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

Empire State Realty Trust (NYSE:ESRT) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

Separately, BMO Capital Markets upped 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 0.4 %

Shares of NYSE ESRT opened at $9.61 on Thursday. 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 1 year low of $8.78 and a 1 year high of $11.62. The business has a 50-day moving average of $10.41 and a two-hundred day moving average of $10.58. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 35.58 and a beta of 1.41.

Insiders Place Their Bets

In other news, EVP Thomas P. Durels sold 10,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $876,750.70. This represents a 10.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Empire State Realty Trust

Several institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC grew its stake in Empire State Realty Trust by 142.5% during the 2nd quarter. Renaissance Technologies LLC now owns 255,400 shares of the real estate investment trust’s stock worth $2,396,000 after buying an additional 150,100 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Empire State Realty Trust in the second quarter worth about $137,000. Hsbc Holdings PLC increased its stake in shares of Empire State Realty Trust by 19.6% during the second quarter. Hsbc Holdings PLC now owns 115,639 shares of the real estate investment trust’s stock valued at $1,081,000 after acquiring an additional 18,930 shares during the period. XTX Topco Ltd lifted its holdings in shares of Empire State Realty Trust by 129.5% in the second quarter. XTX Topco Ltd now owns 24,752 shares of the real estate investment trust’s stock valued at $232,000 after buying an additional 13,967 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Empire State Realty Trust by 4.0% during the 2nd quarter. Sei Investments Co. now owns 49,131 shares of the real estate investment trust’s stock valued at $461,000 after purchasing an additional 1,882 shares in the last quarter. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

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.