StockNews.com Upgrades Empire State Realty Trust (NYSE:ESRT) to “Hold”

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

Separately, Wolfe Research upgraded shares of Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 target price for the company in a report on Tuesday, March 25th.

Empire State Realty Trust Trading Down 2.9 %

Shares of ESRT stock opened at $7.23 on Thursday. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $1.21 billion, a P/E ratio of 25.80 and a beta of 1.39. Empire State Realty Trust has a twelve month low of $6.95 and a twelve month high of $11.62. The stock’s fifty day simple moving average is $8.66 and its 200 day simple moving average is $9.96.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.19. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. The business had revenue of $155.13 million during the quarter, compared to the consensus estimate of $192.62 million. As a group, sell-side analysts predict that Empire State Realty Trust will post 0.88 EPS for the current fiscal year.

Insider Activity

In other news, EVP Thomas P. Durels sold 12,500 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $8.11, for a total transaction of $101,375.00. Following the completion of the transaction, the executive vice president now directly owns 74,307 shares in the company, valued at $602,629.77. This trade represents a 14.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 30,122 shares of company stock valued at $242,761. 14.01% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Empire State Realty Trust

Several institutional investors and hedge funds have recently made changes to their positions in ESRT. Summit Investment Advisors Inc. boosted its holdings in shares of Empire State Realty Trust by 8.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 14,263 shares of the real estate investment trust’s stock valued at $147,000 after acquiring an additional 1,131 shares during the last quarter. BNP Paribas Financial Markets raised its position in Empire State Realty Trust by 4.5% in the third quarter. BNP Paribas Financial Markets now owns 28,391 shares of the real estate investment trust’s stock worth $315,000 after acquiring an additional 1,231 shares during the period. State of Alaska Department of Revenue raised its position in Empire State Realty Trust by 2.7% in the fourth quarter. State of Alaska Department of Revenue now owns 65,276 shares of the real estate investment trust’s stock worth $672,000 after acquiring an additional 1,722 shares during the period. MetLife Investment Management LLC grew its position in shares of Empire State Realty Trust by 2.3% during the 4th quarter. MetLife Investment Management LLC now owns 83,357 shares of the real estate investment trust’s stock valued at $860,000 after acquiring an additional 1,855 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Empire State Realty Trust in the 3rd quarter worth $25,000. Institutional investors own 67.10% of the company’s stock.

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.