Empire State Realty Trust, Inc. (NYSE:ESRT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Empire State Realty Trust, Inc. (NYSE:ESRT) have received an average recommendation of “Hold” from the five research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $10.4333.

ESRT has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Empire State Realty Trust in a research note on Tuesday, October 14th. Wall Street Zen upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 23rd.

Empire State Realty Trust Price Performance

NYSE ESRT opened at $7.39 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 4.03 and a current ratio of 4.03. The firm’s 50 day moving average price is $7.61 and its 200-day moving average price is $7.68. Empire State Realty Trust has a 52-week low of $6.56 and a 52-week high of $11.43. The company has a market cap of $1.25 billion, a PE ratio of 35.19 and a beta of 1.79.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter. Empire State Realty Trust had a net margin of 4.96% and a return on equity of 2.13%. The firm had revenue of $158.41 million for the quarter. Empire State Realty Trust has set its FY 2025 guidance at 0.830-0.860 EPS. Sell-side analysts forecast that Empire State Realty Trust will post 0.88 EPS 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. Shareholders of record on Monday, September 15th were paid a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, September 15th. Empire State Realty Trust’s dividend payout ratio (DPR) is 66.67%.

Institutional Investors Weigh In On Empire State Realty Trust

Several institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in Empire State Realty Trust by 11.0% in the second quarter. Ameriprise Financial Inc. now owns 10,780,699 shares of the real estate investment trust’s stock valued at $87,172,000 after acquiring an additional 1,068,865 shares in the last quarter. Resolution Capital Ltd purchased a new position in shares of Empire State Realty Trust in the second quarter worth $43,706,000. Geode Capital Management LLC raised its holdings in shares of Empire State Realty Trust by 2.3% in the second quarter. Geode Capital Management LLC now owns 3,550,460 shares of the real estate investment trust’s stock worth $28,727,000 after buying an additional 79,525 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Empire State Realty Trust by 137.7% in 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 buying an additional 1,798,850 shares during the last quarter. Finally, Centersquare Investment Management LLC raised its holdings in shares of Empire State Realty Trust by 6,189.6% in the first quarter. Centersquare Investment Management LLC now owns 2,805,998 shares of the real estate investment trust’s stock worth $21,943,000 after buying an additional 2,761,385 shares during the last quarter. 67.10% of the stock is currently owned by institutional investors and hedge funds.

About Empire State Realty Trust

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.