Empire State Realty Trust (NYSE:ESRT) Upgraded 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,Wall Street Zen reports.

Several other analysts also recently commented on ESRT. Evercore set a $5.00 price target on shares of Empire State Realty Trust in a research report on Monday, September 21st. Citigroup decreased their price target on shares of Empire State Realty Trust from $5.75 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Empire State Realty Trust in a research report on Wednesday, November 4th. Finally, Wells Fargo & Company dropped their price objective on shares of Empire State Realty Trust from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Sell” and an average target price of $5.00.

Empire State Realty Trust Trading Up 0.3%

ESRT opened at $5.33 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.15. Empire State Realty Trust has a 52 week low of $3.93 and a 52 week high of $7.53. The business’s 50 day moving average is $4.55 and its two-hundred day moving average is $5.27. The firm has a market cap of $921.92 million, a price-to-earnings ratio of 133.16 and a beta of 1.41.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings data on Monday, November 2nd. The real estate investment trust reported $0.02 earnings per share 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, research analysts predict that Empire State Realty Trust will post 0.79 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ESRT. Russell Investments Group Ltd. boosted its holdings in Empire State Realty Trust by 14.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 87,994 shares of the real estate investment trust’s stock valued at $355,000 after purchasing an additional 11,065 shares in the last quarter. Fulcrum Asset Management LLP acquired a new position in Empire State Realty Trust during the 3rd quarter worth approximately $125,000. Chicago Partners Investment Group LLC acquired a new position in Empire State Realty Trust during the 3rd quarter worth approximately $62,000. Sumitomo Mitsui Trust Group Inc. increased its position in Empire State Realty Trust by 12.8% during 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 during the period. Finally, Vise Technologies Inc. purchased a new position in shares of Empire State Realty Trust during the 3rd quarter worth approximately $74,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

About Empire State Realty Trust

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.