Empire State Realty Trust (NYSE:ESRT) Price Target Raised to $13.00 at BMO Capital Markets

Empire State Realty Trust (NYSE:ESRT) had its target price increased by BMO Capital Markets from $12.00 to $13.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the stock. StockNews.com cut 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 lifted their target price on Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 11th.

Empire State Realty Trust Stock Up 1.4 %

Empire State Realty Trust stock opened at $10.74 on Friday. The stock’s fifty day moving average is $10.88 and its two-hundred day moving average is $10.22. The stock has a market cap of $1.79 billion, a PE ratio of 39.78 and a beta of 1.40. Empire State Realty Trust has a 1-year low of $8.39 and a 1-year high of $11.62. 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 (NYSE:ESRT) last announced its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). The business had revenue of $199.60 million during 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 last year, the business earned $0.25 earnings per share. On average, sell-side analysts expect that Empire State Realty Trust will post 0.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ESRT. Lighthouse Investment Partners LLC purchased a new position in shares of Empire State Realty Trust during the second quarter worth about $7,926,000. Vanguard Group Inc. lifted its stake in shares of Empire State Realty Trust by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 19,287,935 shares of the real estate investment trust’s stock worth $195,387,000 after acquiring an additional 175,718 shares during the period. 1832 Asset Management L.P. purchased a new stake in shares of Empire State Realty Trust in the second quarter valued at about $4,573,000. Wolverine Asset Management LLC acquired a new position in shares of Empire State Realty Trust during the third quarter worth about $1,194,000. Finally, Jupiter Asset Management Ltd. purchased a new position in Empire State Realty Trust during the first quarter worth about $2,896,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Empire State Realty Trust Company 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.