A share of Empire State Realty Trust Inc. (NYSE:ESRT) closed at $7.10 per share on Thursday, down from $7.17 day before. While Empire State Realty Trust Inc. has underperformed by -0.98%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ESRT fell by -27.85%, with highs and lows ranging from $11.07 to $6.53, whereas the simple moving average fell by -15.82% in the last 200 days.
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On August 01, 2022, Wolfe Research Downgraded Empire State Realty Trust Inc. (NYSE: ESRT) to Peer Perform. A report published by BMO Capital Markets on July 14, 2022, Upgraded its rating to ‘Market Perform’ for ESRT. Evercore ISI also Upgraded ESRT shares as ‘Outperform’, setting a target price of $11 on the company’s shares in a report dated May 02, 2022. BMO Capital Markets March 07, 2022d the rating to Underperform on March 07, 2022, and set its price target from $11 to $8. KeyBanc Capital Markets January 13, 2022d its ‘Overweight’ rating to ‘Underweight’ for ESRT, as published in its report on January 13, 2022. BMO Capital Markets also rated the stock as ‘Market Perform’.
Analysis of Empire State Realty Trust Inc. (ESRT)
It’s important to note that ESRT shareholders are currently getting $0.14 per share in dividends, so investors will receive a return regardless of how the company performs. Further, the quarter-over-quarter increase in sales is 29.10%, showing a positive trend in the upcoming months.
Empire State Realty Trust Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of 0.80% is sufficient for you to turn a profit off your investment.
For any stock, average volume can be an extremely valuable indicator of volatility, and ESRT is registering an average volume of 1.12M. On a monthly basis, the volatility of the stock is set at 2.92%, whereas on a weekly basis, it is put at 3.97%, with a loss of -0.98% over the past seven days. Furthermore, long-term investors anticipate a median target price of $8.35, showing growth from the present price of $7.10, which can serve as yet another indication of whether ESRT is worth investing in or should be passed over.
How Do You Analyze Empire State Realty Trust Inc. Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.05%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 99.04% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in ESRT shares?
The recent increase in stakes in ESRT appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in ESRT has decreased by -2.69% in the first quarter. The company now owns 22,259,998 shares of the stock, with a value of $155.15 million, following the sale of -615,121 additional shares during the last quarter. Southeastern Asset Management, In made another decreased to its shares in ESRT during the first quarter, downing its stake by -3.91%. During the last quarter, the company dropped down -578,903 additional shares for a total stake of worth $99.1 million, bringing number of shares owned by the company to 14,217,772.
During the first quarter, BlackRock Fund Advisors subtracted a -137,665 position in ESRT. Massachusetts Financial Services purchased an additional 0.14 million shares in the last quarter, increasing its holdings by 1.44%, now holding 10.14 million shares worth $70.71 million. At the end of the first quarter, SSgA Funds Management, Inc. increased its ESRT holdings by 0.42% and now holds 7.29 million ESRT shares valued at $50.79 million with the added 30240.0 shares during the period. ESRT shares are owned by institutional investors to the tune of 99.04% at present.