Empire State Realty Trust (NYSE:ESRT) Stock Price Passes Below Two Hundred Day Moving Average – What’s Next?

Empire State Realty Trust, Inc. (NYSE:ESRT) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.77 and traded as low as $5.36. Empire State Realty Trust shares last traded at $5.4250, with a volume of 1,014,411 shares trading hands.

Analysts Set New Price Targets

Several research firms recently issued reports on ESRT. Citigroup decreased their target price on Empire State Realty Trust from $7.00 to $5.75 and set a “neutral” rating on the stock in a research note on Wednesday, April 15th. Evercore set a $6.00 target price on Empire State Realty Trust in a research report on Monday, June 8th. Wells Fargo & Company cut their price target on shares of Empire State Realty Trust from $6.30 to $6.00 and set an “underweight” rating on the stock in a research note on Monday, June 1st. Finally, Weiss Ratings cut 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 research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Empire State Realty Trust currently has an average rating of “Sell” and an average price target of $5.92.

Empire State Realty Trust Stock Up 0.6%

The firm has a market cap of $935.43 million, a PE ratio of 20.87 and a beta of 1.35. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 1.22. The business has a 50-day moving average price of $5.48 and a two-hundred day moving average price of $5.77.

Empire State Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.035 per share. The ex-dividend date was Monday, June 15th. This represents a $0.14 annualized dividend and a yield of 2.6%. Empire State Realty Trust’s dividend payout ratio is 53.85%.

Hedge Funds Weigh In On Empire State Realty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in ESRT. M&T Bank Corp boosted its holdings in shares of Empire State Realty Trust by 11.7% in the second quarter. M&T Bank Corp now owns 12,961 shares of the real estate investment trust’s stock valued at $105,000 after acquiring an additional 1,360 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Empire State Realty Trust by 2.0% during 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 in the last quarter. Amundi lifted its position in Empire State Realty Trust by 2.0% in the first quarter. Amundi now owns 78,614 shares of the real estate investment trust’s stock valued at $585,000 after purchasing an additional 1,562 shares during the period. Van ECK Associates Corp lifted its position in Empire State Realty Trust by 4.4% in the third quarter. Van ECK Associates Corp now owns 40,169 shares of the real estate investment trust’s stock valued at $308,000 after purchasing an additional 1,707 shares during the period. Finally, Cerity Partners LLC boosted its holdings in Empire State Realty Trust by 3.0% in 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 in the last quarter. 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.