Empire State Realty Trust (NYSE:ESRT) Price Target Raised to $6.00

Empire State Realty Trust (NYSE:ESRT – Get Rating) had its price target hoisted by Wells Fargo & Company from $5.00 to $6.00 in a research note published on Thursday, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently issued reports on ESRT. Citigroup boosted their price target on Empire State Realty Trust from $7.25 to $7.50 and gave the company a neutral rating in a research note on Wednesday, March 1st. StockNews.com initiated coverage on Empire State Realty Trust in a research note on Thursday. They set a hold rating for the company. TheStreet upgraded Empire State Realty Trust from a d+ rating to a c rating in a research note on Wednesday, February 15th. BMO Capital Markets upgraded Empire State Realty Trust from a market perform rating to an outperform rating and set a $9.00 price target for the company in a research note on Friday, March 3rd. Finally, Bank of America upgraded Empire State Realty Trust from a neutral rating to a buy rating and set a $9.25 price target for the company in a research note on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $8.35.

Empire State Realty Trust Trading Down 8.6 %

Empire State Realty Trust stock opened at $6.06 on Thursday. The business has a 50-day simple moving average of $7.61 and a two-hundred day simple moving average of $7.24. The company has a market cap of $978.21 million, a P/E ratio of 27.55, a P/E/G ratio of 2.60 and a beta of 1.19. Empire State Realty Trust has a 52-week low of $6.04 and a 52-week high of $10.06. The company has a quick ratio of 7.17, a current ratio of 7.17 and a debt-to-equity ratio of 1.33.

Empire State Realty Trust Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ESRT. Massachusetts Financial Services Co. MA lifted its holdings in Empire State Realty Trust by 1.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,144,246 shares of the real estate investment trust’s stock worth $71,314,000 after purchasing an additional 143,747 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Empire State Realty Trust in the 3rd quarter worth approximately $103,000. Segall Bryant & Hamill LLC lifted its holdings in Empire State Realty Trust by 2.4% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,292,588 shares of the real estate investment trust’s stock worth $8,481,000 after purchasing an additional 29,843 shares in the last quarter. AlphaCrest Capital Management LLC lifted its holdings in Empire State Realty Trust by 181.6% in the 2nd quarter. AlphaCrest Capital Management LLC now owns 114,061 shares of the real estate investment trust’s stock worth $802,000 after purchasing an additional 73,554 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. lifted its holdings in Empire State Realty Trust by 3.5% in the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 88,072 shares of the real estate investment trust’s stock worth $578,000 after purchasing an additional 2,985 shares in the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

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.