Empire State Realty Trust (NYSE:ESRT) Upgraded by StockNews.com to Hold Rating

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

Separately, BMO Capital Markets lifted their price objective 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 Stock Down 0.1 %

NYSE:ESRT traded down $0.01 during mid-day trading on Tuesday, hitting $9.54. 1,729,004 shares of the company's stock were exchanged, compared to its average volume of 1,129,250. The company has a market cap of $1.59 billion, a PE ratio of 35.33 and a beta of 1.41. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. Empire State Realty Trust has a one year low of $8.78 and a one year high of $11.62. The business has a fifty day moving average price of $10.61 and a 200 day moving average price of $10.57.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last released 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). The company had revenue of $199.60 million during the quarter. Empire State Realty Trust had a return on equity of 2.73% and a net margin of 6.22%. During the same quarter in the prior year, the company posted $0.25 earnings per share. Equities analysts predict that Empire State Realty Trust will post 0.93 EPS for the current year.

Insider Buying and Selling at Empire State Realty Trust

In related news, EVP Thomas P. Durels sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $10.10, for a total value of $101,000.00. Following the completion of the sale, the executive vice president now owns 86,807 shares in the company, valued at approximately $876,750.70. The trade was a 10.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 13.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Empire State Realty Trust

Institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Empire State Realty Trust by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,758,869 shares of the real estate investment trust's stock worth $41,648,000 after acquiring an additional 171,056 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Empire State Realty Trust by 1.1% during the third quarter. Geode Capital Management LLC now owns 3,406,925 shares of the real estate investment trust's stock worth $37,756,000 after purchasing an additional 38,529 shares in the last quarter. Vision Capital Corp lifted its holdings in shares of Empire State Realty Trust by 79.9% during the 3rd quarter. Vision Capital Corp now owns 2,802,948 shares of the real estate investment trust's stock valued at $31,057,000 after purchasing an additional 1,245,211 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Empire State Realty Trust by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,615,985 shares of the real estate investment trust's stock worth $17,905,000 after purchasing an additional 98,850 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Empire State Realty Trust by 392.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,099,288 shares of the real estate investment trust's stock worth $12,180,000 after buying an additional 875,836 shares during the last quarter. 67.10% of the stock is owned by hedge funds and other 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.

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