Empire State Realty Trust (NYSE:ESRT) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of Empire State Realty Trust (NYSE:ESRT) from a sell rating to a hold rating in a report released on Friday morning.

Several other analysts also recently commented on ESRT. BMO Capital Markets upped their price objective on Empire State Realty Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Wells Fargo & Company upped their price target on Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 11th.

Empire State Realty Trust Stock Performance

Shares of Empire State Realty Trust stock opened at $10.90 on Friday. The firm’s fifty day simple moving average is $10.79 and its 200-day simple moving average is $10.05. Empire State Realty Trust has a 12 month low of $7.43 and a 12 month high of $11.62. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 36.33 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a current ratio of 4.05 and a quick ratio of 4.05.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.74%. The business had revenue of $199.60 million during the quarter. During the same quarter in the previous year, the company posted $0.25 EPS. As a group, equities analysts forecast that Empire State Realty Trust will post 0.93 earnings per share for the current year.

Empire State Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Monday, September 16th. Empire State Realty Trust’s dividend payout ratio (DPR) is 46.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ESRT. Signaturefd LLC boosted its stake in shares of Empire State Realty Trust by 81.6% during the 3rd quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 1,524 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Empire State Realty Trust by 35.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 1,419 shares during the last quarter. Ballentine Partners LLC purchased a new stake in Empire State Realty Trust during the third quarter worth $129,000. Mercer Global Advisors Inc. ADV acquired a new stake in Empire State Realty Trust in the second quarter valued at $137,000. Finally, Creative Planning increased its position in shares of Empire State Realty Trust by 20.5% in the third quarter. Creative Planning now owns 12,598 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 2,145 shares in the last quarter. 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 (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.