Empire State Realty Trust (NYSE:ESRT) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Empire State Realty Trust (NYSE:ESRT) from a hold rating to a sell rating in a research note released on Saturday morning.

Other analysts also recently issued reports about the company. Citigroup reduced their price objective on Empire State Realty Trust from $5.75 to $5.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Empire State Realty Trust in a research note on Friday, August 7th. Wells Fargo & Company reduced 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, Evercore set a $5.50 price target on shares of Empire State Realty Trust in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Sell” and an average price target of $5.50.

Empire State Realty Trust Stock Performance

NYSE ESRT opened at $4.72 on Friday. The business has a 50 day moving average price of $5.24 and a 200 day moving average price of $5.47. The company has a market capitalization of $818.04 million, a P/E ratio of 67.51 and a beta of 1.36. Empire State Realty Trust has a 1-year low of $4.61 and a 1-year high of $8.07. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.32 and a quick ratio of 1.32.

Empire State Realty Trust (NYSE:ESRT) last posted its earnings results on Wednesday, July 29th. The real estate investment trust reported ($0.15) earnings per share for the quarter. The firm had revenue of $196.90 million during the quarter. Empire State Realty Trust had a net margin of 0.93% and a return on equity of 0.40%. Empire State Realty Trust has set its FY 2026 guidance at 0.750-0.790 EPS. Sell-side analysts expect that Empire State Realty Trust will post 0.77 EPS for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.035 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 3.0%. Empire State Realty Trust’s payout ratio is currently 200.00%.

Hedge Funds Weigh In On Empire State Realty Trust

Several large investors have recently added to or reduced their stakes in the business. M&T Bank Corp raised its stake in Empire State Realty Trust by 11.7% during the 2nd quarter. M&T Bank Corp now owns 12,961 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 1,360 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of 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 purchasing an additional 1,418 shares in the last quarter. Amundi lifted its stake in shares of Empire State Realty Trust by 2.0% in the 1st quarter. Amundi now owns 78,614 shares of the real estate investment trust’s stock valued at $585,000 after purchasing an additional 1,562 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Empire State Realty Trust by 4.4% in the third quarter. Van ECK Associates Corp now owns 40,169 shares of the real estate investment trust’s stock worth $308,000 after purchasing an additional 1,707 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings 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 purchasing an additional 1,896 shares in the last quarter. 67.10% of the stock is currently 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.