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

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

Wall Street Analysts Forecast Growth

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

Empire State Realty Trust Price Performance

Shares of Empire State Realty Trust stock traded down $0.12 on Wednesday, hitting $9.36. 1,091,720 shares of the company traded hands, compared to its average volume of 1,113,826. The stock has a market capitalization of $1.54 billion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of 3.38 and a beta of 1.30. The company has a debt-to-equity ratio of 1.29, a quick ratio of 7.04 and a current ratio of 7.04. Empire State Realty Trust has a 52 week low of $5.43 and a 52 week high of $10.32. The business has a 50-day simple moving average of $9.71 and a 200 day simple moving average of $9.35.

Empire State Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Thursday, March 14th. Empire State Realty Trust’s payout ratio is currently 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.