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

Empire State Realty Trust, Inc. (NYSE:ESRTGet Rating) has been assigned an average recommendation of “Hold” from the six ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $7.67.

A number of analysts have recently weighed in on ESRT shares. Wells Fargo & Company decreased their price target on shares of Empire State Realty Trust from $5.50 to $5.00 and set an “underweight” rating for the company in a research report on Tuesday, October 18th. StockNews.com started coverage on shares of Empire State Realty Trust in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, TheStreet downgraded shares of Empire State Realty Trust from a “c-” rating to a “d+” rating in a research report on Friday, November 25th.

Empire State Realty Trust Stock Up 0.7 %

ESRT stock opened at $7.35 on Monday. Empire State Realty Trust has a twelve month low of $6.24 and a twelve month high of $10.06. The company has a current ratio of 7.52, a quick ratio of 7.52 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $1.19 billion, a P/E ratio of 61.25, a PEG ratio of 1.02 and a beta of 1.12. The firm has a 50 day simple moving average of $7.14 and a 200-day simple moving average of $7.23.

Empire State Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Monday, December 19th were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Friday, December 16th. Empire State Realty Trust’s dividend payout ratio is presently 116.67%.

Institutional Investors Weigh In On Empire State Realty Trust

A number of hedge funds have recently added to or reduced their stakes in ESRT. Raymond James & Associates lifted its stake in Empire State Realty Trust by 25.0% in the first quarter. Raymond James & Associates now owns 276,068 shares of the real estate investment trust’s stock valued at $2,711,000 after buying an additional 55,271 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Empire State Realty Trust in the first quarter valued at $141,000. Bank of Montreal Can lifted its stake in Empire State Realty Trust by 7.6% in the first quarter. Bank of Montreal Can now owns 27,846 shares of the real estate investment trust’s stock valued at $276,000 after buying an additional 1,955 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Empire State Realty Trust by 36.4% in the first quarter. MetLife Investment Management LLC now owns 67,238 shares of the real estate investment trust’s stock valued at $660,000 after buying an additional 17,932 shares during the last quarter. Finally, APG Asset Management N.V. bought a new stake in Empire State Realty Trust in the first quarter valued at $1,515,000. 76.81% of the stock is currently owned by 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.

Recommended Stories

Receive News & Ratings for Empire State Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Empire State Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.