Zacks: Analysts Expect Empire State Realty Trust Inc (ESRT) to Announce $0.24 Earnings Per Share

Wall Street analysts expect Empire State Realty Trust Inc (NYSE:ESRT) to report $0.24 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Empire State Realty Trust’s earnings, with the lowest EPS estimate coming in at $0.23 and the highest estimate coming in at $0.25. Empire State Realty Trust reported earnings of $0.26 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 7.7%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, October 31st.

On average, analysts expect that Empire State Realty Trust will report full year earnings of $0.89 per share for the current financial year, with EPS estimates ranging from $0.87 to $0.90. For the next financial year, analysts anticipate that the company will post earnings of $0.88 per share, with EPS estimates ranging from $0.85 to $0.90. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Empire State Realty Trust.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings results on Wednesday, July 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The firm had revenue of $124.04 million for the quarter, compared to analyst estimates of $122.58 million. Empire State Realty Trust had a net margin of 12.72% and a return on equity of 4.62%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 EPS.

Several equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Bank of America lowered shares of Empire State Realty Trust from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a report on Tuesday, August 7th. Finally, BTIG Research lowered shares of Empire State Realty Trust from a “buy” rating to a “hold” rating and set a $24.00 price target on the stock. in a report on Tuesday, July 31st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Empire State Realty Trust has a consensus rating of “Hold” and an average target price of $20.50.

Empire State Realty Trust stock traded down $0.01 on Friday, hitting $16.21. The company’s stock had a trading volume of 98,492 shares, compared to its average volume of 1,222,399. The firm has a market capitalization of $2.79 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 4.69 and a beta of 0.92. The company has a debt-to-equity ratio of 0.97, a current ratio of 7.10 and a quick ratio of 7.10. Empire State Realty Trust has a one year low of $15.61 and a one year high of $21.09.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were issued a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend was Thursday, September 13th. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 43.75%.

In other Empire State Realty Trust news, CFO David A. Karp purchased 4,500 shares of the stock in a transaction on Monday, July 30th. The shares were purchased at an average price of $16.19 per share, with a total value of $72,855.00. Following the acquisition, the chief financial officer now directly owns 5,500 shares of the company’s stock, valued at approximately $89,045. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 11.50% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of ESRT. Schwab Charles Investment Management Inc. lifted its position in Empire State Realty Trust by 5.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 412,941 shares of the real estate investment trust’s stock worth $6,934,000 after buying an additional 21,285 shares in the last quarter. Northern Trust Corp lifted its position in Empire State Realty Trust by 7.6% during the 1st quarter. Northern Trust Corp now owns 1,450,041 shares of the real estate investment trust’s stock worth $24,347,000 after buying an additional 102,671 shares in the last quarter. California Public Employees Retirement System lifted its position in Empire State Realty Trust by 41.2% during the 1st quarter. California Public Employees Retirement System now owns 236,076 shares of the real estate investment trust’s stock worth $3,964,000 after buying an additional 68,892 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Empire State Realty Trust by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,277,337 shares of the real estate investment trust’s stock worth $38,237,000 after buying an additional 74,713 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in Empire State Realty Trust by 967.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 38,861 shares of the real estate investment trust’s stock worth $652,000 after buying an additional 35,220 shares in the last quarter. 73.41% of the stock is currently owned by institutional investors and hedge funds.

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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