Empire State Realty Trust (NYSE:ESRT) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Empire State Realty Trust, Inc. (NYSE:ESRT) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.82 and traded as low as $5.43. Empire State Realty Trust shares last traded at $5.5050, with a volume of 1,954,508 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company dropped their price target on Empire State Realty Trust from $6.30 to $6.00 and set an “underweight” rating on the stock in a research report on Monday, June 1st. Evercore set a $6.00 price objective on Empire State Realty Trust in a report on Monday, June 8th. Citigroup lowered 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. Finally, Weiss Ratings downgraded shares of Empire State Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Sell” and an average price target of $5.92.

Empire State Realty Trust Stock Performance

The business has a 50-day moving average of $5.48 and a two-hundred day moving average of $5.82. The company has a market cap of $949.23 million, a P/E ratio of 21.17 and a beta of 1.35. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.94 and a quick ratio of 1.94.

Empire State Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, June 15th. Empire State Realty Trust’s dividend payout ratio is presently 53.85%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. M&T Bank Corp raised its stake in shares of 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 worth $105,000 after acquiring an additional 1,360 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Empire State Realty Trust by 2.0% in the second quarter. The Manufacturers Life Insurance Company now owns 70,992 shares of the real estate investment trust’s stock worth $574,000 after purchasing an additional 1,418 shares during the last quarter. Amundi increased its position in shares of Empire State Realty Trust by 2.0% during the first quarter. Amundi now owns 78,614 shares of the real estate investment trust’s stock worth $585,000 after purchasing an additional 1,562 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Empire State Realty Trust by 4.4% during 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 lifted its holdings in shares of Empire State Realty Trust by 3.0% during the 2nd quarter. Cerity Partners LLC now owns 64,449 shares of the real estate investment trust’s stock valued at $521,000 after purchasing an additional 1,896 shares during the last quarter. Hedge funds and other institutional investors 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.