Empire State Realty Trust (NYSE:ESRT) Given New $5.00 Price Target at Citigroup

Empire State Realty Trust (NYSE:ESRT) had its target price cut by analysts at Citigroup from $5.75 to $5.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s price target would suggest a potential upside of 2.56% from the stock’s current price.

A number of other equities research analysts also recently issued reports on ESRT. Wells Fargo & Company reduced their price target on shares of Empire State Realty Trust from $6.30 to $6.00 and set an “underweight” rating for the company in a research report on Monday, June 1st. Weiss Ratings cut Empire State Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Finally, Evercore set a $5.50 price objective on Empire State Realty Trust in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Sell” and an average price target of $5.50.

Empire State Realty Trust Stock Performance

NYSE ESRT traded down $0.07 during trading on Wednesday, reaching $4.88. The company’s stock had a trading volume of 1,148,457 shares, compared to its average volume of 1,827,113. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.94 and a current ratio of 1.94. The firm has a market cap of $840.60 million, a price-to-earnings ratio of 69.65 and a beta of 1.36. Empire State Realty Trust has a twelve month low of $4.78 and a twelve month high of $8.07. The business’s fifty day moving average price is $5.45 and its 200-day moving average price is $5.64.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported ($0.15) earnings per share for the quarter. Empire State Realty Trust had a net margin of 0.93% and a return on equity of 0.40%. The firm had revenue of $165.17 million during the quarter. Empire State Realty Trust has set its FY 2026 guidance at 0.750-0.790 EPS. As a group, analysts anticipate that Empire State Realty Trust will post 0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Empire State Realty Trust

Hedge funds have recently modified their holdings of the company. Amundi raised its position in shares of Empire State Realty Trust by 2.0% in the first quarter. Amundi now owns 78,614 shares of the real estate investment trust’s stock valued at $585,000 after buying an additional 1,562 shares during the last quarter. AQR Capital Management LLC grew its stake in Empire State Realty Trust by 35.9% in the 1st quarter. AQR Capital Management LLC now owns 26,800 shares of the real estate investment trust’s stock worth $209,000 after acquiring an additional 7,079 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Empire State Realty Trust by 5.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,552 shares of the real estate investment trust’s stock worth $638,000 after acquiring an additional 4,535 shares during the period. Goldman Sachs Group Inc. raised its holdings in Empire State Realty Trust by 137.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,105,313 shares of the real estate investment trust’s stock valued at $24,284,000 after acquiring an additional 1,798,850 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Empire State Realty Trust by 9.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,134,086 shares of the real estate investment trust’s stock worth $8,869,000 after purchasing an additional 98,148 shares during the period. 67.10% of the stock is owned by institutional investors and hedge funds.

Empire State Realty Trust Company Profile

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.