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Thomas P. Durels, Executive Vice President of Real Estate at Empire State Realty Trust, Inc. (NYSE:ESRT), recently sold a total of 25,000 shares of the company’s Class A common stock over two consecutive days. The sales, executed for financial planning purposes, were conducted during an open trading window and in accordance with Rule 144 under the Securities Act of 1933. The $2.2 billion market cap REIT maintains strong liquidity with a current ratio of 3.7x, according to InvestingPro data.
On March 19, Durels sold 12,500 shares at an average price of $8.11 per share, totaling approximately $101,375. The following day, March 20, he sold another 12,500 shares at an average price of $8.15 per share, amounting to roughly $101,875. These transactions collectively brought in $203,250. The stock, which currently trades near its 52-week low of $7.88, has declined about 20% year-to-date, with analysts setting price targets between $9.50 and $13.00.
Following these sales, Durels retains ownership of 61,807 shares of Empire State Realty Trust. The transactions represent less than 1% of his total beneficial ownership in the company on a fully diluted basis. For comprehensive insider trading analysis and additional insights, including 12 more exclusive tips about ESRT, visit InvestingPro.
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