Empire State Realty Trust (NYSE: ESRT) upgraded to “C-” at TheStreet



TheStreet improved the shares of Empire State Realty Trust (NYSE: ESRTGet a rating) from a d+ rating to a c- rating in a research note sent to investors on Monday, TheStreetRatingsTable reports.

A number of other research companies also commented on the ESRT. StockNews.com upgraded Empire State Realty Trust from a sell rating to a hold rating in a Friday, July 29 research note. BMO Capital Markets upgraded Empire State Realty Trust from an underperforming rating to a market performing rating and raised its price target for the company from $7.50 to $8.00 in a research note from the Thursday July 14. Wells Fargo & Company cut its price target on Empire State Realty Trust from $8.00 to $5.50 and set an underweight rating on the stock in a Friday July 1 research note. Wolfe Research downgraded Empire State Realty Trust from an outperform rating to a peer performance rating in a research note Monday. Finally, Evercore ISI set a price target of $10.00 on Empire State Realty Trust in a Monday, June 20 research note. Two investment analysts gave the stock a sell rating, three gave the company a hold rating and one gave the company a buy rating. According to MarketBeat.com, Empire State Realty Trust currently has an average rating of Hold and a consensus price target of $7.88.

Empire State Realty Trust shares down 2.8%

Empire State Realty Trust Stocks opened at $7.86 on Monday. The company has a debt ratio of 1.39, a quick ratio of 6.73 and a current ratio of 6.73. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 157.20, a growth price-to-earnings ratio of 1.25, and a beta of 1.08. Empire State Realty Trust has a fifty-two week low of $6.53 and a fifty-two week high of $11.11. The stock’s fifty-day moving average is $7.46 and its two-hundred-day moving average is $8.50.

Empire State Realty Trust announces dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30. Investors of record on Wednesday, June 15 received a dividend of $0.035 per share. The ex-dividend date was Tuesday, June 14. This represents an annualized dividend of $0.14 and a yield of 1.78%. Empire State Realty Trust’s dividend payout ratio (DPR) is currently 280.00%.

Hedge funds weigh on Empire State Realty Trust

A number of large investors have recently changed their stake in the company. Van ECK Associates Corp increased its stake in Empire State Realty Trust shares by 15.1% in the first quarter. Van ECK Associates Corp now owns 12,807 shares of the real estate investment trust worth $126,000 after purchasing an additional 1,677 shares during the period. Teacher Retirement System of Texas increased its equity stake in Empire State Realty Trust by 6.7% during the first quarter. Teacher Retirement System of Texas now owns 30,310 shares of the real estate investment trust valued at $298,000 after purchasing 1,908 additional shares during the period. Bank of Montreal Can increased its equity stake in Empire State Realty Trust by 7.6% in Q1. Bank of Montreal Can now owns 27,846 shares of the real estate investment trust valued at $276,000 after purchasing an additional 1,955 shares during the period. Benin Management CORP increased its stake in Empire State Realty Trust shares by 2.6% during the 2nd quarter. Benin Management CORP now owns 78,500 shares of the real estate investment trust worth $552,000 after purchasing an additional 2,000 shares during the period. Finally, US Bancorp DE increased its stake in Empire State Realty Trust shares by 21.9% during the second quarter. US Bancorp DE now owns 11,267 shares of the real estate investment trust valued at $79,000 after purchasing an additional 2,024 shares during the period. 77.78% of the shares are currently held by hedge funds and other institutional investors.

Empire State Realty Trust Company Profile

(Get a 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 metropolitan area of New York, including the Empire State Building, the most famous building in the world.

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