Shares of Empire State Realty Trust, Inc. (NYSE:ESRT – Get Rating) have been assigned an average rating of "Hold" from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $7.88.
Several research firms have recently weighed in on ESRT. StockNews.com upgraded shares of Empire State Realty Trust from a "sell" rating to a "hold" rating in a research report on Friday, July 29th. Wolfe Research lowered Empire State Realty Trust from an "outperform" rating to a "peer perform" rating in a research report on Monday, August 1st. BMO Capital Markets upgraded Empire State Realty Trust from an "underperform" rating to a "market perform" rating and raised their price target for the stock from $7.50 to $8.00 in a research report on Thursday, July 14th. Wells Fargo & Company reduced their price target on Empire State Realty Trust from $8.00 to $5.50 and set an "underweight" rating on the stock in a research report on Friday, July 1st. Finally, Evercore ISI set a $10.00 price target on Empire State Realty Trust in a research report on Monday, June 20th.
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Empire State Realty Trust Stock Performance
Empire State Realty Trust stock opened at $7.44 on Friday. The firm's fifty day moving average price is $7.52 and its 200-day moving average price is $8.35. The company has a debt-to-equity ratio of 1.37, a quick ratio of 6.06 and a current ratio of 6.06. The stock has a market cap of $1.25 billion, a P/E ratio of 148.80, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08. Empire State Realty Trust has a fifty-two week low of $6.53 and a fifty-two week high of $11.07.
Empire State Realty Trust Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.88%. The ex-dividend date is Wednesday, September 14th. Empire State Realty Trust's dividend payout ratio (DPR) is currently 280.00%.
Institutional Investors Weigh In On Empire State Realty Trust
Several institutional investors and hedge funds have recently bought and sold shares of ESRT. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of 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 valued at $26,000 after purchasing an additional 2,025 shares during the period. Captrust Financial Advisors purchased a new position in shares of Empire State Realty Trust in the 2nd quarter valued at approximately $59,000. Fox Run Management L.L.C. purchased a new position in shares of Empire State Realty Trust in the 2nd quarter valued at approximately $75,000. Mackenzie Financial Corp purchased a new position in shares of Empire State Realty Trust in the 2nd quarter valued at approximately $77,000. Finally, US Bancorp DE lifted its stake in shares of Empire State Realty Trust by 21.9% in the 2nd quarter. US Bancorp DE now owns 11,267 shares of the real estate investment trust's stock valued at $79,000 after purchasing an additional 2,024 shares during the period. Hedge funds and other institutional investors own 77.78% of the company's stock.
Empire State Realty Trust Company Profile
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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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