Empire State Realty Trust (NYSE:ESRT) Stock Crosses Below 200 Day Moving Average – What’s Next?

Empire State Realty Trust, Inc. (NYSE:ESRT) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.72 and traded as low as $5.52. Empire State Realty Trust shares last traded at $5.5380, with a volume of 1,029,147 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Evercore set a $6.00 price objective on shares of Empire State Realty Trust in a report on Monday, June 8th. Weiss Ratings downgraded shares of Empire State Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Wells Fargo & Company lowered their target price on shares of Empire State Realty Trust from $6.30 to $6.00 and set an “underweight” rating on the stock in a report on Monday, June 1st. Finally, Citigroup dropped their target price on shares of Empire State Realty Trust from $7.00 to $5.75 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Empire State Realty Trust has a consensus rating of “Sell” and an average target price of $5.92.

Empire State Realty Trust Stock Performance

The business’s fifty day moving average is $5.48 and its two-hundred day moving average is $5.72. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $954.92 million, a PE ratio of 21.30 and a beta of 1.35.

Empire State Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $0.035 per share. The ex-dividend date was Monday, June 15th. This represents a $0.14 annualized dividend and a yield of 2.5%. Empire State Realty Trust’s dividend payout ratio (DPR) is 53.85%.

Hedge Funds Weigh In On Empire State Realty Trust

A number of institutional investors and hedge funds have recently made changes to their positions in ESRT. M&T Bank Corp boosted its holdings in shares of Empire State Realty Trust by 11.7% in the 2nd quarter. M&T Bank Corp now owns 12,961 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 1,360 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Empire State Realty Trust by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 70,992 shares of the real estate investment trust’s stock valued at $574,000 after buying an additional 1,418 shares during the period. Amundi raised its holdings in Empire State Realty Trust by 2.0% during the 1st quarter. Amundi now owns 78,614 shares of the real estate investment trust’s stock valued at $585,000 after buying an additional 1,562 shares during the period. Van ECK Associates Corp raised its holdings in Empire State Realty Trust by 4.4% during the 3rd quarter. Van ECK Associates Corp now owns 40,169 shares of the real estate investment trust’s stock valued at $308,000 after buying an additional 1,707 shares during the period. Finally, Cerity Partners LLC lifted its position in Empire State Realty Trust by 3.0% in the second quarter. Cerity Partners LLC now owns 64,449 shares of the real estate investment trust’s stock worth $521,000 after buying an additional 1,896 shares during the last quarter. 67.10% of the stock is owned by hedge funds and other institutional investors.

About Empire State Realty Trust

Empire State Realty Trust, Inc is a publicly traded real estate investment trust (REIT) focused on the ownership, management and operation of office and retail properties. The company’s portfolio features the iconic Empire State Building in Midtown Manhattan, alongside a diversified collection of commercial assets situated throughout Manhattan, Brooklyn and select markets in Upstate New York. By offering premium office space and street-level retail, Empire State Realty Trust positions itself as a landlord of choice for corporate tenants, retailers and experiential brands seeking high-profile addresses.

Established through a spin-off of assets in early 2013, Empire State Realty Trust consolidated a mix of landmark and Class A properties, creating scale in one of the world’s most competitive real estate markets.