Empire State Realty Trust (NYSE:ESRT) Given a $10.00 Price Target at Evercore ISI

Evercore ISI set a $10.00 target price on Empire State Realty Trust (NYSE:ESRTGet Rating) in a research note issued to investors on Monday, Stock Target Advisor reports.

Several other research firms have also commented on ESRT. BMO Capital Markets lowered Empire State Realty Trust from a market perform rating to an underperform rating and lowered their price objective for the stock from $11.00 to $8.00 in a research report on Monday, March 7th. StockNews.com lowered Empire State Realty Trust from a hold rating to a sell rating in a research report on Saturday, May 7th.

Shares of NYSE ESRT opened at $7.14 on Monday. The business’s 50 day moving average price is $8.01 and its 200 day moving average price is $8.86. The firm has a market cap of $1.20 billion, a P/E ratio of -59.50, a P/E/G ratio of 1.12 and a beta of 0.99. Empire State Realty Trust has a 52 week low of $6.53 and a 52 week high of $12.31. The company has a quick ratio of 6.73, a current ratio of 6.73 and a debt-to-equity ratio of 1.39.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be given a $0.035 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $0.14 annualized dividend and a yield of 1.96%. Empire State Realty Trust’s dividend payout ratio is presently -116.67%.

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Empire State Realty Trust by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 23,240,809 shares of the real estate investment trust’s stock valued at $228,226,000 after buying an additional 154,374 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Empire State Realty Trust by 5.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,000,499 shares of the real estate investment trust’s stock valued at $98,205,000 after buying an additional 498,690 shares in the last quarter. Credit Suisse AG lifted its position in shares of Empire State Realty Trust by 16.9% during the 4th quarter. Credit Suisse AG now owns 7,422,822 shares of the real estate investment trust’s stock valued at $66,063,000 after buying an additional 1,073,006 shares in the last quarter. State Street Corp lifted its position in shares of Empire State Realty Trust by 15.5% during 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 buying an additional 974,740 shares in the last quarter. Finally, Equity Investment Corp lifted its position in shares of Empire State Realty Trust by 46.0% during the 1st quarter. Equity Investment Corp now owns 5,362,043 shares of the real estate investment trust’s stock valued at $52,655,000 after buying an additional 1,689,535 shares in the last quarter. Institutional investors and hedge funds own 77.78% of the company’s stock.

About Empire State Realty Trust (Get Rating)

Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the World's Most Famous Building.

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