Empire State Realty Trust, Inc. (NYSE:ESRT) Receives $8.65 Average Price Target from Analysts

Shares of Empire State Realty Trust, Inc. (NYSE:ESRTGet Free Report) have been assigned an average rating of “Hold” from the five analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $8.65.

A number of research firms recently commented on ESRT. StockNews.com raised Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. Evercore ISI downgraded shares of Empire State Realty Trust from an “outperform” rating to an “in-line” rating and set a $9.00 price target for the company. in a report on Monday, November 27th.

Read Our Latest Stock Analysis on ESRT

Institutional Investors Weigh In On Empire State Realty Trust

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new position in Empire State Realty Trust in the fourth quarter valued at approximately $34,000. Osaic Holdings Inc. grew its stake in shares of Empire State Realty Trust by 37.6% in the 2nd quarter. Osaic Holdings Inc. now owns 6,091 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 1,666 shares during the period. Ensign Peak Advisors Inc acquired a new stake in shares of Empire State Realty Trust in the 3rd quarter valued at about $44,000. Federated Hermes Inc. bought a new stake in Empire State Realty Trust in the 3rd quarter valued at about $59,000. Finally, Captrust Financial Advisors acquired a new position in Empire State Realty Trust during the 2nd quarter worth approximately $59,000. Institutional investors and hedge funds own 80.44% of the company’s stock.

Empire State Realty Trust Trading Down 1.5 %

Shares of ESRT stock opened at $9.45 on Friday. The stock has a market cap of $1.54 billion, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 5.27 and a beta of 1.30. The company has a current ratio of 8.56, a quick ratio of 8.56 and a debt-to-equity ratio of 1.29. The stock has a 50 day simple moving average of $9.70 and a 200 day simple moving average of $8.82. Empire State Realty Trust has a 1 year low of $5.39 and a 1 year high of $10.32.

Empire State Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were issued a $0.035 dividend. The ex-dividend date of this dividend was Friday, December 15th. This represents a $0.14 dividend on an annualized basis and a yield of 1.48%. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 42.43%.

About Empire State Realty Trust

(Get Free Report

Empire State Realty Trust, Inc (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. The company is the recognized leader in energy efficiency and indoor environmental quality. ESRT's flagship Empire State Building – the "World's Most Famous Building" – includes its Observatory, Tripadvisor's 2023 Travelers' Choice Awards: Best of the Best the #1 attraction in the US for two consecutive years.

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

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