Empire State Realty Trust (NYSE:ESRT) Reaches New 1-Year Low - Here's Why

Key Points

• Empire State Realty Trust shares fell to a new 52-week low of $4.69 during Monday trading, below the prior close of $4.84. The stock has a market capitalization of about $1.33 billion.
• Analyst sentiment is broadly negative: the stock carries an average “Sell” rating, with a consensus price target of $5.50. Wells Fargo and Citigroup recently lowered their price targets to $6.00 and $5.00, respectively.
• The REIT reported a quarterly loss of $0.15 per share on $196.9 million in revenue and maintained annual guidance of $0.750–$0.790 EPS. It also declared a quarterly dividend of $0.035 per share, representing a 3.0% annualized yield, though its payout ratio is 200%.

Empire State Realty Trust, Inc. (NYSE:ESRT - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $4.69 and last traded at $4.7160, with a volume of 168318 shares trading hands. The stock had previously closed at $4.84.

Analyst Ratings Changes

ESRT has been the subject of several recent research reports. Evercore set a $5.50 target price on shares of Empire State Realty Trust in a research note on Thursday, July 30th. Weiss Ratings reiterated a "sell (d)" rating on shares of Empire State Realty Trust in a research note on Friday. Wells Fargo & Company dropped their price objective on Empire State Realty Trust from $6.30 to $6.00 and set an "underweight" rating on the stock in a report on Monday, June 1st. Finally, Citigroup reduced their target price on Empire State Realty Trust from $5.75 to $5.00 and set a "neutral" rating for the company in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Sell" and a consensus target price of $5.50.

Empire State Realty Trust Price Performance

The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 1.22. The business's 50 day moving average price is $5.40 and its two-hundred day moving average price is $5.61. The stock has a market cap of $1.33 billion, a P/E ratio of 67.22 and a beta of 1.36.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported ($0.15) earnings per share (EPS) for the quarter. Empire State Realty Trust had a return on equity of 0.40% and a net margin of 0.93%.The company had revenue of $196.90 million during the quarter. Empire State Realty Trust has set its FY 2026 guidance at 0.750-0.790 EPS. As a group, sell-side analysts expect that Empire State Realty Trust, Inc. will post 0.77 earnings per share for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.14 annualized dividend and a yield of 3.0%. Empire State Realty Trust's dividend payout ratio (DPR) is currently 200.00%.

Institutional Trading of Empire State Realty Trust

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada lifted its position in Empire State Realty Trust by 86.1% during the 1st quarter. Royal Bank of Canada now owns 11,078 shares of the real estate investment trust's stock valued at $58,000 after acquiring an additional 5,124 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of Empire State Realty Trust during the first quarter valued at approximately $60,000. DRW Securities LLC bought a new position in shares of Empire State Realty Trust during the fourth quarter valued at approximately $69,000. Vise Technologies Inc. purchased a new position in shares of Empire State Realty Trust during the fourth quarter valued at approximately $71,000. Finally, Federation des caisses Desjardins du Quebec lifted its holdings in shares of Empire State Realty Trust by 29.1% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 11,180 shares of the real estate investment trust's stock valued at $73,000 after purchasing an additional 2,523 shares during the last quarter. 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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