Empire State Realty Trust (NYSE:ESRT) Share Price Breaks Above Two Hundred Day Moving Average – Time to Sell?

Empire State Realty Trust, Inc. (NYSE:ESRT) passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $5.28 and traded as high as $5.38. Empire State Realty Trust shares last traded at $5.3150, with a volume of 3,804,907 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ESRT. Citigroup decreased their price target on shares of Empire State Realty Trust from $5.75 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Empire State Realty Trust in a research note on Wednesday. Evercore set a $5.00 target price on shares of Empire State Realty Trust in a research report on Monday, September 21st. Wells Fargo & Company decreased their target price on shares of Empire State Realty Trust from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Tuesday, September 1st. Finally, Wall Street Zen raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Empire State Realty Trust has an average rating of “Sell” and a consensus target price of $5.00.

Empire State Realty Trust Stock Performance

The firm has a 50-day simple moving average of $4.54 and a two-hundred day simple moving average of $5.28. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $916.72 million, a price-to-earnings ratio of 132.41 and a beta of 1.41.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings results on Monday, November 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter. Empire State Realty Trust had a return on equity of 0.13% and a net margin of 0.30%. The business had revenue of $193.05 million during the quarter. As a group, sell-side analysts forecast that Empire State Realty Trust, Inc. will post 0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc boosted its holdings in Empire State Realty Trust by 380.9% in the third quarter. Versant Capital Management Inc now owns 9,205 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 7,291 shares in the last quarter. Interchange Capital Partners LLC bought a new position in Empire State Realty Trust during the third quarter valued at about $40,000. 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 buying an additional 5,124 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Empire State Realty Trust during the first quarter valued at about $60,000. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Empire State Realty Trust in the third quarter worth about $62,000. Institutional investors own 67.10% of the company’s stock.

About Empire State Realty Trust

Empire State Realty Trust, Inc is a self-managed real estate investment trust that owns, manages, operates, acquires and repositions office, retail and multifamily properties in New York City and the surrounding metropolitan area. Its portfolio is concentrated in Manhattan and includes properties serving businesses, residents, retailers and visitors.

The company’s landmark asset is the Empire State Building, which it operates as a mixed-use office, retail and tourist destination. Empire State Realty Trust also manages the building’s public observatories, offering visitors views of New York City, and provides leasing and property-management services across its portfolio.

Empire State Realty Trust was formed in 2011 and became a publicly traded company in 2013.