Empire State Realty Trust (NYSE:ESRT) Releases Quarterly Earnings Results, Misses Estimates By $0.14 EPS

Empire State Realty Trust (NYSE:ESRT) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.14), Fidelity Earnings reports. Empire State Realty Trust had a net margin of 8.81% and a return on equity of 3.26%. The firm had revenue of $150.23 million for the quarter, compared to analyst estimates of $125.22 million. During the same period last year, the firm posted $0.25 EPS. The business’s revenue was up 21.5% compared to the same quarter last year.

Shares of NYSE ESRT traded up $0.13 during midday trading on Thursday, reaching $14.55. 85,418 shares of the company traded hands, compared to its average volume of 745,023. Empire State Realty Trust has a 52 week low of $12.77 and a 52 week high of $16.47. The stock has a 50-day moving average price of $14.06 and a 200 day moving average price of $14.67. The company has a debt-to-equity ratio of 1.00, a current ratio of 6.10 and a quick ratio of 6.10. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 6.45 and a beta of 0.73.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend was Friday, September 13th. Empire State Realty Trust’s dividend payout ratio is currently 42.86%.

Several equities analysts have recently issued reports on the stock. BMO Capital Markets downgraded shares of Empire State Realty Trust from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $19.00 to $15.00 in a report on Friday, September 6th. Citigroup reduced their price target on shares of Empire State Realty Trust from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Zacks Investment Research downgraded shares of Empire State Realty Trust from a “buy” rating to a “hold” rating in a report on Monday, October 7th. Finally, ValuEngine raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.

Empire State Realty Trust Company Profile

Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), 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 world's most famous building.

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

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