Empire State Realty Trust (NYSE:ESRT) Shares Gap Down – Here’s Why

Shares of Empire State Realty Trust, Inc. (NYSE:ESRT) gapped down prior to trading 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.

Wall Street Analyst Weigh In

Several analysts have weighed in on ESRT shares. Weiss Ratings downgraded Empire State Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Citigroup cut their price objective on shares of Empire State Realty Trust from $7.00 to $5.75 and set a “neutral” rating on the stock in a research note on Wednesday, April 15th. Wells Fargo & Company decreased their target price 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. Finally, Evercore set a $5.50 target price on shares of Empire State Realty Trust in a research note on Thursday. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell” and a consensus price target of $5.75.

Empire State Realty Trust Trading Down 14.6%

The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 1.22. The firm has a 50-day moving average price of $5.50 and a 200-day moving average price of $5.68. The company has a market capitalization of $854.39 million, a price-to-earnings ratio of 19.02 and a beta of 1.35.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported ($0.15) earnings per share for the quarter. The firm had revenue of $165.17 million during the quarter. Empire State Realty Trust had a net margin of 5.09% and a return on equity of 2.19%. Empire State Realty Trust has set its FY 2026 guidance at 0.750-0.790 EPS.

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 given a dividend of $0.035 per share. The ex-dividend date was Monday, June 15th. This represents a $0.14 annualized dividend and a dividend yield of 2.8%. Empire State Realty Trust’s dividend payout ratio (DPR) is 53.85%.

Hedge Funds Weigh In On Empire State Realty Trust

Several hedge funds have recently made changes to their positions in the business. M&T Bank Corp raised its holdings in shares of Empire State Realty Trust by 11.7% in the 2nd quarter. M&T Bank Corp now owns 12,961 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 1,360 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Empire State Realty Trust by 2.0% during the second quarter. The Manufacturers Life Insurance Company now owns 70,992 shares of the real estate investment trust’s stock valued at $574,000 after purchasing an additional 1,418 shares during the last quarter. Amundi boosted its holdings in Empire State Realty Trust by 2.0% during the first quarter. Amundi now owns 78,614 shares of the real estate investment trust’s stock worth $585,000 after buying an additional 1,562 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Empire State Realty Trust by 4.4% during the third quarter. Van ECK Associates Corp now owns 40,169 shares of the real estate investment trust’s stock worth $308,000 after buying an additional 1,707 shares in the last quarter. Finally, Cerity Partners LLC grew its position in Empire State Realty Trust by 3.0% in the second quarter. Cerity Partners LLC now owns 64,449 shares of the real estate investment trust’s stock worth $521,000 after buying an additional 1,896 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.