Empire State Realty Trust Inc. [ESRT] Stock trading around $7.55 per share: What’s Next?

Empire State Realty Trust Inc. [NYSE: ESRT] traded at a high on 11/09/20, posting a 37.52 gain after which it closed the day’ session at $7.55. The company report on November 10, 2020 that Empire State Realty Trust Welcomes Swedbank to the Empire State Building.

Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that Swedbank, a Stockholm-based banking group, signed a 7,905 sq ft. lease on the 45th floor at the Empire State Building.

“We are delighted to welcome Swedbank to the Empire State Building. Our entire portfolio continues to attract top credit businesses, especially international tenants who are particularly focused on our best-in-class Indoor Environmental Quality and Energy Efficiency,” said Thomas Durels, EVP, Real Estate. “ESRT is the first commercial real estate portfolio in the U.S. to achieve the WELL Health-Safety Rating, and our leadership in Indoor Environmental Quality makes companies comfortable that they can return their employees to the office.”.

The results of the trading session contributed to over 8605715 shares changing hands. Over the past one week, the price volatility of Empire State Realty Trust Inc. stands at 7.48% while the volatility over the past one month is 5.14%.

The market cap for ESRT stock reached $1.33 billion, with 173.05 million shares outstanding and 170.67 million shares in the current float. Compared to the average trading volume of 2.14M shares, ESRT reached a trading volume of 8605715 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $8.43 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 2.90. 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.

Citigroup have made an estimate for Empire State Realty Trust Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 03, 2020. While these analysts kept the previous recommendation, BMO Capital Markets dropped their target price from $9 to $8. The new note on the price target was released on August 28, 2020, representing the official price target for Empire State Realty Trust Inc. stock. Previously, the target price had yet another drop from $15 to $7.50, while Citigroup kept a Sell rating on ESRT stock. On March 12, 2020, analysts decreased their price target for ESRT shares from 14 to 9.

The Average True Range (ATR) for Empire State Realty Trust Inc. is set at 0.40, with the Price to Sales ratio for ESRT stock in the period of the last 12 months amounting to 2.04. The Price to Book ratio for the last quarter was 1.22, with the Price to Cash per share for the same quarter was set at 2.12.

How has ESRT stock performed recently?

Empire State Realty Trust Inc. [ESRT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 32.92. With this latest performance, ESRT shares gained by 13.19% in over the last four-week period, additionally plugging by 3.14% over the last 6 months – not to mention a drop of -47.86% 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 70.10, with the RSI for the last a single of trading hit 76.31, and the three-weeks RSI is set at 65.13 for Empire State Realty Trust Inc. [ESRT]. The present Moving Average for the last 50 days of trading for this stock 6.22, while it was recorded at 5.99 for the last single week of trading, and 7.98 for the last 200 days.

Empire State Realty Trust Inc. [ESRT]: Deeper insight into the fundamentals

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.

Earnings analysis for Empire State Realty Trust Inc. [ESRT]

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%.

Insider trade positions for Empire State Realty Trust Inc. [ESRT]

There are presently around $1,090 million, 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 $113.3 million in ESRT stocks shares; and BLACKROCK INC., currently with $70.83 million in ESRT stock with ownership of nearly -2.079% of the company’s market capitalization.

Positions in Empire State Realty Trust Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 107 institutional holders increased their position in Empire State Realty Trust Inc. [NYSE:ESRT] by around 48,398,429 shares. Additionally, 96 investors decreased positions by around 47,800,930 shares, while 25 investors held positions by with 48,203,979 shares. The mentioned changes placed institutional holdings at 144,403,338 shares, according to the latest SEC report filing. ESRT stock had 42 new institutional investments in for a total of 26,549,172 shares, while 31 institutional investors sold positions of 6,517,687 shares during the same period.

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