Citigroup Cuts Empire State Realty Trust (NYSE:ESRT) Price Target to $5.75

Empire State Realty Trust (NYSE:ESRT) had its target price cut by Citigroup from $7.00 to $5.75 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Other research analysts have also recently issued reports about the company. Weiss Ratings cut Empire State Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, March 4th. Evercore set a $7.00 price objective on Empire State Realty Trust in a research report on Wednesday, February 18th. Finally, Wells Fargo & Company reduced their price objective on Empire State Realty Trust from $6.80 to $6.30 and set an “underweight” rating for the company in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Sell” and an average target price of $6.35.

Empire State Realty Trust Stock Up 0.5%

NYSE:ESRT opened at $5.49 on Wednesday. Empire State Realty Trust has a 1 year low of $4.87 and a 1 year high of $8.76. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.22. The stock has a market cap of $939.25 million, a price-to-earnings ratio of 21.10 and a beta of 1.38. The stock has a 50-day moving average price of $5.55 and a two-hundred day moving average price of $6.47.

Empire State Realty Trust (NYSE:ESRT) last posted its earnings results on Tuesday, February 17th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter. Empire State Realty Trust had a return on equity of 2.59% and a net margin of 6.06%.The firm had revenue of $199.22 million during the quarter. Empire State Realty Trust has set its FY 2026 guidance at 0.850-0.890 EPS. As a group, equities analysts expect that Empire State Realty Trust will post 0.88 earnings per share for the current year.

Empire State Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, March 13th. Empire State Realty Trust’s dividend payout ratio is currently 53.85%.

Institutional Trading of Empire State Realty Trust

Several institutional investors and hedge funds have recently bought and sold shares of ESRT. Cohen & Steers Inc. raised its holdings in Empire State Realty Trust by 456.9% during the fourth quarter. Cohen & Steers Inc. now owns 11,128,303 shares of the real estate investment trust’s stock worth $72,557,000 after acquiring an additional 9,129,959 shares in the last quarter. Resolution Capital Ltd bought a new stake in Empire State Realty Trust during the second quarter worth about $43,706,000. Lasalle Investment Management Securities LLC raised its holdings in Empire State Realty Trust by 264.1% during the fourth quarter. Lasalle Investment Management Securities LLC now owns 5,524,484 shares of the real estate investment trust’s stock worth $36,020,000 after acquiring an additional 4,007,189 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Empire State Realty Trust by 204.5% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,155,109 shares of the real estate investment trust’s stock worth $20,571,000 after acquiring an additional 2,118,859 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Empire State Realty Trust by 137.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,105,313 shares of the real estate investment trust’s stock worth $24,284,000 after acquiring an additional 1,798,850 shares in the last quarter. Institutional investors own 67.10% of the company’s stock.

About Empire State Realty Trust

Empire State Realty Trust, Inc is a publicly traded real estate investment trust (REIT) focused on the ownership, management and operation of office and retail properties. The company’s portfolio features the iconic Empire State Building in Midtown Manhattan, alongside a diversified collection of commercial assets situated throughout Manhattan, Brooklyn and select markets in Upstate New York. By offering premium office space and street-level retail, Empire State Realty Trust positions itself as a landlord of choice for corporate tenants, retailers and experiential brands seeking high-profile addresses.

Established through a spin-off of assets in early 2013, Empire State Realty Trust consolidated a mix of landmark and Class A properties, creating scale in one of the world’s most competitive real estate markets.