Empire State Realty Trust, Inc. (NYSE:ESRT) Given Consensus Rating of “Hold” by Brokerages

Shares of Empire State Realty Trust, Inc. (NYSE:ESRT – Get Rating) have earned an average recommendation of “Hold” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $10.50.

Several equities analysts have recently commented on the stock. StockNews.com cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, May 7th. Evercore ISI raised Empire State Realty Trust from an “in-line” rating to an “outperform” rating and set a $11.00 price target for the company in a report on Monday, May 2nd. Zacks Investment Research upgraded Empire State Realty Trust from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research report on Monday, May 9th. Finally, BMO Capital Markets downgraded Empire State Realty Trust from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $11.00 to $8.00 in a research note on Monday, March 7th.

NYSE:ESRT opened at $7.94 on Friday. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -66.17, a PEG ratio of 1.27 and a beta of 0.99. Empire State Realty Trust has a fifty-two week low of $7.44 and a fifty-two week high of $13.11. The company has a debt-to-equity ratio of 1.39, a quick ratio of 6.73 and a current ratio of 6.73. The stock has a fifty day moving average price of $8.67 and a 200-day moving average price of $9.12.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Tuesday, June 14th. Empire State Realty Trust’s payout ratio is currently -116.67%.

Several hedge funds have recently added to or reduced their stakes in ESRT. Equity Investment Corp lifted its position in shares of Empire State Realty Trust by 46.0% in the 1st quarter. Equity Investment Corp now owns 5,362,043 shares of the real estate investment trust’s stock worth $52,655,000 after purchasing an additional 1,689,535 shares during the period. Norges Bank acquired a new position in shares of Empire State Realty Trust in the 4th quarter worth approximately $13,304,000. Credit Suisse AG lifted its position in shares of Empire State Realty Trust by 16.9% in the 4th quarter. Credit Suisse AG now owns 7,422,822 shares of the real estate investment trust’s stock worth $66,063,000 after purchasing an additional 1,073,006 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Empire State Realty Trust by 36.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,794,641 shares of the real estate investment trust’s stock worth $33,772,000 after purchasing an additional 1,017,288 shares during the period. Finally, State Street Corp lifted its position in shares of Empire State Realty Trust by 15.5% in the 1st quarter. State Street Corp now owns 7,256,222 shares of the real estate investment trust’s stock worth $71,256,000 after purchasing an additional 974,740 shares during the period. 77.78% of the stock is owned by hedge funds and other institutional investors.

Empire State Realty Trust Company Profile (Get Rating)

Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the World's Most Famous Building.

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