Shares of Empire State Realty Trust Inc (NYSE:ESRT) have been assigned an average rating of “Hold” from the ten research firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $20.00.

Several equities analysts have weighed in on ESRT shares. Bank of America downgraded Empire State Realty Trust from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research report on Tuesday, August 7th. Zacks Investment Research raised Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, July 30th. Finally, BTIG Research downgraded Empire State Realty Trust from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a research report on Tuesday, July 31st.

Shares of NYSE:ESRT opened at $16.15 on Wednesday. The stock has a market cap of $2.70 billion, a P/E ratio of 16.82, a price-to-earnings-growth ratio of 6.39 and a beta of 0.92. The company has a debt-to-equity ratio of 0.97, a current ratio of 7.10 and a quick ratio of 7.10. Empire State Realty Trust has a 12-month low of $15.61 and a 12-month high of $20.93.

Empire State Realty Trust (NYSE:ESRT) last released its earnings results on Wednesday, July 25th. The real estate investment trust reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $124.04 million during the quarter, compared to the consensus estimate of $122.58 million. Empire State Realty Trust had a return on equity of 4.62% and a net margin of 12.72%. Empire State Realty Trust’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. On average, sell-side analysts forecast that Empire State Realty Trust will post 0.89 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date was Thursday, September 13th. Empire State Realty Trust’s dividend payout ratio is presently 43.75%.

In related news, CFO David A. Karp acquired 4,500 shares of the stock in a transaction dated Monday, July 30th. The stock was acquired at an average cost of $16.19 per share, with a total value of $72,855.00. Following the completion of the transaction, the chief financial officer now owns 5,500 shares in the company, valued at approximately $89,045. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 11.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Cornerstone Wealth Management LLC purchased a new stake in Empire State Realty Trust during the second quarter worth approximately $200,000. Nisa Investment Advisors LLC purchased a new stake in Empire State Realty Trust during the second quarter worth approximately $137,000. Eqis Capital Management Inc. purchased a new stake in Empire State Realty Trust during the second quarter worth approximately $172,000. Brown Advisory Inc. purchased a new stake in Empire State Realty Trust during the first quarter worth approximately $177,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Empire State Realty Trust during the second quarter worth approximately $184,000. 73.38% of the stock is owned by institutional investors and hedge funds.

About Empire State Realty Trust

Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world's most famous building.

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Analyst Recommendations for Empire State Realty Trust (NYSE:ESRT)

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