Empire State Realty Trust (NYSE:ESRT) Given New $5.75 Price Target at Citigroup

Key Points

• Citigroup cut its price target on Empire State Realty Trust from $7.00 to $5.75 and maintained a "neutral" rating, implying roughly a 5.39% upside from the current share price.
• The street consensus is a Sell rating with an average target of $6.35 after downgrades and price-target cuts from firms including Weiss Ratings and Wells Fargo.
• Shares traded around $5.46 (up ~2.2%), with a market cap near $934M and a P/E of ~20.98; management set FY2026 guidance at 0.85–0.89 EPS, in line with analyst forecasts of 0.88.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) had its price target decreased by investment analysts at Citigroup from $7.00 to $5.75 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the real estate investment trust's stock. Citigroup's target price would indicate a potential upside of 5.39% from the stock's current price.

A number of other research firms have also weighed in on ESRT. Evercore set a $7.00 price objective on Empire State Realty Trust in a research note on Wednesday, February 18th. Weiss Ratings lowered Empire State Realty Trust from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, March 4th. Finally, Wells Fargo & Company dropped their price target on Empire State Realty Trust from $6.80 to $6.30 and set an "underweight" rating for the company in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Sell" and an average target price of $6.35.

Empire State Realty Trust Trading Up 2.2%

Empire State Realty Trust stock traded up $0.12 during mid-day trading on Wednesday, hitting $5.46. The company's stock had a trading volume of 1,435,994 shares, compared to its average volume of 1,632,902. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.67 and a quick ratio of 1.67. The stock has a market cap of $934.29 million, a price-to-earnings ratio of 20.98 and a beta of 1.38. The business has a 50 day moving average price of $5.63 and a 200-day moving average price of $6.50. Empire State Realty Trust has a 12 month low of $4.87 and a 12 month high of $8.76.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The real estate investment trust reported $0.12 earnings per share for the quarter. The business had revenue of $199.22 million during the quarter. Empire State Realty Trust had a net margin of 6.06% and a return on equity of 2.59%. Empire State Realty Trust has set its FY 2026 guidance at 0.850-0.890 EPS. As a group, analysts forecast that Empire State Realty Trust will post 0.88 EPS for the current year.

Hedge Funds Weigh In On Empire State Realty Trust

A number of institutional investors have recently added to or reduced their stakes in ESRT. Aster Capital Management DIFC Ltd bought a new stake in Empire State Realty Trust in the 3rd quarter worth about $29,000. DRW Securities LLC purchased a new position in Empire State Realty Trust in the fourth quarter worth about $69,000. Vise Technologies Inc. purchased a new position in Empire State Realty Trust in the fourth quarter worth about $71,000. Federation des caisses Desjardins du Quebec boosted its position in Empire State Realty Trust by 29.1% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 11,180 shares of the real estate investment trust's stock worth $73,000 after purchasing an additional 2,523 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Empire State Realty Trust in the second quarter worth about $74,000. Institutional investors own 67.10% of the company's stock.

About Empire State Realty Trust

Empire State Realty Trust, Inc is a publicly traded real estate investment trust (REIT) focused on the ownership, management and operation of office and retail properties. The company's portfolio features the iconic Empire State Building in Midtown Manhattan, alongside a diversified collection of commercial assets situated throughout Manhattan, Brooklyn and select markets in Upstate New York. By offering premium office space and street-level retail, Empire State Realty Trust positions itself as a landlord of choice for corporate tenants, retailers and experiential brands seeking high-profile addresses.

Established through a spin-off of assets in early 2013, Empire State Realty Trust consolidated a mix of landmark and Class A properties, creating scale in one of the world's most competitive real estate markets.

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