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

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

Separately, BMO Capital Markets upped 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. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.25.

Empire State Realty Trust Stock Up 2.0 %

Empire State Realty Trust stock traded up $0.21 during mid-day trading on Friday, reaching $10.75. 3,186,996 shares of the company were exchanged, compared to its average volume of 1,075,987. The business has a fifty day moving average of $9.56 and a 200 day moving average of $9.66. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.24 and a current ratio of 3.24. The firm has a market cap of $1.77 billion, a P/E ratio of 35.83, a PEG ratio of 6.52 and a beta of 1.40. Empire State Realty Trust has a 12-month low of $7.25 and a 12-month high of $11.20.

Empire State Realty Trust (NYSE:ESRT) last posted its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.14). The company had revenue of $189.54 million for the quarter. Empire State Realty Trust had a return on equity of 2.57% and a net margin of 5.89%. During the same period in the prior year, the company posted $0.26 EPS. Research analysts anticipate 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

Large investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its position in shares of Empire State Realty Trust by 19.3% in the 4th quarter. Wellington Management Group LLP now owns 5,821,372 shares of the real estate investment trust’s stock valued at $56,409,000 after acquiring an additional 943,593 shares during the period. Norges Bank acquired a new position in shares of Empire State Realty Trust in the 4th quarter valued at $8,571,000. Cbre Investment Management Listed Real Assets LLC increased its position in shares of Empire State Realty Trust by 36.8% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,467,453 shares of the real estate investment trust’s stock valued at $23,910,000 after acquiring an additional 663,159 shares during the period. Federated Hermes Inc. increased its position in shares of Empire State Realty Trust by 4,430.5% in the 4th quarter. Federated Hermes Inc. now owns 334,167 shares of the real estate investment trust’s stock valued at $3,238,000 after acquiring an additional 326,791 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new stake in Empire State Realty Trust during the 1st quarter worth about $2,896,000. 67.10% of the stock is owned by institutional investors and hedge funds.

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.