Empire State Realty Trust (NYSE:ESRT) Upgraded to "Hold" at Wall Street Zen

Key Points

• Empire State Realty Trust has been upgraded from a "sell" rating to a "hold" rating by analysts at Wall Street Zen, indicating a shift in outlook for the stock.
• Wells Fargo has lowered its price target for Empire State Realty Trust from $11.00 to $8.30, while the stock currently has a consensus price target of $10.43.
• The company's shares rose by 4.9% with a current market capitalization of $1.30 billion, reflecting its significant stake in the NYC real estate market.

Wall Street Zen upgraded shares of Empire State Realty Trust (NYSE:ESRT - Free Report) from a sell rating to a hold rating in a research note released on Saturday morning.

Separately, Wells Fargo & Company cut their price target on 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 analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Empire State Realty Trust presently has a consensus rating of "Hold" and a consensus target price of $10.43.

Empire State Realty Trust Stock Up 1.3%

Empire State Realty Trust stock traded up $0.10 during trading on Friday, reaching $7.56. The stock had a trading volume of 498,282 shares, compared to its average volume of 1,563,436. The stock has a market cap of $1.28 billion, a PE ratio of 31.49 and a beta of 1.70. The business has a 50 day moving average price of $7.75 and a 200 day moving average price of $7.87. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 1.15. Empire State Realty Trust has a 52-week low of $6.56 and a 52-week high of $11.62.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.22 earnings per share for the quarter. Empire State Realty Trust had a return on equity of 2.45% and a net margin of 5.67%.The company had revenue of $153.54 million for the quarter. Empire State Realty Trust has set its FY 2025 guidance at 0.830-0.860 EPS. On average, analysts predict that Empire State Realty Trust will post 0.88 EPS for the current year.

Empire State Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.9%. Empire State Realty Trust's dividend payout ratio (DPR) is currently 58.33%.

Hedge Funds Weigh In On Empire State Realty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in ESRT. GF Fund Management CO. LTD. purchased a new stake in Empire State Realty Trust in the 4th quarter valued at approximately $26,000. Quantbot Technologies LP purchased a new stake in Empire State Realty Trust in the 1st quarter valued at approximately $37,000. State of Wyoming purchased a new stake in Empire State Realty Trust in the 4th quarter valued at approximately $54,000. CWM LLC boosted its holdings in Empire State Realty Trust by 1,704.7% in the 2nd quarter. CWM LLC now owns 8,121 shares of the real estate investment trust's stock valued at $66,000 after purchasing an additional 7,671 shares in the last quarter. Finally, Simplex Trading LLC lifted its position in shares of Empire State Realty Trust by 869.5% during the 2nd quarter. Simplex Trading LLC now owns 8,260 shares of the real estate investment trust's stock valued at $66,000 after acquiring an additional 7,408 shares during the period. Hedge funds and other institutional investors own 67.10% of the company's stock.

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.