Empire State Realty Trust (NYSE:ESRT) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of Empire State Realty Trust (NYSE:ESRT) from a sell rating to a hold rating in a report published on Friday.

Empire State Realty Trust Trading Up 1.1 %

ESRT opened at $9.15 on Friday. The stock has a market capitalization of $1.50 billion, a PE ratio of 29.52, a P/E/G ratio of 3.29 and a beta of 1.30. The firm’s fifty day moving average price is $9.73 and its 200 day moving average price is $9.30. The company has a debt-to-equity ratio of 1.29, a current ratio of 7.04 and a quick ratio of 7.04. Empire State Realty Trust has a 12-month low of $5.43 and a 12-month high of $10.32.

Empire State Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.035 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.53%. Empire State Realty Trust’s payout ratio is currently 45.16%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ESRT. Raymond James & Associates lifted its position in shares of Empire State Realty Trust by 25.0% in the 1st quarter. Raymond James & Associates now owns 276,068 shares of the real estate investment trust’s stock worth $2,711,000 after buying an additional 55,271 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Empire State Realty Trust in the 1st quarter worth about $141,000. Bank of Montreal Can lifted its position in shares of Empire State Realty Trust by 7.6% in the 1st quarter. Bank of Montreal Can now owns 27,846 shares of the real estate investment trust’s stock worth $276,000 after buying an additional 1,955 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Empire State Realty Trust by 36.4% in the 1st quarter. MetLife Investment Management LLC now owns 67,238 shares of the real estate investment trust’s stock worth $660,000 after buying an additional 17,932 shares during the last quarter. Finally, APG Asset Management N.V. bought a new position in shares of Empire State Realty Trust in the 1st quarter worth about $1,515,000. 67.10% of the stock is currently owned by institutional investors.

About Empire State Realty Trust

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.