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

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

ESRT has been the topic of a number of other research reports. Wells Fargo & Company increased their price objective on Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Wednesday, September 11th. StockNews.com downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd.

Empire State Realty Trust Trading Up 1.4 %

Shares of ESRT stock opened at $10.74 on Friday. The stock has a market cap of $1.79 billion, a P/E ratio of 39.78 and a beta of 1.40. Empire State Realty Trust has a fifty-two week low of $8.39 and a fifty-two week high of $11.62. The business has a fifty day simple moving average of $10.88 and a 200-day simple moving average of $10.22. The company has a quick ratio of 4.05, a current ratio of 3.72 and a debt-to-equity ratio of 1.23.

Empire State Realty Trust (NYSE:ESRT) last announced its 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 for the quarter. Empire State Realty Trust had a return on equity of 2.73% and a net margin of 6.22%. During the same period in the prior year, the firm posted $0.25 EPS. On average, analysts forecast that Empire State Realty Trust will post 0.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Empire State Realty Trust

Several large investors have recently added to or reduced their stakes in ESRT. Geode Capital Management LLC increased its stake in shares of Empire State Realty Trust by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,406,925 shares of the real estate investment trust’s stock valued at $37,756,000 after acquiring an additional 38,529 shares during the last quarter. Vestcor Inc grew its holdings in Empire State Realty Trust by 308.6% in the third quarter. Vestcor Inc now owns 125,231 shares of the real estate investment trust’s stock valued at $1,388,000 after purchasing an additional 94,582 shares during the period. Barclays PLC increased its position in Empire State Realty Trust by 133.2% during the third quarter. Barclays PLC now owns 304,539 shares of the real estate investment trust’s stock worth $3,374,000 after purchasing an additional 173,965 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Empire State Realty Trust by 1.9% during the third quarter. Public Employees Retirement System of Ohio now owns 195,324 shares of the real estate investment trust’s stock worth $2,164,000 after purchasing an additional 3,697 shares during the period. Finally, Jane Street Group LLC boosted its holdings in shares of Empire State Realty Trust by 95.4% in the 3rd quarter. Jane Street Group LLC now owns 228,587 shares of the real estate investment trust’s stock valued at $2,533,000 after purchasing an additional 111,589 shares during the last quarter. 67.10% of the stock is currently 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.