Empire State Realty Trust Inc. (NYSE: ESRT) stock fell -2.84% on Friday to $7.86 against a previous-day closing price of $8.09. With 1.0 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.51 million shares. During the session, the REIT – Diversified company that operates in wider Real Estate sector, reached to the highest price of $8.18 whereas the lowest price it dropped to was $7.85. The 52-week range on ESRT shows that it touched its highest point at $11.29 and its lowest point at $6.53 during that stretch. It currently has a 1-year price target of $9.38. With its current market cap of 1.19 billion, ESRT has annualized dividend of $0.14 while the current yield stands at 1.78%. Beta for the stock currently stands at 1.06.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ESRT was up-trending over the past week, with a rise of 2.21%, but this was up by 7.23% over a month. Three-month performance dropped to -11.69% while six-month performance fell -14.38%. The stock lost -27.02% in the past year, while it has lost -11.69% so far this year. A look at the trailing 12-month EPS for ESRT yields -0.07 with Next year EPS estimates of 0.16. For the next quarter, that number is 0.06. This implies an EPS growth rate of 35.00% for this year and 300.00% for next year. EPS is expected to grow by 1.80% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -16.70%.
Float and Shares Shorts:
At present, 169.73 million ESRT shares are outstanding with a float of 165.49 million shares on hand for trading. On Jul 14, 2022, short shares totaled 12.56 million, which was 7.50% higher than short shares on Jun 14, 2022. In addition to Mr. Anthony E. Malkin as the firm’s Chairman, CEO & Pres, Ms. Christina Chiu serves as its Exec. VP & CFO.
Through their ownership of 97.31% of ESRT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 43.64% of ESRT, in contrast to 37.26% held by mutual funds. Shares owned by individuals account for 18.17%. As the largest shareholder in ESRT with 13.73% of the stake, The Vanguard Group, Inc. holds 22,875,119 shares worth 22,875,119. A second-largest stockholder of ESRT, Southeastern Asset Management, In, holds 14,796,675 shares, controlling over 8.88% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ESRT, holding 10,365,964 shares or 6.22% stake. With a 6.17% stake in ESRT, the Longleaf Partners Small Cap Fund is the largest stakeholder. A total of 10,274,803 shares are owned by the mutual fund manager. The Vanguard Real Estate Index Fund, which owns about 3.97% of ESRT stock, is the second-largest Mutual Fund holder. It holds 6,617,284 shares valued at 46.52 million. Vanguard Total Stock Market Index holds 2.96% of the stake in ESRT, owning 4,926,032 shares worth 34.63 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ESRT since 8 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ESRT analysts setting a high price target of $10.00 and a low target of $5.50, the average target price over the next 12 months is $8.15. Based on these targets, ESRT could surge 27.23% to reach the target high and fall by -30.03% to reach the target low. Reaching the average price target will result in a growth of 3.69% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ESRT will report FY 2021 earnings on 02/22/2023. Analysts have provided yearly estimates in a range of $0.64 being high and $0.64 being low. For ESRT, this leads to a yearly average estimate of $0.64. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Empire State Realty Trust Inc. reported $0.11 EPS. Based on analyst estimates, the high estimate for the next quarter is $0.15 and the low estimate is $0.15. The average estimate for the next quarter is thus $0.15.
Summary of Insider Activity:
Insiders traded ESRT stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 0 while 0 shares were sold.