Empire State Realty Trust Inc (NASDAQ: ESRT) Profit Outlook

Empire State Realty Trust Inc day trading at USD 6.79 per share, then rallying to 7.03 and closing at USD 7 per share. A net gain of 3.92% for the day. Long term pricing analysis shows the stock trading at 55.95% lower than it’s 52week high and -3.86% higher than the 52week low. The share volume traded for the day was 2,924K which was 1 times the 50 Day Average Volume.

Empire State Realty Trust Inc had a market cap of 2,072,067K as of 22nd June 2020. The Earnings Per Share (EPS) for Q4 2019 is $0.24.

If King Kong were around, he’d be an executive at Empire State Realty Trust. The self-administered and self-managed real estate investment trust (REIT) formed in mid-2011 to take over a portfolio of high-profile Manhattan properties from its previous owners, the Malkin family.

Financial Results

Empire State Realty Trust Inc Reports First Quarter Of Fiscal 2020.

  • Net income attributable to the Company was $0.02 per fully diluted share.
  • Core Funds From Operations (“Core FFO”) was $0.18 per fully diluted share.
  • Fortified its already strong balance sheet with the completion of several financings that raised $300 million in net incremental proceeds.
  • Increased its cash balance to over $1 billion with a $550 million drawn under its $1.1 billion unsecured revolving credit facility.
  • Repurchased 8.5 million shares at a weighted average price of $9.37 per share, totaling $79.8 million in aggregate, through April 22, 2020.
  • Occupancy and leased percentages at March 31, 2020:
  • The total portfolio was 88.7% occupied; including Signed Leases Not Commenced (“SLNC”), the total portfolio was 91.1% leased.
  • Manhattan office portfolio (excluding the retail component of these properties) was 90.0% occupied; including SLNC, the Manhattan office portfolio was 92.6% leased.
  • The retail portfolio was 88.5% occupied; including SLNC, the retail portfolio was 94.0% leased.
  • Empire State Building was 93.7% occupied; including SLNC, which was 95.4% leased.
  • Signed 35 leases, representing 149,143 rentable square feet across the total portfolio, and achieved a 3.4% increase in mark-to-market cash rent over previous fully escalated cash rents portfolio-wide on new, renewal, and expansion leases.
  • Signed 12 new leases, representing 63,153 rentable square feet for the Manhattan office portfolio (excluding the retail component of these properties), and achieved an increase of 19.4% in mark-to-market cash rent over previous fully escalated cash rents.
  • Increased Empire State Building Observatory revenues during the first two months of 2020 by 13.2%, after adjusting for the 102nd floor observation deck, to $14.4 million from $12.7 million in the first two months of 2019. On March 16, 2020, the Company complied with the instructions of authorities and closed the Empire State Building Observatory.
  • Declared a dividend of $0.105 per share.

Empire State Realty Trust Inc (22nd June 2020): The Institutional Ownership as of today stood at 81.23% and the Total Value of Holdings (millions) is $ 971.

New Institutional Holders and other activity – As of today, the total number of shares held is, 141,708,572 by 234 institutional holders.

LATEST NEWS:

22-June-2020:- M&T Bank Corp Invests $142,000 in Empire State Realty Trust Inc (NYSE: ESRT)

M&T Bank Corp acquired a new position in shares of Empire State Realty Trust Inc (NYSE: ESRT) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 15,866 shares of the real estate investment trust’s stock, valued at approximately $142,000.

17-June-2020:- Permanent Link to Empire State Realty Trust Inc Declares Quarterly Dividend of $0.11 (NYSE: ESRT)

Empire State Realty Trust Inc (NYSE: ESRT) announced a quarterly dividend on Tuesday, June 9th, Zacks reports. Shareholders of record on Friday, June 19th will be given a dividend of 0.105 per share by the real estate investment trust on Tuesday, June 30th. This represents a $0.42 annualized dividend and a yield of 5.59%.

16-June-2020:- Treasurer of the State of North Carolina Boosts Holdings in Empire State Realty Trust Inc (NYSE: ESRT)

Treasurer of the State of North Carolina boosted its position in shares of Empire State Realty Trust Inc (NYSE: ESRT) by 71.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,749 shares of the real estate investment trust’s stock after acquiring an additional 25,660 shares during the period.

 

Leave a Reply

Your email address will not be published. Required fields are marked *