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

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

Separately, BMO Capital Markets increased their target price on Empire State Realty Trust from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 15th.

Empire State Realty Trust Price Performance

Shares of NYSE:ESRT opened at $9.61 on Thursday. Empire State Realty Trust has a fifty-two week low of $8.78 and a fifty-two week 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 3.72. The business has a 50-day moving average of $10.41 and a two-hundred day moving average of $10.58. The stock has a market capitalization of $1.60 billion, a P/E ratio of 35.58 and a beta of 1.41.

Insiders Place Their Bets

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 3,193 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $10.90, for a total value of $34,803.70. Following the completion of the sale, the executive vice president now owns 96,807 shares of the company’s stock, valued at approximately $1,055,196.30. This represents a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.95% of the company’s stock.

Institutional Investors Weigh In On Empire State Realty Trust

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC increased its holdings in Empire State Realty Trust by 142.5% during the 2nd quarter. Renaissance Technologies LLC now owns 255,400 shares of the real estate investment trust’s stock worth $2,396,000 after purchasing an additional 150,100 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Empire State Realty Trust in the second quarter valued at $137,000. Hsbc Holdings PLC grew its holdings in Empire State Realty Trust by 19.6% during the second quarter. Hsbc Holdings PLC now owns 115,639 shares of the real estate investment trust’s stock worth $1,081,000 after purchasing an additional 18,930 shares during the period. XTX Topco Ltd increased its position in Empire State Realty Trust by 129.5% during the second quarter. XTX Topco Ltd now owns 24,752 shares of the real estate investment trust’s stock worth $232,000 after buying an additional 13,967 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Empire State Realty Trust by 4.0% in the second quarter. Sei Investments Co. now owns 49,131 shares of the real estate investment trust’s stock valued at $461,000 after buying an additional 1,882 shares during the period. 67.10% of the stock is currently owned by institutional investors.

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.