Empire State Realty Trust (NYSE:ESRT) Hits New 52-Week Low – What’s Next?

Empire State Realty Trust, Inc. (NYSE:ESRT) reached a new 52-week low on Thursday . The stock traded as low as $6.56 and last traded at $6.5840, with a volume of 1218802 shares traded. The stock had previously closed at $6.76.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ESRT shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Empire State Realty Trust in a research note on Monday. Wall Street Zen raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 23rd. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $9.15.

Empire State Realty Trust Stock Up 1.5%

The company has a market capitalization of $1.14 billion, a P/E ratio of 31.76 and a beta of 1.76. The company has a 50-day moving average of $7.44 and a two-hundred day moving average of $7.67. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 1.15.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd bought a new stake in Empire State Realty Trust in the third quarter worth $29,000. Quantbot Technologies LP purchased a new stake in Empire State Realty Trust during the 1st quarter valued at about $37,000. CWM LLC increased its stake in Empire State Realty Trust by 1,704.7% during the 2nd quarter. CWM LLC now owns 8,121 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 7,671 shares in the last quarter. Simplex Trading LLC raised its holdings in Empire State Realty Trust by 869.5% in the second quarter. Simplex Trading LLC now owns 8,260 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 7,408 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Empire State Realty Trust in the second quarter worth approximately $74,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

About Empire State Realty Trust

Empire State Realty Trust, Inc (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. The company is the recognized leader in energy efficiency and indoor environmental quality. ESRT’s flagship Empire State Building – the “World’s Most Famous Building” – includes its Observatory, Tripadvisor’s 2023 Travelers’ Choice Awards: Best of the Best the #1 attraction in the US for two consecutive years.