Empire State Realty Trust (ESRT) Earning Positive Press Coverage, Analysis Shows

Media stories about Empire State Realty Trust (NYSE:ESRT) have been trending positive on Saturday, according to Accern Sentiment. The research group ranks the sentiment of press coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Empire State Realty Trust earned a coverage optimism score of 0.28 on Accern’s scale. Accern also assigned news stories about the real estate investment trust an impact score of 47.2814857884668 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

These are some of the news headlines that may have impacted Accern’s analysis:

Empire State Realty Trust (NYSE ESRT) traded up $0.23 during midday trading on Friday, hitting $20.71. 836,777 shares of the company traded hands, compared to its average volume of 560,685. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.80. Empire State Realty Trust has a twelve month low of $19.54 and a twelve month high of $21.98. The company has a market capitalization of $3,248.46, a PE ratio of 21.11, a PEG ratio of 5.21 and a beta of 0.98.

Empire State Realty Trust (NYSE:ESRT) last released its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.01). Empire State Realty Trust had a net margin of 11.90% and a return on equity of 3.98%. The company had revenue of $122.39 million during the quarter, compared to the consensus estimate of $122.22 million. During the same quarter in the previous year, the business posted $0.26 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. sell-side analysts predict that Empire State Realty Trust will post 0.94 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, December 14th. Empire State Realty Trust’s dividend payout ratio is 107.70%.

Several equities research analysts recently weighed in on ESRT shares. TheStreet upgraded shares of Empire State Realty Trust from a “c+” rating to a “b” rating in a research note on Tuesday, October 31st. BMO Capital Markets reiterated a “buy” rating and issued a $23.00 target price on shares of Empire State Realty Trust in a research note on Wednesday, November 1st. Zacks Investment Research upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating and set a $23.00 target price for the company in a research note on Monday, October 16th. Evercore ISI upgraded shares of Empire State Realty Trust from an “in” rating to a “line” rating and set a $23.00 target price for the company in a research note on Monday, December 4th. Finally, BidaskClub cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, October 28th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $22.50.

In other Empire State Realty Trust news, Chairman Anthony E. Malkin sold 1,243,163 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $20.45, for a total transaction of $25,422,683.35. Following the completion of the transaction, the chairman now owns 156,416 shares in the company, valued at $3,198,707.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.80% of the stock is owned by company insiders.

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About Empire State Realty Trust

Empire State Realty Trust, Inc is a real estate investment trust. The Company 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 Company operates through two segments: Real Estate and Observatory.

Insider Buying and Selling by Quarter for Empire State Realty Trust (NYSE:ESRT)

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