Empire State Realty Trust (NYSE:ESRT) Hits New 12-Month Low - What's Next?

Key Points

• Empire State Realty Trust shares fell to a new 52-week low of $4.36, below both the 50-day and 200-day moving averages. The stock has a market capitalization of approximately $761 million.
• Analyst sentiment is bearish: Citigroup and Wells Fargo lowered their price targets to $5.00, while the consensus rating is “Sell” with an average target of $5.17.
• The REIT reported a quarterly loss of $0.15 per share and maintains a $0.035 quarterly dividend, or a 3.2% yield. Its 200% payout ratio highlights potential dividend sustainability concerns despite institutional investors owning 67.1% of shares.

Empire State Realty Trust, Inc. (NYSE:ESRT - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $4.36 and last traded at $4.3950, with a volume of 2694137 shares trading hands. The stock had previously closed at $4.39.

Analyst Ratings Changes

Several brokerages recently commented on ESRT. Citigroup cut their price target on shares of 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. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Empire State Realty Trust in a report on Friday, August 7th. Evercore set a $5.50 target price on shares of Empire State Realty Trust in a research note on Thursday, July 30th. Wells Fargo & Company reduced their price target on shares of Empire State Realty Trust from $6.00 to $5.00 and set an "underweight" rating for the company in a research report on Tuesday. Finally, Wall Street Zen downgraded shares of Empire State Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, August 22nd. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Sell" and a consensus price target of $5.17.

Empire State Realty Trust Trading Up 0.1%

The company has a 50 day moving average of $5.15 and a 200 day moving average of $5.37. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market capitalization of $760.91 million, a price-to-earnings ratio of 62.79 and a beta of 1.36.

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

Empire State Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Empire State Realty Trust's dividend payout ratio is currently 200.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. boosted its stake in Empire State Realty Trust by 10.7% during the third quarter. Ameriprise Financial Inc. now owns 11,934,145 shares of the real estate investment trust's stock worth $91,318,000 after buying an additional 1,153,446 shares during the last quarter. Cohen & Steers Inc. boosted its position in shares of Empire State Realty Trust by 456.9% during the 4th quarter. Cohen & Steers Inc. now owns 11,128,303 shares of the real estate investment trust's stock valued at $72,557,000 after acquiring an additional 9,129,959 shares during the last quarter. Lasalle Investment Management Securities LLC boosted its position in shares of Empire State Realty Trust by 64.0% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 9,058,860 shares of the real estate investment trust's stock valued at $47,106,000 after acquiring an additional 3,534,376 shares during the last quarter. Resolution Capital Ltd purchased a new stake in shares of Empire State Realty Trust in the second quarter valued at about $43,706,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Empire State Realty Trust by 55.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,905,653 shares of the real estate investment trust's stock worth $25,509,000 after purchasing an additional 1,750,544 shares during the last quarter. 67.10% of the stock is currently owned by institutional investors and hedge funds.

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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