Empire State Realty Trust Inc (ESRT) Receives Average Rating of “Hold” from Analysts

Empire State Realty Trust Inc (NYSE:ESRT) has received an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $19.00.

Several equities analysts have recently commented on ESRT shares. ValuEngine downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Zacks Investment Research downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, April 25th. Evercore ISI downgraded shares of Empire State Realty Trust from an “outperform” rating to an “inline” rating in a report on Monday, June 11th. Finally, Wells Fargo & Co lowered their target price on shares of Empire State Realty Trust from $21.00 to $19.00 and set a “market perform” rating on the stock in a report on Friday, March 23rd.

Shares of Empire State Realty Trust traded up $0.07, hitting $17.30, during mid-day trading on Monday, MarketBeat Ratings reports. The company had a trading volume of 1,637,400 shares, compared to its average volume of 1,291,370. Empire State Realty Trust has a 52-week low of $15.94 and a 52-week high of $21.24. The company has a debt-to-equity ratio of 0.97, a quick ratio of 9.00 and a current ratio of 9.00. The company has a market capitalization of $2.85 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 4.98 and a beta of 0.93.

Empire State Realty Trust (NYSE:ESRT) last released its earnings results on Wednesday, April 25th. The real estate investment trust reported $0.06 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.13). Empire State Realty Trust had a return on equity of 3.94% and a net margin of 10.85%. The company had revenue of $122.31 million during the quarter, compared to analysts’ expectations of $122.72 million. research analysts predict that Empire State Realty Trust will post 0.87 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 29th. Investors of record on Friday, June 15th were paid a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend was Thursday, June 14th. Empire State Realty Trust’s payout ratio is 43.75%.

In other Empire State Realty Trust news, major shareholder Quark Holding Llc purchased 284,015 shares of the firm’s stock in a transaction that occurred on Thursday, May 31st. The shares were bought at an average price of $16.72 per share, with a total value of $4,748,730.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 11.50% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in ESRT. Brown Advisory Inc. purchased a new stake in Empire State Realty Trust during the first quarter valued at $177,000. Xact Kapitalforvaltning AB purchased a new stake in Empire State Realty Trust during the fourth quarter valued at $208,000. Verition Fund Management LLC purchased a new stake in Empire State Realty Trust during the first quarter valued at $214,000. TLP Group LLC purchased a new stake in Empire State Realty Trust during the first quarter valued at $451,000. Finally, Quantbot Technologies LP purchased a new stake in Empire State Realty Trust during the first quarter valued at $517,000. 77.06% of the stock is currently owned by institutional investors.

Empire State Realty Trust Company Profile

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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