Empire State Realty Trust Inc. (NYSE:ESRT) shares traded 1.75% higher at $8.13 on Wall Street last session.
In accordance with the data, 7 analysts cover Empire State Realty Trust Inc. (NYSE:ESRT). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $8.50 and a low of $6.00, we find $8.00. Given the previous closing price of $7.99, this indicates a potential upside of 0.13 percent. ESRT stock price is now 25.33% away from the 50-day moving average and 17.69% away from the 200-day moving average. The market capitalization of the company currently stands at $1.25B.
It has been rated a hold by 3 analysts and a buy by 3. Brokers who have rated the stock have averaged $7.55 as their price target over the next twelve months.
With the price target enhanced from $7 to $8, Evercore ISI Upgraded its rating from In-line to Outperform for Empire State Realty Trust Inc. (NYSE: ESRT).
A total of 0.05% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ESRT stock. A new stake in Empire State Realty Trust Inc. shares was purchased by FOUNDRY PARTNERS, LLC during the first quarter worth $5,262,000. POINT72 ASSET MANAGEMENT, L.P. invested $3,132,000 in shares of ESRT during the first quarter. In the first quarter, VIDENT INVESTMENT ADVISORY, LLC acquired a new stake in Empire State Realty Trust Inc. valued at approximately $2,799,000. NOMURA HOLDINGS INC acquired a new stake in ESRT for approximately $1,301,000. BBJS FINANCIAL ADVISORS, LLC purchased a new stake in ESRT valued at around $851,000 in the second quarter. In total, there are 280 active investors with 100.65% ownership of the company’s stock.
Empire State Realty Trust Inc. (NYSE: ESRT) opened at $7.97 on Tuesday. During the past 12 months, Empire State Realty Trust Inc. has had a low of $5.39 and a high of $8.68. According to the stock market information, the enterprise value for the company is $3.30B, which is based on a 25.81 price-to-earnings ratio, a 14.34 price-to-earnings-growth ratio, and a beta of 1.25. The fifty day moving average price for ESRT is $6.53 and a two-hundred day moving average price translates $6.91 for the stock.
The latest earnings results from Empire State Realty Trust Inc. (NYSE: ESRT) was released for Mar, 2023. According to the REIT – Diversified Company, earnings per share came in at $0.03, missing analysts’ expectations of $0.06 by -0.03. This compares to -$0.07 EPS in the same period last year. The company reported revenue of $164.62 million for the quarter, compared to $164.03 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.36 percent. For the current quarter, analysts expect ESRT to generate $181.27M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/30/2023. Investors who held shares on 06/15/2023 were paid a $0.035 dividend. On an annualized basis, this represents a $0.14 dividend and a 1.72% percent yield. There was an ex-dividend date of 06/14/2023 for this dividend. In terms of dividend payout ratio, ESRT is presently at 63.41%.
Empire State Realty Trust Inc.(ESRT) Company Profile
Empire State Realty Trust, Inc. (NYSE: ESRT) is a REIT that owns and manages office, retail and multifamily assets in Manhattan and the greater New York metropolitan area. ESRT owns the iconic Empire State Building the World’s Most Famous Building and the newly reimagined Empire State Building Observatory that was named #1 attraction in the US, and #3 in the world, in Tripadvisor’s 2022 Travelers’ Choice Awards: Best of the Best. The company is a leader in healthy buildings, energy-efficiency, and indoor environmental quality and has the lowest greenhouse gas emissions per square foot of any publicly traded REIT portfolio in New York City. As of March 31, 2023, ESRT’s portfolio is comprised of approximately 8.9 million rentable square feet of office space, 718,000 rentable square feet of retail space and 721 residential units across three multifamily properties.
