Empire State Realty Trust (NYSE:ESRT) Rating Increased to Hold at StockNews.com

Empire State Realty Trust (NYSE:ESRT) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

Other research analysts have also issued reports about the company. BMO Capital Markets boosted their target price on Empire State Realty Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Wells Fargo & Company lifted their price objective on shares of 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 Performance

Shares of ESRT opened at $10.90 on Friday. The company has a market cap of $1.81 billion, a PE ratio of 40.37 and a beta of 1.40. The firm has a 50-day moving average of $10.79 and a 200-day moving average of $10.04. Empire State Realty Trust has a one year low of $7.43 and a one year high of $11.62. The company has a debt-to-equity ratio of 1.24, a current ratio of 4.05 and a quick ratio of 4.05.

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). The firm 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 2.74%. During the same period in the prior year, the business earned $0.25 EPS. As a group, equities analysts forecast that Empire State Realty Trust will post 0.93 earnings per share for the current year.

Institutional Trading of Empire State Realty Trust

Several hedge funds have recently added to or reduced their stakes in the company. Lighthouse Investment Partners LLC acquired a new position in Empire State Realty Trust in the 2nd quarter valued at $7,926,000. 1832 Asset Management L.P. bought a new stake in shares of Empire State Realty Trust in the second quarter valued at about $4,573,000. Jupiter Asset Management Ltd. bought a new stake in shares of Empire State Realty Trust in the first quarter valued at about $2,896,000. Vanguard Group Inc. grew its stake in shares of 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. Finally, Renaissance Technologies LLC increased its position in Empire State Realty Trust by 142.5% during the second quarter. Renaissance Technologies LLC now owns 255,400 shares of the real estate investment trust’s stock worth $2,396,000 after acquiring an additional 150,100 shares during the period. 67.10% of the stock is owned by institutional investors and hedge funds.

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.