Empire State Realty Trust, Inc. (NYSE:ESRT - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $8.19, but opened at $7.96. Empire State Realty Trust shares last traded at $7.97, with a volume of 927,421 shares traded.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the company. Wolfe Research raised Empire State Realty Trust from a "peer perform" rating to an "outperform" rating and set a $10.00 price objective on the stock in a research note on Tuesday, March 25th. Wall Street Zen cut shares of Empire State Realty Trust from a "hold" rating to a "sell" rating in a research report on Monday, May 19th. Citigroup reiterated a "neutral" rating on shares of Empire State Realty Trust in a research note on Friday, April 11th. Finally, Wells Fargo & Company cut their target price on shares of Empire State Realty Trust from $11.00 to $8.30 and set an "underweight" rating on the stock in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $10.43.
View Our Latest Analysis on ESRT
Empire State Realty Trust Trading Down 4.2%
The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 26.25 and a beta of 1.67. The business has a 50 day moving average price of $7.73 and a 200-day moving average price of $8.60. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 1.15.
Empire State Realty Trust (NYSE:ESRT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.19 EPS for the quarter. The business had revenue of $154.54 million for the quarter. Empire State Realty Trust had a net margin of 6.92% and a return on equity of 3.00%. As a group, research analysts expect that Empire State Realty Trust, Inc. will post 0.88 EPS for the current fiscal year.
Empire State Realty Trust Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.14 annualized dividend and a yield of 1.78%. Empire State Realty Trust's dividend payout ratio is presently 46.67%.
Hedge Funds Weigh In On Empire State Realty Trust
Several institutional investors and hedge funds have recently made changes to their positions in ESRT. GF Fund Management CO. LTD. acquired a new position in Empire State Realty Trust during the 4th quarter worth $26,000. Sterling Capital Management LLC grew its stake in Empire State Realty Trust by 819.7% in the fourth quarter. Sterling Capital Management LLC now owns 4,295 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 3,828 shares in the last quarter. Quantbot Technologies LP bought a new stake in Empire State Realty Trust in the first quarter valued at about $37,000. State of Wyoming bought a new stake in Empire State Realty Trust in the fourth quarter valued at about $54,000. Finally, US Bancorp DE raised its stake in Empire State Realty Trust by 22.4% during the first quarter. US Bancorp DE now owns 9,973 shares of the real estate investment trust's stock valued at $78,000 after buying an additional 1,824 shares in the last quarter. 67.10% of the stock is currently owned by hedge funds and other institutional investors.
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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