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on ESRT shares. Citigroup lowered their target price on shares of Empire State Realty Trust from $7.00 to $5.75 and set a “neutral” rating on the stock in a research report on Wednesday, April 15th. Evercore set a $5.50 price target on Empire State Realty Trust in a research note on Thursday. Weiss Ratings downgraded shares of Empire State Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Finally, Wells Fargo & Company dropped their price target on Empire State Realty Trust from $6.30 to $6.00 and set an “underweight” rating for the company in a research note on Monday, June 1st. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Sell” and a consensus target price of $5.75.

Empire State Realty Trust Company Profile

Empire State Realty Trust, Inc is a publicly traded real estate investment trust (REIT) focused on the ownership, management and operation of office and retail properties. The company’s portfolio features the iconic Empire State Building in Midtown Manhattan, alongside a diversified collection of commercial assets situated throughout Manhattan, Brooklyn and select markets in Upstate New York. By offering premium office space and street-level retail, Empire State Realty Trust positions itself as a landlord of choice for corporate tenants, retailers and experiential brands seeking high-profile addresses.

Established through a spin-off of assets in early 2013, Empire State Realty Trust consolidated a mix of landmark and Class A properties, creating scale in one of the world’s most competitive real estate markets.