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:ESRT – Get Rating) in a research note issued to investors on Monday morning, Stock Target Advisor reports.

A number of other analysts have also issued reports on the stock. BMO Capital Markets lowered shares of Empire State Realty Trust from a market perform rating to an underperform rating and lowered their target price for the company from $11.00 to $8.00 in a research note on Monday, March 7th. StockNews.com lowered shares of Empire State Realty Trust from a hold rating to a sell rating in a research note on Saturday, May 7th.

Shares of ESRT opened at $7.14 on Monday. The firm has a market capitalization 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 12-month low of $6.53 and a 12-month high of $12.31. The company has a current ratio of 6.73, a quick ratio of 6.73 and a debt-to-equity ratio of 1.39. The firm has a fifty day moving average price of $8.01 and a 200-day moving average price of $8.86.

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

A number of large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its stake in Empire State Realty Trust by 30.4% in the first quarter. Bank of America Corp DE now owns 1,664,413 shares of the real estate investment trust’s stock worth $16,344,000 after acquiring an additional 387,609 shares during the period. Meiji Yasuda Asset Management Co Ltd. bought a new position in Empire State Realty Trust in the first quarter worth about $246,000. Royal Bank of Canada raised its holdings in Empire State Realty Trust by 34.7% in the first quarter. Royal Bank of Canada now owns 182,348 shares of the real estate investment trust’s stock worth $1,791,000 after purchasing an additional 46,935 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Empire State Realty Trust in the first quarter worth about $109,000. Finally, First Republic Investment Management Inc. raised its holdings in Empire State Realty Trust by 37.8% in the first quarter. First Republic Investment Management Inc. now owns 124,573 shares of the real estate investment trust’s stock worth $1,223,000 after purchasing an additional 34,162 shares in the last quarter. 77.78% of the stock is owned by institutional investors.

Empire State Realty Trust Company Profile (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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