Empire State Realty Trust, Inc. (NYSE:ESRT) Receives $7.88 Average Target Price from Analysts

Shares of Empire State Realty Trust, Inc. (NYSE:ESRTGet Rating) have been given an average recommendation of “Hold” by the seven ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $7.88.

Several analysts have commented on the stock. StockNews.com upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, July 29th. Wells Fargo & Company lowered their target price on shares of Empire State Realty Trust from $8.00 to $5.50 and set an “underweight” rating on the stock in a research note on Friday, July 1st. Evercore ISI set a $10.00 price target on shares of Empire State Realty Trust in a research report on Monday, June 20th. Wolfe Research cut shares of Empire State Realty Trust from an “outperform” rating to a “peer perform” rating in a research report on Monday. Finally, BMO Capital Markets raised shares of Empire State Realty Trust from an “underperform” rating to a “market perform” rating and upped their target price for the company from $7.50 to $8.00 in a research report on Thursday, July 14th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Empire State Realty Trust by 230.6% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,903 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 2,025 shares during the last quarter. US Bancorp DE increased its holdings in Empire State Realty Trust by 21.9% during the 2nd quarter. US Bancorp DE now owns 11,267 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 2,024 shares during the last quarter. Carson Advisory Inc. bought a new stake in shares of Empire State Realty Trust in the 4th quarter valued at approximately $93,000. GSA Capital Partners LLP bought a new stake in shares of Empire State Realty Trust in the 4th quarter valued at approximately $94,000. Finally, Van ECK Associates Corp increased its holdings in shares of Empire State Realty Trust by 66.9% in the 4th quarter. Van ECK Associates Corp now owns 11,130 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 4,462 shares during the last quarter. Hedge funds and other institutional investors own 77.78% of the company’s stock.

Empire State Realty Trust Stock Down 2.8 %

NYSE:ESRT opened at $7.86 on Monday. The company’s 50-day simple moving average is $7.46 and its 200-day simple moving average is $8.50. The stock has a market capitalization of $1.32 billion, a P/E ratio of 157.20, a P/E/G ratio of 1.25 and a beta of 1.08. The company has a debt-to-equity ratio of 1.39, a quick ratio of 6.73 and a current ratio of 6.73. Empire State Realty Trust has a fifty-two week low of $6.53 and a fifty-two week high of $11.11.

Empire State Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.78%. The ex-dividend date was Tuesday, June 14th. Empire State Realty Trust’s payout ratio is 280.00%.

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.

See Also

Analyst Recommendations for Empire State Realty Trust (NYSE:ESRT)

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