Empire State Realty Trust (NYSE:ESRT) Stock Price Breaks Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Empire State Realty Trust shares fell below their 200-day moving average, reaching $3.96 before closing at $4.1350, compared with a 200-day average of $5.13.
• Analyst sentiment is broadly negative: the company has a consensus “Sell” rating and a $5.00 average price target, with Wells Fargo and Citigroup recently lowering their targets.
• The REIT reported a quarterly loss of $0.15 per share and maintains a $0.14 annualized dividend yielding about 3.4%; institutional investors own 67.1% of outstanding shares.

Empire State Realty Trust, Inc. (NYSE:ESRT - Get Free Report) passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $5.13 and traded as low as $3.96. Empire State Realty Trust shares last traded at $4.1350, with a volume of 4,761,334 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ESRT. Evercore set a $5.00 price target on Empire State Realty Trust in a research report on Monday, September 21st. Wells Fargo & Company cut their price objective on Empire State Realty Trust from $6.00 to $5.00 and set an "underweight" rating on the stock in a report on Tuesday, September 1st. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Empire State Realty Trust in a research note on Friday, August 7th. Wall Street Zen lowered shares of Empire State Realty Trust from a "hold" rating to a "sell" rating in a research note on Saturday, August 22nd. Finally, Citigroup decreased their target price 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. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Sell" and a consensus price target of $5.00.

Empire State Realty Trust Stock Up 2.6%

The stock has a market cap of $715.89 million, a P/E ratio of 59.08 and a beta of 1.40. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.15. The firm's fifty day moving average is $4.60 and its 200 day moving average is $5.13.

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. The firm had revenue of $196.90 million for the quarter. Empire State Realty Trust had a net margin of 0.93% and a return on equity of 0.40%. Empire State Realty Trust has set its FY 2026 guidance at 0.750-0.790 EPS. As a group, equities research analysts forecast that Empire State Realty Trust, Inc. will post 0.77 EPS for the current year.

Empire State Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were given a $0.0350 dividend. This represents a $0.14 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Tuesday, September 15th. Empire State Realty Trust's payout ratio is currently 200.00%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Cohen & Steers Inc. lifted its stake in Empire State Realty Trust by 456.9% during the fourth quarter. Cohen & Steers Inc. now owns 11,128,303 shares of the real estate investment trust's stock worth $72,557,000 after purchasing an additional 9,129,959 shares during the period. Lasalle Investment Management Securities LLC raised its stake in Empire State Realty Trust by 64.0% during the first quarter. Lasalle Investment Management Securities LLC now owns 9,058,860 shares of the real estate investment trust's stock worth $47,106,000 after acquiring an additional 3,534,376 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake 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 acquiring an additional 1,750,544 shares in the last quarter. Centersquare Investment Management LLC lifted its holdings in shares of Empire State Realty Trust by 1.4% during the fourth quarter. Centersquare Investment Management LLC now owns 3,524,489 shares of the real estate investment trust's stock valued at $22,980,000 after acquiring an additional 48,920 shares during the period. Finally, SummitTX Capital L.P. lifted its holdings in shares of Empire State Realty Trust by 11.3% during the first quarter. SummitTX Capital L.P. now owns 1,434,267 shares of the real estate investment trust's stock valued at $7,458,000 after acquiring an additional 146,070 shares during the period. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Empire State Realty Trust Company Profile

Empire State Realty Trust, Inc is a publicly traded real estate investment trust that owns, manages, and operates office, retail, and multifamily properties primarily in Manhattan and the greater New York City region. The company's portfolio includes office and retail buildings serving businesses, residents, and visitors.

Its best-known property is the Empire State Building, which includes office space, retail offerings, and the Empire State Building Observatory. The company also operates other prominent commercial properties in Manhattan, including buildings in Midtown and the surrounding business districts.

Empire State Realty Trust was established as a public REIT in 2013.

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