Empire State Realty Trust (NYSE:ESRT) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of Empire State Realty Trust (NYSE:ESRTFree Report) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

Separately, Evercore ISI cut shares of Empire State Realty Trust from an outperform rating to an in-line rating and set a $9.00 price target for the company. in a research note on Monday, November 27th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $8.33.

Read Our Latest Stock Report on Empire State Realty Trust

Empire State Realty Trust Stock Down 3.3 %

NYSE ESRT opened at $9.81 on Wednesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 7.04 and a current ratio of 7.04. The firm has a 50-day simple moving average of $9.86 and a 200 day simple moving average of $9.14. Empire State Realty Trust has a twelve month low of $5.39 and a twelve month high of $10.32. The stock has a market cap of $1.61 billion, a PE ratio of 31.65, a PEG ratio of 3.68 and a beta of 1.30.

Empire State Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 15th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Thursday, March 14th. Empire State Realty Trust’s dividend payout ratio is presently 45.16%.

Hedge Funds Weigh In On Empire State Realty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in ESRT. Nuveen Asset Management LLC boosted its position in shares of Empire State Realty Trust by 252.7% during the second quarter. Nuveen Asset Management LLC now owns 1,961,519 shares of the real estate investment trust’s stock worth $14,692,000 after purchasing an additional 1,405,307 shares in the last quarter. Norges Bank bought a new stake in Empire State Realty Trust in the 4th quarter valued at $9,268,000. Balyasny Asset Management LLC lifted its position in Empire State Realty Trust by 711.3% in the 3rd quarter. Balyasny Asset Management LLC now owns 1,416,134 shares of the real estate investment trust’s stock valued at $9,290,000 after acquiring an additional 1,241,584 shares in the last quarter. State Street Corp lifted its position in Empire State Realty Trust by 15.5% in the 1st quarter. State Street Corp now owns 7,256,222 shares of the real estate investment trust’s stock valued at $71,256,000 after acquiring an additional 974,740 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Empire State Realty Trust by 247.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,336,800 shares of the real estate investment trust’s stock valued at $10,013,000 after acquiring an additional 951,500 shares in the last quarter. 80.44% of the stock is owned by institutional investors.

About Empire State Realty Trust

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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.

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