Cornercap Investment Counsel Inc. Sells 21,854 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

Cornercap Investment Counsel Inc. lessened its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 51.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,823 shares of the real estate investment trust’s stock after selling 21,854 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Empire State Realty Trust were worth $231,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ESRT. Signaturefd LLC grew its position in Empire State Realty Trust by 81.6% during the third quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 1,524 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Empire State Realty Trust by 35.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 1,419 shares during the last quarter. Ballentine Partners LLC purchased a new stake in Empire State Realty Trust during the 3rd quarter valued at $129,000. Creative Planning grew its holdings in Empire State Realty Trust by 20.5% in the 3rd quarter. Creative Planning now owns 12,598 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 2,145 shares during the last quarter. Finally, Metis Global Partners LLC lifted its holdings in Empire State Realty Trust by 38.8% in the 3rd quarter. Metis Global Partners LLC now owns 14,265 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 3,987 shares during the period. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Empire State Realty Trust Trading Up 1.4 %

Empire State Realty Trust stock opened at $10.74 on Tuesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 4.05. Empire State Realty Trust, Inc. has a one year low of $8.39 and a one year high of $11.62. The stock has a market capitalization of $1.79 billion, a PE ratio of 39.78 and a beta of 1.40. The business’s fifty day moving average is $10.88 and its 200 day moving average is $10.22.

Empire State Realty Trust (NYSE:ESRT) last announced 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). The business had revenue of $199.60 million for the quarter. Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.73%. During the same period in the prior year, the company posted $0.25 earnings per share. On average, sell-side analysts predict that Empire State Realty Trust, Inc. will post 0.93 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. StockNews.com downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 2nd. Wells Fargo & Company increased their price target on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 11th. Finally, BMO Capital Markets upped their price objective on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday.

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.