Empire State Realty Trust, Inc. (NYSE:ESRT) Receives Average Rating of “Hold” from Analysts

Empire State Realty Trust, Inc. (NYSE:ESRTGet Rating) has been assigned an average recommendation of “Hold” from the six ratings firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $10.50.

A number of research firms have issued reports on ESRT. StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, May 7th. Zacks Investment Research upgraded Empire State Realty Trust from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a report on Monday, May 9th. Evercore ISI upgraded Empire State Realty Trust from an “in-line” rating to an “outperform” rating and set a $11.00 target price on the stock in a research note on Monday, May 2nd. Finally, BMO Capital Markets downgraded Empire State Realty Trust from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $11.00 to $8.00 in a research report on Monday, March 7th.

Several large investors have recently added to or reduced their stakes in ESRT. Marshall Wace North America L.P. bought a new stake in shares of Empire State Realty Trust in the 1st quarter valued at about $67,000. FMR LLC raised its stake in Empire State Realty Trust by 4.7% in the first quarter. FMR LLC now owns 1,918,406 shares of the real estate investment trust’s stock valued at $30,311,000 after buying an additional 86,889 shares during the period. Morgan Stanley lifted its position in shares of Empire State Realty Trust by 21.1% in the second quarter. Morgan Stanley now owns 4,468,128 shares of the real estate investment trust’s stock valued at $53,618,000 after buying an additional 779,024 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Empire State Realty Trust by 19.1% in the third quarter. Teacher Retirement System of Texas now owns 23,380 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 3,752 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Empire State Realty Trust by 45.2% during the 3rd quarter. Goldman Sachs Group Inc. now owns 2,777,353 shares of the real estate investment trust’s stock worth $27,857,000 after acquiring an additional 864,116 shares during the period. 77.78% of the stock is owned by institutional investors and hedge funds.

Shares of ESRT stock opened at $7.94 on Friday. Empire State Realty Trust has a 12-month low of $7.44 and a 12-month high of $13.11. The company has a quick ratio of 6.73, a current ratio of 6.73 and a debt-to-equity ratio of 1.39. The firm has a fifty day moving average of $8.67 and a 200-day moving average of $9.12. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -66.17, a P/E/G ratio of 1.27 and a beta of 0.99.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be paid a $0.035 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $0.14 dividend on an annualized basis and a yield of 1.76%. Empire State Realty Trust’s dividend payout ratio is -116.67%.

Empire State Realty Trust Company Profile (Get Rating)

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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