Citigroup Has Lowered Expectations for Empire State Realty Trust (NYSE:ESRT) Stock Price

Empire State Realty Trust (NYSE:ESRT) had its price objective lowered by Citigroup from $7.00 to $5.75 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s target price suggests a potential upside of 5.56% from the company’s current price.

A number of other equities analysts have also commented on the stock. Wells Fargo & Company reduced their price target on shares of Empire State Realty Trust from $6.80 to $6.30 and set an “underweight” rating on the stock in a research report on Monday, March 2nd. Evercore set a $7.00 price target on shares of Empire State Realty Trust in a research report on Wednesday, February 18th. Finally, Weiss Ratings lowered shares of Empire State Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Empire State Realty Trust currently has a consensus rating of “Sell” and a consensus price target of $6.35.

Empire State Realty Trust Price Performance

Shares of Empire State Realty Trust stock opened at $5.45 on Wednesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.67 and a current ratio of 1.67. The firm’s 50-day simple moving average is $5.58 and its 200-day simple moving average is $6.49. Empire State Realty Trust has a twelve month low of $4.87 and a twelve month high of $8.76. The firm has a market cap of $932.74 million, a P/E ratio of 20.95 and a beta of 1.38.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings results on Tuesday, February 17th. The real estate investment trust reported $0.12 EPS for the quarter. The firm had revenue of $199.22 million for the quarter. Empire State Realty Trust had a net margin of 6.06% and a return on equity of 2.59%. Empire State Realty Trust has set its FY 2026 guidance at 0.850-0.890 EPS. As a group, research analysts expect that Empire State Realty Trust will post 0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ESRT. Amundi boosted its holdings in shares of Empire State Realty Trust by 2.0% in the first quarter. Amundi now owns 78,614 shares of the real estate investment trust’s stock valued at $585,000 after buying an additional 1,562 shares during the period. AQR Capital Management LLC boosted its holdings in Empire State Realty Trust by 35.9% during the first quarter. AQR Capital Management LLC now owns 26,800 shares of the real estate investment trust’s stock worth $209,000 after purchasing an additional 7,079 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Empire State Realty Trust by 5.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,552 shares of the real estate investment trust’s stock worth $638,000 after purchasing an additional 4,535 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Empire State Realty Trust by 137.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,105,313 shares of the real estate investment trust’s stock worth $24,284,000 after acquiring an additional 1,798,850 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Empire State Realty Trust by 9.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,134,086 shares of the real estate investment trust’s stock worth $8,869,000 after acquiring an additional 98,148 shares in the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

About Empire State Realty Trust

Empire State Realty Trust, Inc is a publicly traded real estate investment trust (REIT) focused on the ownership, management and operation of office and retail properties. The company’s portfolio features the iconic Empire State Building in Midtown Manhattan, alongside a diversified collection of commercial assets situated throughout Manhattan, Brooklyn and select markets in Upstate New York. By offering premium office space and street-level retail, Empire State Realty Trust positions itself as a landlord of choice for corporate tenants, retailers and experiential brands seeking high-profile addresses.

Established through a spin-off of assets in early 2013, Empire State Realty Trust consolidated a mix of landmark and Class A properties, creating scale in one of the world’s most competitive real estate markets.