Empire State Realty Trust (NYSE:ESRT) Stock Crosses Below 200 Day Moving Average – What’s Next?

Empire State Realty Trust, Inc. (NYSE:ESRT)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.72 and traded as low as $5.52. Empire State Realty Trust shares last traded at $5.5380, with a volume of 1,029,147 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Evercore set a $6.00 price objective on shares of Empire State Realty Trust in a research report on Monday, June 8th. Citigroup decreased their target price on Empire State Realty Trust from $7.00 to $5.75 and set a “neutral” rating on the stock in a report on Wednesday, April 15th. Wells Fargo & Company lowered their target price on Empire State Realty Trust from $6.30 to $6.00 and set an “underweight” rating on the stock in a research report on Monday, June 1st. Finally, Weiss Ratings lowered Empire State Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell” and a consensus target price of $5.92.

Empire State Realty Trust Stock Performance

The company has a market cap of $954.92 million, a P/E ratio of 21.30 and a beta of 1.35. The business’s 50 day simple moving average is $5.48 and its 200 day simple moving average is $5.72. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 1.22.

Empire State Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, June 15th. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 53.85%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ESRT. Royal Bank of Canada raised its holdings in Empire State Realty Trust by 86.1% during the first quarter. Royal Bank of Canada now owns 11,078 shares of the real estate investment trust’s stock valued at $58,000 after acquiring an additional 5,124 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of Empire State Realty Trust in the first quarter valued at about $60,000. DRW Securities LLC bought a new position in shares of Empire State Realty Trust in the fourth quarter worth about $69,000. Vise Technologies Inc. bought a new position in shares of Empire State Realty Trust in the fourth quarter worth about $71,000. Finally, Federation des caisses Desjardins du Quebec boosted its stake in shares of Empire State Realty Trust by 29.1% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 11,180 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 2,523 shares during the period. Institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Company Profile

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.