Empire State Realty Trust (NYSE:ESRT) Share Price Breaks Above Two Hundred Day Moving Average – What’s Next?

Empire State Realty Trust, Inc. (NYSE:ESRT)’s stock price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $5.28 and traded as high as $5.38. Empire State Realty Trust shares last traded at $5.3150, with a volume of 3,804,907 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wall Street Zen cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Weiss Ratings reissued a “sell (d)” rating on shares of Empire State Realty Trust in a research report on Friday, August 7th. Citigroup reduced their price target on shares of Empire State Realty Trust from $5.75 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Wells Fargo & Company decreased their price target on shares of Empire State Realty Trust from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Tuesday, September 1st. Finally, Evercore set a $5.00 price objective on shares of Empire State Realty Trust in a research report on Monday, September 21st. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Sell” and a consensus target price of $5.00.

Empire State Realty Trust Price Performance

The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $920.19 million, a P/E ratio of 132.91 and a beta of 1.41. The company’s 50-day simple moving average is $4.53 and its 200 day simple moving average is $5.28.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings results on Monday, November 2nd. The real estate investment trust reported $0.20 EPS for the quarter. The company had revenue of $193.05 million for the quarter. Empire State Realty Trust had a net margin of 0.30% and a return on equity of 0.13%. As a group, sell-side analysts expect that Empire State Realty Trust, Inc. will post 0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Empire State Realty Trust

Institutional investors have recently bought and sold shares of the stock. Lasalle Investment Management Securities LLC raised its position in shares of Empire State Realty Trust by 64.0% in the first quarter. Lasalle Investment Management Securities LLC now owns 9,058,860 shares of the real estate investment trust’s stock valued at $47,106,000 after purchasing an additional 3,534,376 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Empire State Realty Trust by 12.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,787,585 shares of the real estate investment trust’s stock worth $31,384,000 after buying an additional 881,649 shares during the last quarter. SummitTX Capital L.P. lifted its stake in shares of Empire State Realty Trust by 11.3% in the first quarter. SummitTX Capital L.P. now owns 1,434,267 shares of the real estate investment trust’s stock worth $7,458,000 after buying an additional 146,070 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Empire State Realty Trust by 32.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,358,330 shares of the real estate investment trust’s stock worth $7,063,000 after buying an additional 332,810 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in shares of Empire State Realty Trust by 56.1% during the 1st quarter. Bessemer Group Inc. now owns 712,061 shares of the real estate investment trust’s stock worth $3,703,000 after buying an additional 255,804 shares during the period. 67.10% of the stock is currently owned by institutional investors.

About Empire State Realty Trust

Empire State Realty Trust, Inc is a self-managed real estate investment trust that owns, manages, operates, acquires and repositions office, retail and multifamily properties in New York City and the surrounding metropolitan area. Its portfolio is concentrated in Manhattan and includes properties serving businesses, residents, retailers and visitors.

The company’s landmark asset is the Empire State Building, which it operates as a mixed-use office, retail and tourist destination. Empire State Realty Trust also manages the building’s public observatories, offering visitors views of New York City, and provides leasing and property-management services across its portfolio.

Empire State Realty Trust was formed in 2011 and became a publicly traded company in 2013.