Empire State Realty Trust (NYSE:ESRT) Hits New 1-Year Low – What’s Next?

Empire State Realty Trust, Inc. (NYSE:ESRT)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $6.07 and last traded at $6.2450, with a volume of 982757 shares. The stock had previously closed at $6.38.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ESRT. Weiss Ratings reiterated a “hold (c-)” rating on shares of Empire State Realty Trust in a report on Monday, December 29th. Wells Fargo & Company decreased their price objective on shares of Empire State Realty Trust from $8.30 to $6.80 and set an “underweight” rating for the company in a report on Tuesday, November 25th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Empire State Realty Trust currently has an average rating of “Hold” and a consensus price target of $8.40.

Empire State Realty Trust Price Performance

The company has a debt-to-equity ratio of 1.14, a current ratio of 4.33 and a quick ratio of 4.33. The company has a fifty day moving average price of $6.61 and a 200 day moving average price of $7.14. The company has a market capitalization of $1.08 billion, a P/E ratio of 30.21 and a beta of 1.36.

Empire State Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Monday, December 15th. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 66.67%.

Institutional Trading of Empire State Realty Trust

Several hedge funds have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new position in Empire State Realty Trust during the 3rd quarter valued at about $29,000. CWM LLC boosted its position in shares of Empire State Realty Trust by 1,704.7% during the second quarter. CWM LLC now owns 8,121 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 7,671 shares during the period. Simplex Trading LLC grew its holdings in Empire State Realty Trust by 869.5% in the 2nd quarter. Simplex Trading LLC now owns 8,260 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 7,408 shares in the last quarter. Vise Technologies Inc. acquired a new stake in Empire State Realty Trust in the 4th quarter valued at approximately $71,000. Finally, Raymond James Financial Inc. acquired a new stake in Empire State Realty Trust in the 2nd quarter valued at approximately $74,000. 67.10% of the stock is currently owned by institutional investors.

About Empire State Realty Trust

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.