Empire State Realty Trust (NYSE:ESRT) Stock Rating Lowered by StockNews.com

Empire State Realty Trust (NYSE:ESRT) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other research analysts have also commented on ESRT. BMO Capital Markets boosted their price target on shares of 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. Wells Fargo & Company lifted 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.

Empire State Realty Trust Price Performance

Shares of NYSE ESRT opened at $10.49 on Friday. The stock has a fifty day moving average of $10.83 and a 200-day moving average of $10.08. The stock has a market cap of $1.75 billion, a PE ratio of 38.83 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 4.05 and a current ratio of 4.05. Empire State Realty Trust has a fifty-two week low of $8.31 and a fifty-two week high of $11.62.

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 firm had revenue of $199.60 million during the quarter. Empire State Realty Trust had a return on equity of 2.74% and a net margin of 6.22%. During the same quarter last year, the firm posted $0.25 earnings per share. Equities research analysts anticipate that Empire State Realty Trust will post 0.93 earnings per share for the current year.

Institutional Investors Weigh In On Empire State Realty Trust

Hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in Empire State Realty Trust by 3.3% in the 3rd quarter. Principal Financial Group Inc. now owns 98,013 shares of the real estate investment trust’s stock worth $1,086,000 after buying an additional 3,141 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of Empire State Realty Trust by 17.0% during the third quarter. QRG Capital Management Inc. now owns 18,064 shares of the real estate investment trust’s stock worth $200,000 after acquiring an additional 2,630 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Empire State Realty Trust by 2.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 211,724 shares of the real estate investment trust’s stock worth $2,346,000 after acquiring an additional 4,581 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Empire State Realty Trust by 11.5% in the 3rd quarter. Van ECK Associates Corp now owns 26,453 shares of the real estate investment trust’s stock valued at $288,000 after purchasing an additional 2,735 shares in the last quarter. Finally, abrdn plc grew its holdings in shares of Empire State Realty Trust by 9.9% during the 3rd quarter. abrdn plc now owns 28,996 shares of the real estate investment trust’s stock valued at $321,000 after purchasing an additional 2,606 shares during the last quarter. Institutional investors own 67.10% of the company’s stock.

About Empire State Realty Trust

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.