Empire State Realty Trust, Inc. (ESRT) Receives Average Recommendation of “Hold” from Brokerages
Shares of Empire State Realty Trust, Inc. (NYSE:ESRT) have been given an average recommendation of “Hold” by the seven ratings firms that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $22.20.
Several research analysts have recently weighed in on ESRT shares. TheStreet raised Empire State Realty Trust from a “c+” rating to a “b” rating in a research note on Thursday, April 27th. BMO Capital Markets set a $23.00 target price on Empire State Realty Trust and gave the company a “buy” rating in a report on Wednesday, May 31st. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $21.00 target price on shares of Empire State Realty Trust in a report on Thursday, June 22nd. Finally, Evercore ISI assumed coverage on Empire State Realty Trust in a report on Wednesday, May 31st. They issued an “in-line” rating and a $23.00 target price for the company.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Henderson Group PLC increased its position in shares of Empire State Realty Trust by 4.4% in the first quarter. Henderson Group PLC now owns 422,483 shares of the real estate investment trust’s stock valued at $8,714,000 after buying an additional 17,970 shares during the period. Norges Bank acquired a new stake in Empire State Realty Trust during the fourth quarter worth $26,057,000. Pensionfund Sabic increased its stake in Empire State Realty Trust by 8.3% in the first quarter. Pensionfund Sabic now owns 26,000 shares of the real estate investment trust’s stock worth $537,000 after buying an additional 2,000 shares during the period. AQR Capital Management LLC increased its stake in Empire State Realty Trust by 8.3% in the fourth quarter. AQR Capital Management LLC now owns 63,688 shares of the real estate investment trust’s stock worth $1,286,000 after buying an additional 4,870 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Empire State Realty Trust by 26.1% in the first quarter. Alliancebernstein L.P. now owns 4,245,957 shares of the real estate investment trust’s stock worth $87,637,000 after buying an additional 878,264 shares during the period. Institutional investors own 83.24% of the company’s stock.
Shares of Empire State Realty Trust (NYSE ESRT) traded up 0.45% during trading on Monday, hitting $20.26. 102,618 shares of the stock traded hands. Empire State Realty Trust has a 52-week low of $18.62 and a 52-week high of $22.31. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of 53.60 and a beta of 1.01. The stock has a 50 day moving average of $20.84 and a 200 day moving average of $20.81.
Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. The company had revenue of $164.95 million during the quarter, compared to the consensus estimate of $118.20 million. Empire State Realty Trust had a return on equity of 3.88% and a net margin of 11.02%. Empire State Realty Trust’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. Analysts expect that Empire State Realty Trust will post $0.92 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were paid a dividend of $0.105 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $0.42 dividend on an annualized basis and a yield of 2.08%. Empire State Realty Trust’s dividend payout ratio is presently 110.53%.
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Empire State Realty Trust Company Profile
Empire State Realty Trust, Inc is a real estate investment trust. The Company 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 Company operates through two segments: Real Estate and Observatory.
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