$142.12 Million in Sales Expected for Empire State Realty Trust Inc (NYSE:ESRT) This Quarter

Equities research analysts expect that Empire State Realty Trust Inc (NYSE:ESRT) will announce $142.12 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Empire State Realty Trust’s earnings, with the lowest sales estimate coming in at $139.58 million and the highest estimate coming in at $144.66 million. Empire State Realty Trust reported sales of $141.07 million in the same quarter last year, which indicates a positive year-over-year growth rate of 0.7%. The company is expected to issue its next earnings results on Wednesday, July 22nd.

On average, analysts expect that Empire State Realty Trust will report full year sales of $576.26 million for the current fiscal year, with estimates ranging from $575.83 million to $576.69 million. For the next year, analysts forecast that the company will report sales of $580.41 million, with estimates ranging from $579.56 million to $581.25 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Empire State Realty Trust.

Empire State Realty Trust (NYSE:ESRT) last released its earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.15). Empire State Realty Trust had a return on equity of 3.04% and a net margin of 7.96%. The business had revenue of $148.11 million for the quarter, compared to analyst estimates of $129.66 million. During the same period in the prior year, the firm posted $0.19 EPS. Empire State Realty Trust’s revenue was up 3.3% on a year-over-year basis.

A number of analysts have commented on the stock. BMO Capital Markets lowered shares of Empire State Realty Trust from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $14.00 to $9.00 in a report on Thursday, March 12th. ValuEngine raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Stifel Nicolaus lowered their target price on shares of Empire State Realty Trust from $14.00 to $10.00 and set a “hold” rating for the company in a report on Wednesday, March 18th. Citigroup cut shares of Empire State Realty Trust from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $15.00 to $7.50 in a research report on Tuesday, April 7th. Finally, Zacks Investment Research cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Thursday, June 25th. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $11.50.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its stake in Empire State Realty Trust by 359.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,871 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 1,464 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Empire State Realty Trust in the 4th quarter valued at $62,000. Marshall Wace North America L.P. acquired a new stake in Empire State Realty Trust in the 1st quarter valued at $67,000. Comerica Bank acquired a new stake in Empire State Realty Trust in the 1st quarter valued at $78,000. Finally, Jane Street Group LLC acquired a new stake in Empire State Realty Trust in the 1st quarter valued at $91,000. 79.68% of the stock is currently owned by institutional investors and hedge funds.

ESRT traded up $0.36 during trading on Thursday, reaching $6.88. 2,403,400 shares of the company’s stock were exchanged, compared to its average volume of 2,433,548. The company’s fifty day moving average price is $7.16 and its 200-day moving average price is $10.45. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.88 and a current ratio of 1.88. Empire State Realty Trust has a fifty-two week low of $6.26 and a fifty-two week high of $15.36. The firm has a market capitalization of $1.14 billion, a PE ratio of 28.67, a P/E/G ratio of 8.17 and a beta of 0.75.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 19th will be given a $0.105 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.42 annualized dividend and a yield of 6.10%. Empire State Realty Trust’s dividend payout ratio is currently 46.67%.

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 and Estimates for Empire State Realty Trust (NYSE:ESRT)

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