Empire State Realty Trust (ESRT) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Empire State Realty Trust (NYSE:ESRT) from a sell rating to a hold rating in a research note released on Tuesday.

According to Zacks, “Empire State Realty Trust, Inc. is a real estate investment trust which owns, manages, operates, acquires and repositions office and retail properties primarily in Manhattan and New York metropolitan area. Empire State Realty Trust, Inc. is based in New York, United States. “

Other analysts have also issued research reports about the stock. Bank of America lowered shares of Empire State Realty Trust from a buy rating to a neutral rating and set a $19.00 price target for the company. in a research note on Tuesday, August 7th. BTIG Research lowered shares of Empire State Realty Trust from a buy rating to a hold rating and set a $24.00 price target for the company. in a research note on Tuesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $20.50.

ESRT stock traded down $0.13 during midday trading on Tuesday, reaching $15.99. 664,482 shares of the company’s stock traded hands, compared to its average volume of 1,325,028. The firm has a market capitalization of $2.75 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 6.48 and a beta of 0.88. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.96. Empire State Realty Trust has a 52 week low of $15.45 and a 52 week high of $20.93.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.14). The business had revenue of $123.62 million for the quarter, compared to the consensus estimate of $123.49 million. Empire State Realty Trust had a net margin of 12.39% and a return on equity of 4.48%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 EPS. On average, equities analysts predict that Empire State Realty Trust will post 0.89 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of ESRT. Nisa Investment Advisors LLC bought a new stake in shares of Empire State Realty Trust in the 2nd quarter worth $137,000. Redpoint Investment Management Pty Ltd bought a new stake in shares of Empire State Realty Trust in the 3rd quarter worth $169,000. Eqis Capital Management Inc. bought a new stake in shares of Empire State Realty Trust in the 2nd quarter worth $172,000. Brown Advisory Inc. bought a new stake in shares of Empire State Realty Trust in the 1st quarter worth $177,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of Empire State Realty Trust in the 2nd quarter worth $184,000. Hedge funds and other institutional investors own 73.23% of the company’s stock.

Empire State Realty Trust Company Profile

Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world's most famous building.

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