Empire State Realty Trust, Inc. (NYSE:ESRT) has been given a consensus recommendation of “Hold” by the eight brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $22.20.

Several analysts have recently commented on ESRT shares. TheStreet upgraded shares of Empire State Realty Trust from a “c+” rating to a “b” rating in a report on Thursday, April 27th. BMO Capital Markets set a $23.00 target price on shares of Empire State Realty Trust and gave the company a “buy” rating in a report on Saturday, May 13th. BidaskClub upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Evercore ISI started coverage on shares of 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. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $21.00 target price on shares of Empire State Realty Trust in a report on Thursday, June 22nd.

Shares of Empire State Realty Trust (NYSE ESRT) traded down 0.87% on Friday, hitting $20.59. 516,168 shares of the stock were exchanged. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 52.53 and a beta of 1.01. Empire State Realty Trust has a 1-year low of $18.62 and a 1-year high of $22.31. The stock’s 50-day moving average is $20.55 and its 200-day moving average is $20.86.

Empire State Realty Trust (NYSE:ESRT) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The company had revenue of $120.80 million during the quarter, compared to the consensus estimate of $118.81 million. Empire State Realty Trust had a net margin of 11.67% and a return on equity of 3.85%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 earnings per share. Analysts forecast that Empire State Realty Trust will post $0.92 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.105 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.42 annualized dividend and a dividend yield of 2.02%. Empire State Realty Trust’s dividend payout ratio is currently 107.70%.

A number of hedge funds have recently bought and sold shares of ESRT. Vanguard Group Inc. increased its stake in Empire State Realty Trust by 8.1% in the first quarter. Vanguard Group Inc. now owns 22,461,415 shares of the real estate investment trust’s stock worth $463,603,000 after buying an additional 1,676,832 shares during the period. Daiwa Securities Group Inc. increased its stake in Empire State Realty Trust by 19.5% in the second quarter. Daiwa Securities Group Inc. now owns 7,302,285 shares of the real estate investment trust’s stock worth $151,669,000 after buying an additional 1,192,471 shares during the period. BlackRock Inc. increased its stake in Empire State Realty Trust by 3.3% in the second quarter. BlackRock Inc. now owns 7,131,040 shares of the real estate investment trust’s stock worth $148,111,000 after buying an additional 229,390 shares during the period. Resolution Capital Ltd increased its stake in Empire State Realty Trust by 16.8% in the first quarter. Resolution Capital Ltd now owns 5,678,278 shares of the real estate investment trust’s stock worth $117,200,000 after buying an additional 815,100 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Empire State Realty Trust by 4.7% in the second quarter. Alliancebernstein L.P. now owns 4,444,929 shares of the real estate investment trust’s stock worth $92,321,000 after buying an additional 198,972 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

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About Empire State Realty Trust

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.

Analyst Recommendations for Empire State Realty Trust (NYSE:ESRT)

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