Empire State Realty Trust (NYSE:ESRT) Reaches New 52-Week High at $11.29

Empire State Realty Trust, Inc. (NYSE:ESRT)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $11.29 and last traded at $11.15, with a volume of 1122792 shares. The stock had previously closed at $10.87.

Analysts Set New Price Targets

Several brokerages have commented on ESRT. BMO Capital Markets upped their target price on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Wells Fargo & Company upped their price objective on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Wednesday, September 11th. Finally, StockNews.com downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, July 26th.

Empire State Realty Trust Stock Performance

The stock has a market cap of $1.83 billion, a P/E ratio of 36.23, a price-to-earnings-growth ratio of 6.11 and a beta of 1.40. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.24 and a quick ratio of 3.24. The stock’s 50 day simple moving average is $10.45 and its two-hundred day simple moving average is $9.79.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.14). The company had revenue of $189.54 million during the quarter. Empire State Realty Trust had a net margin of 5.89% and a return on equity of 2.57%. During the same quarter in the prior year, the company earned $0.26 earnings per share. As a group, research analysts forecast that Empire State Realty Trust, Inc. will post 0.94 EPS for the current year.

Empire State Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.035 per share. The ex-dividend date is Monday, September 16th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.26%. Empire State Realty Trust’s payout ratio is presently 46.67%.

Institutional Investors Weigh In On Empire State Realty Trust

Several institutional investors have recently bought and sold shares of the company. Scotia Capital Inc. bought a new position in shares of Empire State Realty Trust during the 4th quarter worth approximately $123,000. Mercer Global Advisors Inc. ADV bought a new position in Empire State Realty Trust in the second quarter valued at $137,000. Allspring Global Investments Holdings LLC acquired a new stake in Empire State Realty Trust in the 1st quarter valued at $143,000. Quest Partners LLC acquired a new stake in Empire State Realty Trust in the 4th quarter valued at $157,000. Finally, QRG Capital Management Inc. boosted its stake in shares of Empire State Realty Trust by 20.5% during the 4th quarter. QRG Capital Management Inc. now owns 16,297 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 2,776 shares during the last quarter. Institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Company Profile

Empire State Realty Trust, Inc (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. The company is the recognized leader in energy efficiency and indoor environmental quality. ESRT’s flagship Empire State Building – the “World’s Most Famous Building” – includes its Observatory, Tripadvisor’s 2023 Travelers’ Choice Awards: Best of the Best the #1 attraction in the US for two consecutive years.