Empire State Realty Trust Inc (NYSE:ESRT) has been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $19.75.
ESRT has been the subject of a number of recent analyst reports. BMO Capital Markets set a $81.00 price target on shares of Kilroy Realty and gave the stock a “buy” rating in a report on Wednesday. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Zacks Investment Research downgraded shares of Hallmark Financial Services from a “buy” rating to a “hold” rating in a report on Thursday.
A number of institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP increased its position in Empire State Realty Trust by 131.6% during the 4th quarter. First Trust Advisors LP now owns 58,568 shares of the real estate investment trust’s stock valued at $833,000 after buying an additional 33,280 shares in the last quarter. Advisor Group Inc. increased its position in Empire State Realty Trust by 6.1% during the 4th quarter. Advisor Group Inc. now owns 12,547 shares of the real estate investment trust’s stock valued at $179,000 after buying an additional 722 shares in the last quarter. Great West Life Assurance Co. Can increased its position in Empire State Realty Trust by 36.8% during the 4th quarter. Great West Life Assurance Co. Can now owns 26,395 shares of the real estate investment trust’s stock valued at $362,000 after buying an additional 7,102 shares in the last quarter. California State Teachers Retirement System increased its position in Empire State Realty Trust by 2.8% during the 4th quarter. California State Teachers Retirement System now owns 229,352 shares of the real estate investment trust’s stock valued at $3,264,000 after buying an additional 6,168 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Empire State Realty Trust by 8.2% during the 4th quarter. Geode Capital Management LLC now owns 1,379,817 shares of the real estate investment trust’s stock valued at $19,634,000 after buying an additional 105,149 shares in the last quarter. Hedge funds and other institutional investors own 75.03% of the company’s stock.
Shares of NYSE ESRT traded down $0.08 during midday trading on Friday, reaching $14.17. 1,234,200 shares of the stock were exchanged, compared to its average volume of 1,131,761. The firm has a 50 day moving average of $15.10. The stock has a market cap of $2.53 billion, a PE ratio of 14.46, a P/E/G ratio of 5.96 and a beta of 0.76. The company has a quick ratio of 6.90, a current ratio of 6.90 and a debt-to-equity ratio of 0.99. Empire State Realty Trust has a twelve month low of $13.66 and a twelve month high of $17.86.
Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). The firm had revenue of $141.10 million for the quarter, compared to analyst estimates of $133.31 million. Empire State Realty Trust had a return on equity of 3.24% and a net margin of 8.81%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 EPS. On average, research analysts predict that Empire State Realty Trust will post 0.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.105 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.42 annualized dividend and a yield of 2.96%. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 42.86%.
About Empire State Realty Trust
Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), 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 world's most famous building.
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