Empire State Realty Trust (NYSE:ESRT) Cut to Sell at StockNews.com

Empire State Realty Trust (NYSE:ESRT - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Thursday.

Separately, BMO Capital Markets increased their price target on 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 Trading Down 0.2 %

Shares of NYSE:ESRT traded down $0.02 during mid-day trading on Thursday, reaching $9.67. The stock had a trading volume of 684,513 shares, compared to its average volume of 1,020,165. The firm has a 50 day simple moving average of $10.43 and a two-hundred day simple moving average of $10.58. Empire State Realty Trust has a twelve month low of $8.78 and a twelve month high of $11.62. The firm has a market cap of $1.61 billion, a PE ratio of 35.80 and a beta of 1.41. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share 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 firm had revenue of $199.60 million during the quarter. During the same quarter in the previous year, the business posted $0.25 EPS. On average, research analysts predict that Empire State Realty Trust will post 0.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 3,193 shares of the company's 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 completion of the transaction, the executive vice president now owns 96,807 shares of the company's stock, valued at $1,055,196.30. This represents a 3.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 13.95% of the company's stock.

Institutional Trading of Empire State Realty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Custom Index Systems LLC grew its position in Empire State Realty Trust by 17.3% in the fourth quarter. Custom Index Systems LLC now owns 19,292 shares of the real estate investment trust's stock valued at $199,000 after purchasing an additional 2,845 shares in the last quarter. Vert Asset Management LLC lifted its position in Empire State Realty Trust by 4.5% during the 4th quarter. Vert Asset Management LLC now owns 55,749 shares of the real estate investment trust's stock worth $575,000 after buying an additional 2,400 shares in the last quarter. Inspire Investing LLC boosted its stake in shares of Empire State Realty Trust by 22.3% during the 4th quarter. Inspire Investing LLC now owns 45,771 shares of the real estate investment trust's stock worth $472,000 after buying an additional 8,346 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Empire State Realty Trust by 46.4% in the 4th quarter. SG Americas Securities LLC now owns 39,636 shares of the real estate investment trust's stock valued at $409,000 after acquiring an additional 12,553 shares in the last quarter. Finally, Ballentine Partners LLC increased its position in shares of Empire State Realty Trust by 22.8% in the fourth quarter. Ballentine Partners LLC now owns 14,349 shares of the real estate investment trust's stock valued at $148,000 after acquiring an additional 2,668 shares during the last quarter. 67.10% of the stock is currently 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.

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