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

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

Separately, BMO Capital Markets lifted their price objective on Empire State Realty Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.25.

Empire State Realty Trust Stock Performance

Shares of Empire State Realty Trust stock traded up $0.21 during trading hours on Friday, reaching $10.75. The company had a trading volume of 3,186,996 shares, compared to its average volume of 1,075,987. Empire State Realty Trust has a one year low of $7.25 and a one year high of $11.20. The business has a fifty day simple moving average of $9.56 and a 200 day simple moving average of $9.66. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.24 and a quick ratio of 3.24. The firm has a market cap of $1.77 billion, a PE ratio of 35.83, a price-to-earnings-growth ratio of 6.52 and a beta of 1.40.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.14). Empire State Realty Trust had a return on equity of 2.57% and a net margin of 5.89%. The company had revenue of $189.54 million during the quarter. During the same period in the prior year, the firm earned $0.26 earnings per share. On average, analysts anticipate that Empire State Realty Trust will post 0.93 earnings per share for the current fiscal year.

Institutional Trading of Empire State Realty Trust

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Empire State Realty Trust by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 19,287,935 shares of the real estate investment trust’s stock worth $195,387,000 after purchasing an additional 175,718 shares in the last quarter. Wellington Management Group LLP boosted 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 worth $56,409,000 after purchasing an additional 943,593 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Empire State Realty Trust by 8.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,285,543 shares of the real estate investment trust’s stock worth $31,837,000 after purchasing an additional 245,458 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC boosted 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 worth $23,910,000 after purchasing an additional 663,159 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Empire State Realty Trust in the 4th quarter worth approximately $8,571,000. 67.10% of the stock is owned by institutional investors.

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.