Empire State Realty Trust (NYSE:ESRT) Lifted to “Hold” at StockNews.com

Empire State Realty Trust (NYSE:ESRT) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other research firms have also recently issued reports on ESRT. Wells Fargo & Company boosted their price objective on 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 Empire State Realty Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, July 19th.

Empire State Realty Trust Stock Performance

Shares of ESRT stock traded up $0.04 during trading hours on Friday, reaching $10.90. 757,383 shares of the company’s stock were exchanged, compared to its average volume of 1,129,719. Empire State Realty Trust has a fifty-two week low of $7.43 and a fifty-two week high of $11.62. The stock has a market capitalization of $1.80 billion, a P/E ratio of 36.32 and a beta of 1.40. The business has a fifty day moving average price of $10.79 and a 200-day moving average price of $10.04. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.23.

Empire State Realty Trust (NYSE:ESRT) last issued its quarterly 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 2.57% and a net margin of 5.89%. The business had revenue of $199.60 million for the quarter. During the same period in the previous year, the business posted $0.25 EPS. Analysts predict that Empire State Realty Trust will post 0.92 EPS for the current fiscal year.

Institutional Trading of Empire State Realty Trust

A number of large investors have recently bought and sold shares of the stock. Arizona State Retirement System grew its position in Empire State Realty Trust by 2.9% in the second quarter. Arizona State Retirement System now owns 38,808 shares of the real estate investment trust’s stock valued at $364,000 after acquiring an additional 1,083 shares during the period. Van ECK Associates Corp grew its position in Empire State Realty Trust by 5.4% in the second quarter. Van ECK Associates Corp now owns 23,718 shares of the real estate investment trust’s stock valued at $222,000 after acquiring an additional 1,221 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Empire State Realty Trust by 35.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 1,419 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Empire State Realty Trust by 0.4% during the second quarter. Federated Hermes Inc. now owns 343,637 shares of the real estate investment trust’s stock worth $3,223,000 after purchasing an additional 1,428 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of 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 purchasing an additional 1,524 shares during the last quarter. 67.10% of the stock is currently owned by 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.