Empire State Realty Trust (NYSE:ESRT) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Empire State Realty Trust (NYSE:ESRT) from a hold rating to a sell rating in a research note published on Saturday.

ESRT has been the topic of a number of other research reports. Wells Fargo & Company raised their target price on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Wednesday, September 11th. BMO Capital Markets boosted their price objective on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th.

Empire State Realty Trust Stock Up 1.4 %

Shares of ESRT stock opened at $10.84 on Friday. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 1.24. Empire State Realty Trust has a 12 month low of $8.31 and a 12 month high of $11.62. The stock has a market cap of $1.80 billion, a P/E ratio of 40.13 and a beta of 1.40. The company has a 50 day simple moving average of $10.85 and a two-hundred day simple moving average of $10.13.

Empire State Realty Trust (NYSE:ESRT) last posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). Empire State Realty Trust had a return on equity of 2.74% and a net margin of 6.22%. The firm had revenue of $199.60 million during the quarter. During the same quarter in the prior year, the company earned $0.25 EPS. On average, research analysts expect that Empire State Realty Trust will post 0.93 earnings per share for the current year.

Institutional Trading of Empire State Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Lighthouse Investment Partners LLC purchased a new stake in shares of Empire State Realty Trust in the second quarter valued at approximately $7,926,000. Vanguard Group Inc. boosted its stake in Empire State Realty Trust by 0.9% in the first quarter. Vanguard Group Inc. now owns 19,287,935 shares of the real estate investment trust’s stock valued at $195,387,000 after acquiring an additional 175,718 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Empire State Realty Trust during the second quarter worth approximately $4,573,000. Jupiter Asset Management Ltd. acquired a new position in Empire State Realty Trust in the first quarter valued at $2,896,000. Finally, ProShare Advisors LLC increased its position in Empire State Realty Trust by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 23,747 shares of the real estate investment trust’s stock valued at $241,000 after acquiring an additional 1,868 shares during the period. Hedge funds and other institutional investors own 67.10% of the company’s stock.

About Empire State Realty Trust

Empire State Realty Trust, Inc (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. The company is the recognized leader in energy efficiency and indoor environmental quality. ESRT’s flagship Empire State Building – the “World’s Most Famous Building” – includes its Observatory, Tripadvisor’s 2023 Travelers’ Choice Awards: Best of the Best the #1 attraction in the US for two consecutive years.