Empire State Realty Trust, Inc. (NYSE:ESRT – Get Free Report)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.89 and traded as low as $5.12. Empire State Realty Trust shares last traded at $5.17, with a volume of 1,585,798 shares changing hands.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on ESRT shares. Citigroup reduced their price objective on shares of Empire State Realty Trust from $7.00 to $5.75 and set a “neutral” rating for the company in a research note on Wednesday, April 15th. Evercore set a $6.00 target price on Empire State Realty Trust in a report on Monday, June 8th. Weiss Ratings cut Empire State Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Finally, Wells Fargo & Company decreased their price target on Empire State Realty Trust from $6.30 to $6.00 and set an “underweight” rating for the company in a research note on Monday, June 1st. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Sell” and a consensus target price of $5.92.
Read Our Latest Analysis on ESRT
Empire State Realty Trust Trading Down 0.3%
Empire State Realty Trust Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, June 15th. Empire State Realty Trust’s dividend payout ratio (DPR) is currently 53.85%.
Hedge Funds Weigh In On Empire State Realty Trust
Several large investors have recently made changes to their positions in ESRT. Aster Capital Management DIFC Ltd acquired a new stake in Empire State Realty Trust in the 3rd quarter valued at approximately $29,000. Royal Bank of Canada increased its position in Empire State Realty Trust by 86.1% in the 1st quarter. Royal Bank of Canada now owns 11,078 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 5,124 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Empire State Realty Trust during the first quarter worth approximately $60,000. DRW Securities LLC acquired a new position in shares of Empire State Realty Trust during the fourth quarter worth approximately $69,000. Finally, Vise Technologies Inc. bought a new stake in shares of Empire State Realty Trust in the fourth quarter valued at approximately $71,000. Institutional investors and hedge funds own 67.10% of the company’s stock.
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.
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