Wells Fargo & Company Cuts Empire State Realty Trust (NYSE:ESRT) Price Target to $6.30

Empire State Realty Trust (NYSE:ESRT) had its price objective dropped by stock analysts at Wells Fargo & Company from $6.80 to $6.30 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 8.34% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Citigroup lowered their target price on shares of Empire State Realty Trust from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, February 19th. Weiss Ratings reissued a “hold (c-)” rating on shares of Empire State Realty Trust in a report on Monday, December 29th. Finally, Evercore set a $7.00 target price on Empire State Realty Trust in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.58.

Empire State Realty Trust Stock Down 1.1%

Empire State Realty Trust stock traded down $0.07 during trading hours on Monday, hitting $5.82. The company had a trading volume of 1,547,650 shares, compared to its average volume of 1,657,224. Empire State Realty Trust has a fifty-two week low of $5.71 and a fifty-two week high of $9.27. The company has a debt-to-equity ratio of 1.14, a current ratio of 4.33 and a quick ratio of 4.33. The firm has a market capitalization of $989.67 million, a P/E ratio of 22.40 and a beta of 1.36. The firm’s fifty day moving average is $6.44 and its 200-day moving average is $7.04.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Tuesday, February 17th. The real estate investment trust reported $0.23 earnings per share for the quarter. Empire State Realty Trust had a net margin of 6.06% and a return on equity of 2.60%. The business had revenue of $199.22 million for the quarter. Empire State Realty Trust has set its FY 2026 guidance at 0.850-0.890 EPS. On average, research analysts forecast that Empire State Realty Trust will post 0.88 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Alpine Global Management LLC bought a new stake in shares of Empire State Realty Trust in the 4th quarter worth approximately $182,000. Invesco Ltd. grew its position in Empire State Realty Trust by 2.4% during the 4th quarter. Invesco Ltd. now owns 449,186 shares of the real estate investment trust’s stock worth $2,929,000 after acquiring an additional 10,601 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of Empire State Realty Trust by 9.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 88,949 shares of the real estate investment trust’s stock valued at $580,000 after buying an additional 7,315 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Empire State Realty Trust in the fourth quarter worth about $1,483,000. Finally, SummitTX Capital L.P. raised its position in Empire State Realty Trust by 32.0% in the 4th quarter. SummitTX Capital L.P. now owns 1,288,197 shares of the real estate investment trust’s stock worth $8,399,000 after purchasing an additional 312,143 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.