Citigroup Cuts Empire State Realty Trust (NYSE:ESRT) Price Target to $5.00

Empire State Realty Trust (NYSE:ESRT) had its price target decreased by Citigroup from $5.75 to $5.00 in a research note published on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the real estate investment trust’s stock.

ESRT has been the subject of several other reports. Evercore set a $5.50 target price on Empire State Realty Trust in a research note on Thursday, July 30th. Weiss Ratings lowered Empire State Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Finally, Wells Fargo & Company lowered their price target on Empire State Realty Trust from $6.30 to $6.00 and set an “underweight” rating for the company in a report on Monday, June 1st. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Sell” and an average target price of $5.50.

Empire State Realty Trust Trading Down 0.7%

Empire State Realty Trust stock opened at $4.84 on Wednesday. The stock has a 50-day simple moving average of $5.40 and a 200 day simple moving average of $5.62. The stock has a market capitalization of $1.37 billion, a P/E ratio of 69.22 and a beta of 1.36. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.94 and a current ratio of 1.94. Empire State Realty Trust has a 52 week low of $4.78 and a 52 week high of $8.07.

Empire State Realty Trust (NYSE:ESRT) last issued its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported ($0.15) earnings per share for the quarter. The company 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. Analysts expect that Empire State Realty Trust will post 0.77 earnings per share for the current year.

Empire State Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 15th. Empire State Realty Trust’s dividend payout ratio is presently 200.00%.

Institutional Trading of Empire State Realty Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ESRT. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Empire State Realty Trust by 204.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,155,109 shares of the real estate investment trust’s stock valued at $20,571,000 after purchasing an additional 2,118,859 shares during the last quarter. Lasalle Investment Management Securities LLC boosted its holdings in shares of Empire State Realty Trust by 64.0% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 9,058,860 shares of the real estate investment trust’s stock worth $47,106,000 after buying an additional 3,534,376 shares during the last quarter. BROOKFIELD Corp ON purchased a new position in shares of Empire State Realty Trust in the 1st quarter worth about $2,662,000. Bessemer Group Inc. grew its position in Empire State Realty Trust by 56.1% during the first quarter. Bessemer Group Inc. now owns 712,061 shares of the real estate investment trust’s stock valued at $3,703,000 after buying an additional 255,804 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC grew its position in Empire State Realty Trust by 69.6% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,166,317 shares of the real estate investment trust’s stock valued at $7,604,000 after buying an additional 478,477 shares during the period. 67.10% of the stock is owned by 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.