Empire State Realty Trust (NYSE:ESRT) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Empire State Realty Trust, Inc. (NYSE:ESRT)’s share price crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred 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 traded.

Analysts Set New Price Targets

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

Empire State Realty Trust Price Performance

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

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ESRT. Fulcrum Asset Management LLP acquired a new position in shares of Empire State Realty Trust during the third quarter valued at about $125,000. Chicago Partners Investment Group LLC acquired a new stake in Empire State Realty Trust during the third quarter worth about $62,000. Sumitomo Mitsui Trust Group Inc. grew its position in Empire State Realty Trust by 12.8% during 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 in the last quarter. Vise Technologies Inc. acquired a new stake in Empire State Realty Trust during the third quarter worth about $74,000. Finally, Interchange Capital Partners LLC acquired a new stake in Empire State Realty Trust during the third quarter worth about $40,000. 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 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.