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

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

Separately, BMO Capital Markets raised their target price on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 15th.

Empire State Realty Trust Stock Performance

Empire State Realty Trust stock traded down $0.01 during trading hours on Tuesday, hitting $9.54. 1,729,004 shares of the stock traded hands, compared to its average volume of 1,129,250. The firm’s 50 day moving average price is $10.61 and its 200-day moving average price is $10.57. 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 stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 35.33 and a beta of 1.41. Empire State Realty Trust has a 1 year low of $8.78 and a 1 year high of $11.62.

Empire State Realty Trust (NYSE:ESRT) last issued its earnings results on Monday, October 21st. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.73%. The firm had revenue of $199.60 million during the quarter. During the same quarter in the prior year, the company posted $0.25 EPS. As a group, equities analysts expect that Empire State Realty Trust will post 0.93 EPS for the current fiscal year.

Insider Activity at Empire State Realty Trust

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 3,193 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $10.90, for a total transaction of $34,803.70. Following the transaction, the executive vice president now owns 96,807 shares in the company, 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 SEC, which can be accessed through this hyperlink. 13.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Arizona State Retirement System increased its stake in Empire State Realty Trust by 2.9% during the 2nd quarter. Arizona State Retirement System now owns 38,808 shares of the real estate investment trust’s stock worth $364,000 after buying an additional 1,083 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Empire State Realty Trust by 4.5% during the third quarter. BNP Paribas Financial Markets now owns 28,391 shares of the real estate investment trust’s stock worth $315,000 after purchasing an additional 1,231 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Empire State Realty Trust by 35.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 1,419 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Empire State Realty Trust by 0.4% in the 2nd quarter. Federated Hermes Inc. now owns 343,637 shares of the real estate investment trust’s stock valued at $3,223,000 after purchasing an additional 1,428 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in Empire State Realty Trust by 81.6% in the 3rd quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,524 shares in the last quarter. 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.