Empire State Realty Trust (NYSE:ESRT) Reaches New 1-Year Low – Time to Sell?

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

Wall Street Analysts Forecast Growth

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

Empire State Realty Trust Price Performance

The company has a market cap of $1.12 billion, a price-to-earnings ratio of 31.35 and a beta of 1.76. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 1.15. The business has a 50-day moving average price of $7.49 and a 200 day moving average price of $7.68.

Hedge Funds Weigh In On Empire State Realty Trust

Institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd purchased a new stake in Empire State Realty Trust during the third quarter valued at about $29,000. Quantbot Technologies LP purchased a new stake in shares of Empire State Realty Trust in the 1st quarter valued at approximately $37,000. CWM LLC lifted its position in shares of Empire State Realty Trust by 1,704.7% in the 2nd quarter. CWM LLC now owns 8,121 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 7,671 shares in the last quarter. Simplex Trading LLC boosted its stake in Empire State Realty Trust by 869.5% in the 2nd quarter. Simplex Trading LLC now owns 8,260 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 7,408 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Empire State Realty Trust during the 2nd 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.