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

Empire State Realty Trust (NYSE:ESRT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.900-0.940 for the period, compared to the consensus estimate of 0.920. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Empire State Realty Trust from a sell rating to a hold rating in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $8.33.

Empire State Realty Trust Stock Performance

Shares of ESRT traded down $0.24 on Thursday, reaching $9.12. 1,236,987 shares of the company’s stock traded hands, compared to its average volume of 1,115,117. The stock’s 50 day simple moving average is $9.70 and its two-hundred day simple moving average is $9.35. The stock has a market cap of $1.50 billion, a PE ratio of 29.45, a PEG ratio of 3.44 and a beta of 1.30. Empire State Realty Trust has a 52-week low of $5.43 and a 52-week high of $10.32. The company has a current ratio of 7.04, a quick ratio of 7.04 and a debt-to-equity ratio of 1.29.

Empire State Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Thursday, March 14th. Empire State Realty Trust’s payout ratio is 45.16%.

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.