Analysts Set Empire State Realty Trust, Inc. (NYSE:ESRT) Price Target at $9.25

Shares of Empire State Realty Trust, Inc. (NYSE:ESRT) have earned an average rating of “Hold” from the four ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $9.25.

Several analysts have weighed in on the stock. StockNews.com raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. BMO Capital Markets upped their price objective on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, July 19th.

Hedge Funds Weigh In On Empire State Realty Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Empire State Realty Trust by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 848,486 shares of the real estate investment trust’s stock worth $7,959,000 after buying an additional 37,370 shares in the last quarter. Capital Investment Counsel Inc bought a new position in Empire State Realty Trust in the second quarter worth about $186,000. Assenagon Asset Management S.A. raised its stake in Empire State Realty Trust by 9.3% in the second quarter. Assenagon Asset Management S.A. now owns 36,763 shares of the real estate investment trust’s stock worth $345,000 after buying an additional 3,120 shares in the last quarter. Vanderbilt University raised its stake in Empire State Realty Trust by 70.1% in the second quarter. Vanderbilt University now owns 26,156 shares of the real estate investment trust’s stock worth $245,000 after buying an additional 10,779 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Empire State Realty Trust by 63.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 63,450 shares of the real estate investment trust’s stock worth $603,000 after buying an additional 24,580 shares in the last quarter. 67.10% of the stock is owned by institutional investors.

Empire State Realty Trust Stock Performance

Empire State Realty Trust stock opened at $10.54 on Friday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $1.74 billion, a PE ratio of 35.13, a P/E/G ratio of 6.79 and a beta of 1.40. The firm has a fifty day simple moving average of $9.55 and a two-hundred day simple moving average of $9.65. Empire State Realty Trust has a twelve month low of $7.25 and a twelve month high of $11.20.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.14). The business had revenue of $189.54 million during the quarter. Empire State Realty Trust had a return on equity of 2.85% and a net margin of 6.51%. During the same period in the previous year, the company earned $0.26 earnings per share. Research analysts expect that Empire State Realty Trust will post 0.93 EPS for the current year.

Empire State Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Friday, June 14th. Empire State Realty Trust’s dividend payout ratio (DPR) is 46.67%.

Empire State Realty Trust Company Profile

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.