Brokerages Set Empire State Realty Trust, Inc. (NYSE:ESRT) Target Price at $10.43

Shares of Empire State Realty Trust, Inc. (NYSE:ESRT) have received an average recommendation of “Hold” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $10.4333.

Several research firms have weighed in on ESRT. Wall Street Zen raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Empire State Realty Trust in a report on Saturday, September 27th.

Empire State Realty Trust Stock Up 0.3%

Shares of ESRT stock opened at $7.77 on Friday. The stock’s fifty day moving average price is $7.55 and its 200 day moving average price is $7.66. Empire State Realty Trust has a 1-year low of $6.56 and a 1-year high of $11.62. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 32.39 and a beta of 1.79. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.03 and a quick ratio of 4.03.

Empire State Realty Trust (NYSE:ESRT) last issued its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.22 earnings per share for the quarter. Empire State Realty Trust had a return on equity of 2.45% and a net margin of 5.67%.The business had revenue of $153.54 million during the quarter. Empire State Realty Trust has set its FY 2025 guidance at 0.830-0.860 EPS. On average, research analysts expect that Empire State Realty Trust will post 0.88 earnings per share for the current fiscal year.

Empire State Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, September 15th. Empire State Realty Trust’s payout ratio is 58.33%.

Institutional Trading of Empire State Realty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESRT. Quantbot Technologies LP acquired a new stake in shares of Empire State Realty Trust during the 1st quarter valued at about $37,000. CWM LLC boosted its position in Empire State Realty Trust by 1,704.7% during the second quarter. CWM LLC now owns 8,121 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 7,671 shares in the last quarter. Simplex Trading LLC grew its holdings in Empire State Realty Trust by 869.5% in the second quarter. Simplex Trading LLC now owns 8,260 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 7,408 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Empire State Realty Trust in the second quarter valued at approximately $74,000. Finally, US Bancorp DE grew its stake in Empire State Realty Trust by 22.4% in the 1st quarter. US Bancorp DE now owns 9,973 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 1,824 shares during the period. Institutional investors and hedge funds own 67.10% of the company’s stock.

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.