Wells Fargo & Company Has Lowered Expectations for Empire State Realty Trust (NYSE:ESRT) Stock Price

Empire State Realty Trust (NYSE:ESRT) had its price objective decreased by stock analysts at Wells Fargo & Company from $6.80 to $6.30 in a report issued on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 8.34% from the stock’s current price.

ESRT has been the subject of a number of other research reports. Citigroup reduced their price target on Empire State Realty Trust from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, February 19th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Empire State Realty Trust in a research note on Monday, December 29th. Finally, Evercore set a $7.00 price target on shares of Empire State Realty Trust in a report on Wednesday, February 18th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Empire State Realty Trust presently has an average rating of “Hold” and a consensus price target of $7.58.

Empire State Realty Trust Stock Down 1.1%

NYSE:ESRT traded down $0.07 during mid-day trading on Monday, hitting $5.82. The company had a trading volume of 1,547,650 shares, compared to its average volume of 1,657,224. The business has a fifty day simple moving average of $6.44 and a 200-day simple moving average of $7.04. The firm has a market capitalization of $989.67 million, a price-to-earnings ratio of 22.40 and a beta of 1.36. Empire State Realty Trust has a 1 year low of $5.71 and a 1 year high of $9.27. The company has a current ratio of 4.33, a quick ratio of 4.33 and a debt-to-equity ratio of 1.14.

Empire State Realty Trust (NYSE:ESRT) last posted its earnings results on Tuesday, February 17th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter. The business had revenue of $199.22 million during the quarter. Empire State Realty Trust had a return on equity of 2.60% and a net margin of 6.06%.Empire State Realty Trust has set its FY 2026 guidance at 0.850-0.890 EPS. Equities analysts forecast that Empire State Realty Trust will post 0.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Empire State Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd acquired a new position in shares of Empire State Realty Trust in the 3rd quarter worth $29,000. Simplex Trading LLC boosted its holdings in shares of Empire State Realty Trust by 869.5% in the second 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 during the period. CWM LLC increased its position in shares of Empire State Realty Trust by 1,704.7% in the second quarter. CWM LLC now owns 8,121 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 7,671 shares in the last quarter. DRW Securities LLC acquired a new stake in shares of Empire State Realty Trust during the fourth quarter valued at approximately $69,000. Finally, Vise Technologies Inc. purchased a new stake in shares of Empire State Realty Trust in the 4th quarter valued at approximately $71,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

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.