BMO Capital Markets Raises Empire State Realty Trust (NYSE:ESRT) Price Target to $13.00

Empire State Realty Trust (NYSE:ESRT - Free Report) had its price target raised by BMO Capital Markets from $12.00 to $13.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the real estate investment trust's stock.

Other equities research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Empire State Realty Trust from a "hold" rating to a "sell" rating in a research note on Saturday, November 2nd. Wells Fargo & Company increased their target price on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the stock an "underweight" rating in a report on Wednesday, September 11th.

Empire State Realty Trust Trading Up 0.6 %

Shares of NYSE:ESRT traded up $0.06 during trading on Friday, reaching $10.60. The stock had a trading volume of 1,215,676 shares, compared to its average volume of 1,131,191. The business has a fifty day moving average price of $10.86 and a 200-day moving average price of $10.19. The company has a quick ratio of 4.05, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. The stock has a market cap of $1.77 billion, a P/E ratio of 39.04 and a beta of 1.40. Empire State Realty Trust has a fifty-two week low of $8.39 and a fifty-two week high of $11.62.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.16). Empire State Realty Trust had a return on equity of 2.73% and a net margin of 6.22%. The company had revenue of $199.60 million for the quarter. During the same period last year, the business earned $0.25 earnings per share. As a group, 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

Several large investors have recently made changes to their positions in the business. Arizona State Retirement System lifted its position in shares of Empire State Realty Trust by 2.9% in the second quarter. Arizona State Retirement System now owns 38,808 shares of the real estate investment trust's stock worth $364,000 after purchasing an additional 1,083 shares in the last quarter. Van ECK Associates Corp raised its position in Empire State Realty Trust by 5.4% during the second quarter. Van ECK Associates Corp now owns 23,718 shares of the real estate investment trust's stock valued at $222,000 after acquiring an additional 1,221 shares in the last quarter. BNP Paribas Financial Markets raised its position in 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 valued at $315,000 after acquiring an additional 1,231 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Empire State Realty Trust by 35.5% in the third 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 period. Finally, Federated Hermes Inc. raised its position in shares of Empire State Realty Trust by 0.4% in the second 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 during the period. Institutional investors own 67.10% of the company's stock.

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.