Empire State Realty Trust (NYSE:ESRT) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Empire State Realty Trust (NYSE:ESRT) from a sell rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other analysts also recently issued reports on the company. Wells Fargo & Company dropped their price target on Empire State Realty Trust from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Tuesday, September 1st. Weiss Ratings restated a “sell (d)” rating on shares of Empire State Realty Trust in a research report on Wednesday. Evercore set a $5.00 target price on shares of Empire State Realty Trust in a research note on Monday, September 21st. Finally, Citigroup dropped their target price on shares of Empire State Realty Trust from $5.75 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Sell” and an average price target of $5.00.

Empire State Realty Trust Trading Down 0.1%

Shares of ESRT stock opened at $5.29 on Friday. The company has a market capitalization of $916.74 million, a PE ratio of 132.41 and a beta of 1.41. Empire State Realty Trust has a 52-week low of $3.93 and a 52-week high of $7.53. The business’s fifty day moving average is $4.54 and its 200 day moving average is $5.28. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.32 and a current ratio of 1.32.

Empire State Realty Trust (NYSE:ESRT) last posted its earnings results on Monday, November 2nd. The real estate investment trust reported $0.20 EPS for the quarter. The business had revenue of $193.05 million during the quarter. Empire State Realty Trust had a return on equity of 0.13% and a net margin of 0.30%. On average, equities research analysts anticipate that Empire State Realty Trust will post 0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ESRT. Lasalle Investment Management Securities LLC lifted its stake in Empire State Realty Trust by 64.0% during the first quarter. Lasalle Investment Management Securities LLC now owns 9,058,860 shares of the real estate investment trust’s stock worth $47,106,000 after purchasing an additional 3,534,376 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Empire State Realty Trust by 12.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,787,585 shares of the real estate investment trust’s stock worth $31,384,000 after purchasing an additional 881,649 shares in the last quarter. SummitTX Capital L.P. increased its position in shares of Empire State Realty Trust by 11.3% during the 1st quarter. SummitTX Capital L.P. now owns 1,434,267 shares of the real estate investment trust’s stock valued at $7,458,000 after purchasing an additional 146,070 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Empire State Realty Trust by 32.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,358,330 shares of the real estate investment trust’s stock valued at $7,063,000 after purchasing an additional 332,810 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Empire State Realty Trust by 56.1% during the 1st quarter. Bessemer Group Inc. now owns 712,061 shares of the real estate investment trust’s stock valued at $3,703,000 after buying an additional 255,804 shares in the last quarter. Institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Company Profile

Empire State Realty Trust, Inc is a self-managed real estate investment trust that owns, manages, operates, acquires and repositions office, retail and multifamily properties in New York City and the surrounding metropolitan area. Its portfolio is concentrated in Manhattan and includes properties serving businesses, residents, retailers and visitors.

The company’s landmark asset is the Empire State Building, which it operates as a mixed-use office, retail and tourist destination. Empire State Realty Trust also manages the building’s public observatories, offering visitors views of New York City, and provides leasing and property-management services across its portfolio.

Empire State Realty Trust was formed in 2011 and became a publicly traded company in 2013.