Evercore ISI slashes price target on Empire State Realty Trust Inc. [ESRT] – find out why.



Empire State Realty Trust Inc. [NYSE: ESRT] traded at a high on 12/30/21, posting a 0.45 gain after which it closed the day’ session at $8.96. The company report on December 14, 2021 that EMPIRE STATE BUILDING LAUNCHES COMPLIMENTARY STEAM AND SOCIAL STUDIES CURRICULUM FOR STUDENTS, IN PARTNERSHIP WITH BANK STREET COLLEGE OF EDUCATION.

As the Building marks 90 years in 2021, an updated curriculum for student group visits to the brand-new Observatory Experience offers new academic rigor in engineering, history, tech, and sustainability.

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The Empire State Building (ESB), in partnership with Bank Street College of Education, today announced its updated, interactive lesson plans for student group visits to its brand new $165 million Observatory upgrade. The curriculum follows New York State Learning Standards for STEAM (science, technology, engineering, arts, and mathematics) and social studies curricula and has grade level appropriate lesson plans for elementary, middle, and high school students. The lesson plans offer learning before, during, and after a visit to the World’s Most Famous Building and its newly reimagined Observatory Experience.

The results of the trading session contributed to over 3408890 shares changing hands. Over the past one week, the price volatility of Empire State Realty Trust Inc. stands at 1.84% while the volatility over the past one month is 3.58%.

The market cap for ESRT stock reached $1.52 billion, with 172.49 million shares outstanding and 171.74 million shares in the current float. Compared to the average trading volume of 1.66M shares, ESRT reached a trading volume of 3408890 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 $11.43 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 2.60. 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.

Evercore ISI have made an estimate for Empire State Realty Trust Inc. shares, keeping their opinion on the stock as In-line, with their previous recommendation back on December 06, 2021. The new note on the price target was released on July 12, 2021, representing the official price target for Empire State Realty Trust Inc. stock. Previously, the target price had yet another raise to $16, while Wolfe Research analysts kept a Outperform rating on ESRT stock. On May 03, 2021, analysts increased their price target for ESRT shares from 12 to 13.

The Average True Range (ATR) for Empire State Realty Trust Inc. is set at 0.32, with the Price to Sales ratio for ESRT stock in the period of the last 12 months amounting to 2.48. The Price to Book ratio for the last quarter was 1.49, with the Price to Cash per share for the same quarter was set at 3.42. Price to Free Cash Flow for ESRT in the course of the last twelve months was 21.21.

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 1.13. With this latest performance, ESRT shares dropped by -1.43% in over the last four-week period, additionally sinking by -26.01% over the last 6 months – not to mention a drop of -3.45% 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 42.54, with the RSI for the last a single of trading hit 45.51, and the three-weeks RSI is set at 41.81 for Empire State Realty Trust Inc. [ESRT]. The present Moving Average for the last 50 days of trading for this stock 9.70, while it was recorded at 8.96 for the last single week of trading, and 10.83 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 +9.40 and a Gross Margin at +19.62. Empire State Realty Trust Inc.’s Net Margin is presently recorded at -2.06.

Return on Total Capital for ESRT is now 1.52, given the latest momentum, and Return on Invested Capital for the company is -0.41. Return on Equity for this stock declined to -1.10, with Return on Assets sitting at -0.31. 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 205.24. Additionally, ESRT Total Debt to Total Capital is recorded at 67.24, with Total Debt to Total Assets ending up at 52.18. Long-Term Debt to Equity for the company is recorded at 204.85, with the Long-Term Debt to Total Capital now at 67.11.

Reflecting on the efficiency of the workforce at the company, Empire State Realty Trust Inc. [ESRT] managed to generate an average of -$23,158 per employee. Receivables Turnover for the company is 2.48 with a Total Asset Turnover recorded at a value of 0.15.

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

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%.

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

There are presently around $1,313 million, or 99.10% of ESRT stock, in the hands of institutional investors. The top three institutional holders of ESRT stocks are: VANGUARD GROUP INC with ownership of 22,764,487, which is approximately -0.129% of the company’s market cap and around 0.42% of the total institutional ownership; SOUTHEASTERN ASSET MANAGEMENT INC/TN/, holding 16,054,090 shares of the stock with an approximate value of $143.2 million in ESRT stocks shares; and BLACKROCK INC., currently with $123.96 million in ESRT stock with ownership of nearly -2.681% 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 85 institutional holders increased their position in Empire State Realty Trust Inc. [NYSE:ESRT] by around 13,753,283 shares. Additionally, 96 investors decreased positions by around 9,063,534 shares, while 40 investors held positions by with 124,390,514 shares. The mentioned changes placed institutional holdings at 147,207,331 shares, according to the latest SEC report filing. ESRT stock had 23 new institutional investments in for a total of 1,203,193 shares, while 31 institutional investors sold positions of 2,683,442 shares during the same period.