Empire State Realty Trust (NYSE:ESRT) Shares Gap Down – Should You Sell?

Shares of Empire State Realty Trust, Inc. (NYSE:ESRT) gapped down before the market opened on Thursday . The stock had previously closed at $5.80, but opened at $5.22. Empire State Realty Trust shares last traded at $5.1150, with a volume of 372,841 shares.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ESRT. Evercore set a $5.50 target price on Empire State Realty Trust in a research note on Thursday. Citigroup reduced their price target on shares of Empire State Realty Trust from $7.00 to $5.75 and set a “neutral” rating on the stock in a research report on Wednesday, April 15th. Wells Fargo & Company decreased their price objective on shares of Empire State Realty Trust from $6.30 to $6.00 and set an “underweight” rating on the stock in a report on Monday, June 1st. Finally, Weiss Ratings cut shares of Empire State Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Empire State Realty Trust presently has a consensus rating of “Sell” and a consensus target price of $5.75.

Empire State Realty Trust Stock Performance

The firm has a market cap of $871.63 million, a P/E ratio of 72.22 and a beta of 1.35. 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 stock’s 50-day moving average is $5.47 and its 200 day moving average is $5.67.

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

Empire State Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Monday, June 15th. Empire State Realty Trust’s dividend payout ratio is currently 53.85%.

Institutional Investors Weigh In On Empire State Realty Trust

Several large investors have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new stake in Empire State Realty Trust in the 2nd quarter valued at about $74,000. DRW Securities LLC bought a new stake in Empire State Realty Trust in the fourth quarter valued at approximately $69,000. Vise Technologies Inc. bought a new stake in Empire State Realty Trust in the fourth quarter valued at approximately $71,000. Royal Bank of Canada lifted its position in shares of Empire State Realty Trust by 86.1% in the first quarter. Royal Bank of Canada now owns 11,078 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 5,124 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec lifted its position in shares of Empire State Realty Trust by 29.1% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 11,180 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 2,523 shares during the last quarter. Institutional investors and hedge funds 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.