Empire State Realty Trust (NYSE:ESRT) Sets New 52-Week Low at $6.24

Empire State Realty Trust, Inc. (NYSE:ESRT – Get Rating) reached a new 52-week low on Thursday . The stock traded as low as $6.24 and last traded at $6.51, with a volume of 355011 shares trading hands. The stock had previously closed at $6.61.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. BMO Capital Markets raised Empire State Realty Trust from a “market perform” rating to an “outperform” rating and set a $9.00 price objective for the company in a research note on Friday, March 3rd. StockNews.com assumed coverage on Empire State Realty Trust in a research report on Thursday. They set a “hold” rating for the company. Citigroup raised their price target on Empire State Realty Trust from $7.25 to $7.50 and gave the stock a “neutral” rating in a research report on Wednesday, March 1st. TheStreet raised Empire State Realty Trust from a “d+” rating to a “c” rating in a research report on Wednesday, February 15th. Finally, Wells Fargo & Company raised their price target on Empire State Realty Trust from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Empire State Realty Trust has a consensus rating of “Hold” and a consensus price target of $8.35.

Empire State Realty Trust Stock Down 8.6 %

The firm has a fifty day moving average price of $7.61 and a 200-day moving average price of $7.24. The company has a quick ratio of 7.17, a current ratio of 7.17 and a debt-to-equity ratio of 1.33. The firm has a market cap of $978.21 million, a price-to-earnings ratio of 27.55, a PEG ratio of 2.58 and a beta of 1.19.

Empire State Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Tuesday, March 14th. Empire State Realty Trust’s dividend payout ratio (DPR) is 63.64%.

Institutional Investors Weigh In On Empire State Realty Trust

Several hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. boosted its holdings in Empire State Realty Trust by 7.9% in the fourth quarter. Macquarie Group Ltd. now owns 28,134 shares of the real estate investment trust’s stock valued at $190,000 after acquiring an additional 2,058 shares during the last quarter. State of Wyoming boosted its holdings in Empire State Realty Trust by 76.0% in the fourth quarter. State of Wyoming now owns 28,287 shares of the real estate investment trust’s stock valued at $191,000 after acquiring an additional 12,211 shares during the last quarter. Employees Retirement System of Texas acquired a new position in Empire State Realty Trust in the fourth quarter valued at $1,011,000. Toroso Investments LLC acquired a new position in Empire State Realty Trust in the fourth quarter valued at $120,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Empire State Realty Trust in the fourth quarter valued at $88,000. Institutional investors and hedge funds own 76.81% of the company’s stock.

Empire State Realty Trust Company Profile

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Empire State Realty Trust, Inc is a real estate investment trust, which engages in owning, managing, acquiring, and repositioning office and retail properties. It operates through the Real Estate and Observatory segments. The Real Estate segment includes ownership, management, operation, acquisition, repositioning, and disposition of real estate assets.