Empire State Realty Trust (NYSE:ESRT) Reaches New 12-Month Low Following Analyst Downgrade

Empire State Realty Trust, Inc. (NYSE:ESRT) shares hit a new 52-week low during trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $6.80 to $6.30. Wells Fargo & Company currently has an underweight rating on the stock. Empire State Realty Trust traded as low as $5.71 and last traded at $5.7650, with a volume of 2831253 shares trading hands. The stock had previously closed at $5.88.

Other equities analysts also recently issued reports about the stock. Evercore set a $7.00 price objective on shares of Empire State Realty Trust in a research note on Wednesday, February 18th. Weiss Ratings reissued a “hold (c-)” rating on shares of Empire State Realty Trust in a research report on Monday, December 29th. Finally, Citigroup decreased their price target on Empire State Realty Trust from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.58.

Institutional Trading of Empire State Realty Trust

Several institutional investors and hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. boosted its stake in shares of Empire State Realty Trust by 10.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 11,934,145 shares of the real estate investment trust’s stock worth $91,318,000 after acquiring an additional 1,153,446 shares during the period. Cohen & Steers Inc. lifted its holdings in Empire State Realty Trust by 456.9% during the 4th quarter. Cohen & Steers Inc. now owns 11,128,303 shares of the real estate investment trust’s stock valued at $72,557,000 after purchasing an additional 9,129,959 shares during the last quarter. Lasalle Investment Management Securities LLC boosted its position in Empire State Realty Trust by 264.1% during the fourth quarter. Lasalle Investment Management Securities LLC now owns 5,524,484 shares of the real estate investment trust’s stock worth $36,020,000 after purchasing an additional 4,007,189 shares during the period. Resolution Capital Ltd acquired a new position in shares of Empire State Realty Trust in the second quarter valued at $43,706,000. Finally, Principal Financial Group Inc. raised its position in shares of Empire State Realty Trust by 59.6% in the third quarter. Principal Financial Group Inc. now owns 3,813,895 shares of the real estate investment trust’s stock valued at $29,214,000 after purchasing an additional 1,424,066 shares during the period. Institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Price Performance

The company’s 50-day moving average price is $6.41 and its two-hundred day moving average price is $7.01. The company has a debt-to-equity ratio of 1.14, a current ratio of 4.33 and a quick ratio of 4.33. The company has a market capitalization of $980.29 million, a P/E ratio of 22.15 and a beta of 1.36.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings results on Tuesday, February 17th. The real estate investment trust reported $0.23 earnings per share for the quarter. The firm had revenue of $199.22 million for the quarter. Empire State Realty Trust had a net margin of 6.06% and a return on equity of 2.60%. Empire State Realty Trust has set its FY 2026 guidance at 0.850-0.890 EPS. As a group, sell-side analysts expect that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.

Empire State Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, March 13th. Empire State Realty Trust’s dividend payout ratio is currently 53.85%.

Empire State Realty Trust Company Profile

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.