Empire State Realty Trust Inc. [NYSE: ESRT] loss -0.63% on the last trading session, reaching $6.30 price per share at the time. The company report on August 27, 2020 that Empire State Realty Trust, Inc. Announces Dividend Suspension for Third and Fourth Quarters of 2020 and Provides Business Update.
Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company” or “ESRT”), a leading real estate investment trust with office and retail properties in Manhattan and the greater New York metropolitan area, today announced its decision to suspend its third and fourth quarter dividends to holders of the Company’s Class A common stock and Class B common stock and to holders of Empire State Realty OP, L.P.’s (“ESRO”) Series ES, Series 250 and Series 60 operating partnership units (NYSE Arca: ESBA, FISK and OGCP, respectively) and Series PR operating partnership units.
ESRT expects to have no taxable income in 2020, and therefore no requirement to pay any dividend on its common stock in either the third or fourth quarter of 2020. The Company and its Board believe that payment of a dividend is currently not the highest and best use of its balance sheet.
Empire State Realty Trust Inc. represents 175.43 million in outstanding shares, while the company has a total market value of $1.08 billion with the latest information. ESRT stock price has been found in the range of $6.22 to $6.41.
If compared to the average trading volume of 2.70M shares, ESRT reached a trading volume of 2352278 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Empire State Realty Trust Inc. [ESRT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ESRT shares is $9.32 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ESRT stock is a recommendation set at 3.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BMO Capital Markets have made an estimate for Empire State Realty Trust Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on August 28, 2020. While these analysts kept the previous recommendation, Citigroup raised their target price from $15 to $7.50. The new note on the price target was released on April 07, 2020, representing the official price target for Empire State Realty Trust Inc. stock. Previously, the target price had yet another drop from $14 to $9, while BMO Capital Markets kept a Underperform rating on ESRT stock.
The Average True Range (ATR) for Empire State Realty Trust Inc. is set at 0.24, with the Price to Sales ratio for ESRT stock in the period of the last 12 months amounting to 1.55. The Price to Book ratio for the last quarter was 1.02, with the Price to Cash per share for the same quarter was set at 5.08.
Trading performance analysis for ESRT stock
Empire State Realty Trust Inc. [ESRT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.78. With this latest performance, ESRT shares dropped by -4.55% in over the last four-week period, additionally sinking by -48.28% over the last 6 months – not to mention a drop of -55.19% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ESRT stock in for the last two-week period is set at 41.97, with the RSI for the last a single of trading hit 42.15, and the three-weeks RSI is set at 43.89 for Empire State Realty Trust Inc. [ESRT]. The present Moving Average for the last 50 days of trading for this stock 6.63, while it was recorded at 6.40 for the last single week of trading, and 9.87 for the last 200 days.
Empire State Realty Trust Inc. [ESRT]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Empire State Realty Trust Inc. [ESRT] shares currently have an operating margin of +10.44 and a Gross Margin at +28.60. Empire State Realty Trust Inc.’s Net Margin is presently recorded at +7.08.
Return on Total Capital for ESRT is now 2.00, given the latest momentum, and Return on Invested Capital for the company is 1.74. Return on Equity for this stock inclined to 4.08, with Return on Assets sitting at 1.26. When it comes to the capital structure of this company, Empire State Realty Trust Inc. [ESRT] has a Total Debt to Total Equity ratio set at 135.00. Additionally, ESRT Total Debt to Total Capital is recorded at 57.45, with Total Debt to Total Assets ending up at 43.18. Long-Term Debt to Equity for the company is recorded at 137.76, with the Long-Term Debt to Total Capital now at 57.26.
Reflecting on the efficiency of the workforce at the company, Empire State Realty Trust Inc. [ESRT] managed to generate an average of $61,544 per employee. Receivables Turnover for the company is 26.35 with a Total Asset Turnover recorded at a value of 0.18.
Empire State Realty Trust Inc. [ESRT]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Empire State Realty Trust Inc. posted 0.09/share EPS, while the average EPS was predicted by analysts to be reported at 0.08/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ESRT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Empire State Realty Trust Inc. go to 1.80%.
An analysis of insider ownership at Empire State Realty Trust Inc. [ESRT]
There are presently around $895 million, or 100.00% of ESRT stock, in the hands of institutional investors. The top three institutional holders of ESRT stocks are: VANGUARD GROUP INC with ownership of 23,112,252, which is approximately -4.612% of the company’s market cap and around 0.07% of the total institutional ownership; SOUTHEASTERN ASSET MANAGEMENT INC/TN/, holding 15,006,556 shares of the stock with an approximate value of $94.54 million in ESRT stocks shares; and BLACKROCK INC., currently with $60.36 million in ESRT stock with ownership of nearly -2.058% of the company’s market capitalization.
Positions in Empire State Realty Trust Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 105 institutional holders increased their position in Empire State Realty Trust Inc. [NYSE:ESRT] by around 48,824,801 shares. Additionally, 102 investors decreased positions by around 48,434,957 shares, while 27 investors held positions by with 44,835,437 shares. The mentioned changes placed institutional holdings at 142,095,195 shares, according to the latest SEC report filing. ESRT stock had 39 new institutional investments in for a total of 25,552,703 shares, while 37 institutional investors sold positions of 6,022,123 shares during the same period.