Empire State Realty Trust (NYSE:ESRT) Sets New 52-Week Low – What’s Next?

Empire State Realty Trust, Inc. (NYSE:ESRT) shares hit a new 52-week low on Monday . The stock traded as low as $6.36 and last traded at $6.4150, with a volume of 1050651 shares. The stock had previously closed at $6.52.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ESRT shares. Wells Fargo & Company dropped their price target on Empire State Realty Trust from $8.30 to $6.80 and set an “underweight” rating on the stock in a research report on Tuesday, November 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of Empire State Realty Trust in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Empire State Realty Trust presently has an average rating of “Hold” and an average target price of $8.40.

Empire State Realty Trust Stock Up 2.3%

The company has a quick ratio of 4.33, a current ratio of 4.33 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $1.12 billion, a PE ratio of 31.21 and a beta of 1.34. The firm’s fifty day moving average is $6.90 and its 200-day moving average is $7.40.

Empire State Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, December 15th. Empire State Realty Trust’s dividend payout ratio (DPR) is currently 66.67%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. grew 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 purchasing an additional 1,153,446 shares during the period. Resolution Capital Ltd purchased a new stake in Empire State Realty Trust during the second quarter worth about $43,706,000. Principal Financial Group Inc. grew its position in Empire State Realty Trust by 59.6% during the third quarter. Principal Financial Group Inc. now owns 3,813,895 shares of the real estate investment trust’s stock worth $29,214,000 after buying an additional 1,424,066 shares during the period. Geode Capital Management LLC increased its holdings in Empire State Realty Trust by 2.3% in the second quarter. Geode Capital Management LLC now owns 3,550,460 shares of the real estate investment trust’s stock valued at $28,727,000 after buying an additional 79,525 shares in the last quarter. Finally, Centersquare Investment Management LLC lifted its position in shares of Empire State Realty Trust by 22.0% during the 3rd quarter. Centersquare Investment Management LLC now owns 3,475,569 shares of the real estate investment trust’s stock valued at $26,623,000 after acquiring an additional 627,210 shares during the period. Hedge funds and other institutional investors own 67.10% of the company’s stock.

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.