Creative Planning Raises Stock Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Creative Planning grew its holdings in Empire State Realty Trust, Inc. (NYSE:ESRT) by 20.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,598 shares of the real estate investment trust’s stock after purchasing an additional 2,145 shares during the quarter. Creative Planning’s holdings in Empire State Realty Trust were worth $140,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in Empire State Realty Trust in the 1st quarter valued at approximately $143,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Empire State Realty Trust in the second quarter valued at $137,000. MQS Management LLC purchased a new position in Empire State Realty Trust in the first quarter valued at $172,000. Inspire Advisors LLC acquired a new position in Empire State Realty Trust during the 2nd quarter worth $171,000. Finally, Capital Investment Counsel Inc purchased a new stake in Empire State Realty Trust during the 2nd quarter worth about $186,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

Empire State Realty Trust Price Performance

ESRT stock opened at $10.61 on Wednesday. The business has a 50 day moving average price of $10.86 and a 200 day moving average price of $10.18. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 1.24. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 39.28 and a beta of 1.40. Empire State Realty Trust, Inc. has a fifty-two week low of $8.31 and a fifty-two week high of $11.62.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ESRT shares. StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd. BMO Capital Markets boosted their price target on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company increased their price objective 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.

Empire State Realty Trust Profile

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.