ESRT dividend yield – ESRT Maintains Quarterly Dividend at $0.035 a Share, Payable June 30 to Shareholders as of June 15
May 19, 2023
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Empire State Realty ($NYSE:ESRT) Trust (ESRT) is a publicly traded real estate investment trust that owns, manages, and operates commercial and residential properties in the heart of New York City. The company recently announced that its quarterly dividend of $0.035 per share will remain unchanged and be payable on June 30 to shareholders of record as of June 15. This is a welcome sign of stability given the current market conditions. The dividend payment is an attractive sign for shareholders since it provides a steady stream of income and the potential for capital appreciation.
As economies around the world are slowly recovering from the ravages of the pandemic, ESRT is one of the few stocks that still provides a steady stream of income to its shareholders. The dividend will be paid out on June 30th and will not be affected by any changes in the stock price. This is a great sign for ESRT shareholders as it shows the company’s commitment to providing a consistent stream of income to its shareholders.
Dividends – ESRT dividend yield
This is the third consecutive year that ESRT has issued an annual dividend per share, with the last three payments being 0.14, 0.14, and 0.1 USD respectively. These figures have resulted in dividend yields from 2021 to 2023 of 1.82%, 1.73%, and 1.0% respectively, giving an average dividend yield of 1.52%.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for ESRT. More…
| Total Revenues | Net Income | Net Margin |
| 727.63 | 54.26 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for ESRT. More…
| Operations | Investing | Financing |
| 211.17 | -230.89 | -140.24 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for ESRT. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.16k | 2.48k | 10.37 |
Key Ratios Snapshot
Some of the financial key ratios for ESRT are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 19.0% |
| FCF Margin | ROE | ROA |
| – | – | – |
Stock Price
The stock opened at $5.7 and closed at the same price, down 0.4% from its prior closing price. This marks the second consecutive quarter that ESRT has maintained its dividend payments, providing stability and a reliable return to its shareholders. The company’s Board of Trustees believes that continuing to pay a dividend is an important part of their commitment to provide strong returns to their investors. Live Quote…
Analysis – ESRT Intrinsic Value
At GoodWhale, we have conducted an analysis of EMPIRE STATE REALTY TRUST’s financials. Our proprietary Valuation Line has determined that the fair value of EMPIRE STATE REALTY TRUST share is around $7.3. Currently, EMPIRE STATE REALTY TRUST stock is traded at $5.7, which is undervalued by 21.8%. We believe this presents a good opportunity for investors to enter the market and take advantage of the current undervalued price. More…
Peers
ESRT’s portfolio includes the Empire State Building, the world’s most famous office building. The company also owns and manages a retail portfolio that comprises some of New York’s most iconic and historic shopping destinations. ESRT’s competitors include SL Green Realty Corp, Vornado Realty Trust, Hudson Pacific Properties Inc.
– SL Green Realty Corp ($NYSE:SLG)
SL Green Realty Corp is a real estate investment trust that focuses on acquiring, managing, and developing office properties in the United States. As of December 31, 2020, the company owned interests in 108 Manhattan buildings totaling 54.4 million square feet.
– Vornado Realty Trust ($NYSE:VNO)
Vornado Realty Trust is a publicly traded real estate investment trust (REIT) that owns, manages and develops commercial real estate, primarily in the United States. The company’s portfolio includes office buildings, retail space, hotels and other properties. Vornado’s market capitalization is $4.44 billion as of 2022. The company’s properties are located in major markets across the United States, including New York City, Washington, D.C., Chicago and San Francisco.
– Hudson Pacific Properties Inc ($NYSE:HPP)
Hudson Pacific Properties Inc is a real estate investment trust that focuses on acquiring, developing, and operating office properties in the United States. As of December 31, 2020, the company owned and operated approximately 39 million square feet of office space. Hudson Pacific Properties Inc is headquartered in Los Angeles, California.
Summary
Empire State Realty Trust (ESRT) is a real estate investment trust (REIT) located in the United States. The trust owns, operates, and manages a portfolio of iconic real estate properties in New York City, including the Empire State Building. The trust recently announced the continuation of its quarterly dividend of $0.035 per share, to be paid out on June 30 to shareholders of record as of June 15. Investors looking for a safe and consistent income stream should consider ESRT’s diversified portfolio of high-quality assets, strong financial performance, and attractive dividend payout.
The trust has shown strength in its rental income streams and has delivered consistent returns for investors over the past five years. Overall, ESRT remains a strong long-term investment option that offers stability and growth potential.
