Empire State Realty Trust (NYSE:ESRT) Upgraded at TheStreet

TheStreet upgraded shares of Empire State Realty Trust (NYSE:ESRTGet Rating) from a d+ rating to a c- rating in a research report report published on Monday, TheStreetRatingsTable reports.

Several other research firms also recently weighed in on ESRT. Evercore ISI set a $10.00 target price on Empire State Realty Trust in a research report on Monday, June 20th. Wells Fargo & Company lowered their price objective on Empire State Realty Trust from $8.00 to $5.50 and set an underweight rating for the company in a research report on Friday, July 1st. BMO Capital Markets raised Empire State Realty Trust from an underperform rating to a market perform rating and boosted their price objective for the stock from $7.50 to $8.00 in a research report on Thursday, July 14th. Wolfe Research downgraded Empire State Realty Trust from an outperform rating to a peer perform rating in a research report on Monday. Finally, StockNews.com raised Empire State Realty Trust from a sell rating to a hold rating in a research report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Empire State Realty Trust has an average rating of Hold and a consensus target price of $7.88.

Empire State Realty Trust Stock Performance

NYSE ESRT opened at $7.86 on Monday. The company has a market cap 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 current ratio of 6.73 and a quick ratio of 6.73. The stock has a 50-day moving average of $7.46 and a two-hundred day moving average of $8.50. Empire State Realty Trust has a 1-year low of $6.53 and a 1-year high of $11.11.

Empire State Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Tuesday, June 14th. Empire State Realty Trust’s dividend payout ratio (DPR) is 280.00%.

Institutional Investors Weigh In On Empire State Realty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Schroder Investment Management Group lifted its stake in Empire State Realty Trust by 9.9% in the fourth quarter. Schroder Investment Management Group now owns 30,150 shares of the real estate investment trust’s stock valued at $268,000 after buying an additional 2,719 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Empire State Realty Trust by 21.5% in the fourth quarter. Teacher Retirement System of Texas now owns 28,402 shares of the real estate investment trust’s stock valued at $253,000 after buying an additional 5,022 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Empire State Realty Trust by 7.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 232,216 shares of the real estate investment trust’s stock worth $2,071,000 after purchasing an additional 15,470 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Empire State Realty Trust during the fourth quarter worth approximately $1,204,000. Finally, Bridgefront Capital LLC raised its stake in shares of Empire State Realty Trust by 16.6% during the fourth quarter. Bridgefront Capital LLC now owns 21,113 shares of the real estate investment trust’s stock worth $188,000 after purchasing an additional 3,010 shares during the last quarter. Hedge funds and other institutional investors own 77.78% of the company’s stock.

About Empire State Realty Trust

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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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