Empire State Realty Trust (NYSE:ESRT) Upgraded to “Outperform” at Evercore ISI

Evercore ISI upgraded shares of Empire State Realty Trust (NYSE:ESRT – Get Rating) from an in-line rating to an outperform rating in a report issued on Tuesday morning, Briefing.com reports. Evercore ISI currently has $8.00 price target on the real estate investment trust’s stock, up from their prior price target of $7.00.

A number of other analysts have also issued reports on the stock. BMO Capital Markets upgraded shares of Empire State Realty Trust from a market perform rating to an outperform rating and set a $9.00 target price on the stock in a research report on Friday, March 3rd. Citigroup boosted their price target on Empire State Realty Trust from $7.25 to $7.50 and gave the company a neutral rating in a research report on Wednesday, March 1st. Bank of America raised Empire State Realty Trust from a neutral rating to a buy rating and set a $9.25 price objective on the stock in a research note on Wednesday, March 1st. StockNews.com began coverage on shares of Empire State Realty Trust in a report on Thursday, May 18th. They issued a hold rating on the stock. Finally, TheStreet downgraded shares of Empire State Realty Trust from a c rating to a d+ rating in a research note on Monday, April 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Empire State Realty Trust has a consensus rating of Hold and an average price target of $7.95.

Empire State Realty Trust Stock Up 11.1 %

Empire State Realty Trust stock opened at $6.53 on Tuesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 8.99 and a current ratio of 8.99. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 2.46 and a beta of 1.19. The stock’s fifty day moving average is $6.07 and its two-hundred day moving average is $6.94. Empire State Realty Trust has a fifty-two week low of $5.39 and a fifty-two week high of $8.68.

Empire State Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, June 14th. Empire State Realty Trust’s payout ratio is 42.42%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Empire State Realty Trust in the 4th quarter worth approximately $9,268,000. Balyasny Asset Management LLC boosted its stake in Empire State Realty Trust by 711.3% during the 3rd quarter. Balyasny Asset Management LLC now owns 1,416,134 shares of the real estate investment trust’s stock valued at $9,290,000 after purchasing an additional 1,241,584 shares during the period. State Street Corp boosted its stake in Empire State Realty Trust by 15.5% during the 1st quarter. State Street Corp now owns 7,256,222 shares of the real estate investment trust’s stock valued at $71,256,000 after purchasing an additional 974,740 shares during the period. Credit Suisse AG increased its position in Empire State Realty Trust by 7.3% in the 4th quarter. Credit Suisse AG now owns 10,256,566 shares of the real estate investment trust’s stock valued at $69,129,000 after acquiring an additional 697,821 shares during the period. Finally, Foundry Partners LLC acquired a new stake in Empire State Realty Trust in the 1st quarter valued at approximately $4,200,000. Institutional investors and hedge funds own 76.81% of the company’s stock.

About Empire State Realty Trust

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Empire State Realty Trust, Inc is a real estate investment trust, which engages in owning, managing, acquiring, and repositioning office and retail properties. It operates through the Real Estate and Observatory segments. The Real Estate segment includes ownership, management, operation, acquisition, repositioning, and disposition of real estate assets.