Empire State Realty Trust (NYSE:ESRT) Sets New 12-Month Low – Here’s Why

Empire State Realty Trust, Inc. (NYSE:ESRT) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $4.04 and last traded at $4.0550, with a volume of 3483264 shares. The stock had previously closed at $4.23.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ESRT shares. Wall Street Zen lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Evercore set a $5.50 price objective on shares of Empire State Realty Trust in a research report on Thursday, July 30th. Citigroup dropped their price objective on shares of Empire State Realty Trust from $5.75 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Wells Fargo & Company cut their price objective on shares of Empire State Realty Trust from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 1st. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Empire State Realty Trust in a research note on Friday, August 7th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Empire State Realty Trust has a consensus rating of “Sell” and a consensus target price of $5.17.

Empire State Realty Trust Price Performance

The stock has a market cap of $707.24 million, a price-to-earnings ratio of 58.37 and a beta of 1.36. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.32 and a current ratio of 1.32. The company has a 50-day simple moving average of $4.95 and a two-hundred day simple moving average of $5.25.

Empire State Realty Trust (NYSE:ESRT) last released 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. As a group, equities research analysts forecast that Empire State Realty Trust, Inc. will post 0.77 EPS for the current year.

Empire State Realty Trust Announces Dividend

The company 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. This represents a $0.14 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 15th. Empire State Realty Trust’s dividend payout ratio (DPR) is 200.00%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. ProShare Advisors LLC raised its position in Empire State Realty Trust by 8.4% during the 4th quarter. ProShare Advisors LLC now owns 25,603 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 1,991 shares during the last quarter. Royal Bank of Canada grew its position in shares of 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 valued at $58,000 after buying an additional 5,124 shares during the last quarter. Resona Asset Management Co. Ltd. grew its position in shares of Empire State Realty Trust by 9.5% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 62,921 shares of the real estate investment trust’s stock valued at $321,000 after buying an additional 5,443 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Empire State Realty Trust by 92.1% in the second quarter. Sequoia Financial Advisors LLC now owns 22,083 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 10,590 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Empire State Realty Trust by 5.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 208,900 shares of the real estate investment trust’s stock valued at $1,362,000 after buying an additional 11,000 shares during the period. 67.10% of the stock is currently owned by institutional investors and hedge funds.

About Empire State Realty Trust

Empire State Realty Trust, Inc is a publicly traded real estate investment trust that owns, manages, and operates office, retail, and multifamily properties primarily in Manhattan and the greater New York City region. The company’s portfolio includes office and retail buildings serving businesses, residents, and visitors.

Its best-known property is the Empire State Building, which includes office space, retail offerings, and the Empire State Building Observatory. The company also operates other prominent commercial properties in Manhattan, including buildings in Midtown and the surrounding business districts.

Empire State Realty Trust was established as a public REIT in 2013.