Empire State Realty Trust, Inc. (ESRT) Rating Reiterated by BMO Capital Markets

Empire State Realty Trust, Inc. (NYSE:ESRT)‘s stock had its “buy” rating reaffirmed by equities research analysts at BMO Capital Markets in a report issued on Wednesday. They presently have a $23.00 price objective on the real estate investment trust’s stock. BMO Capital Markets’ target price would indicate a potential upside of 14.71% from the stock’s previous close.

Several other equities analysts also recently issued reports on ESRT. BidaskClub downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.00.

Empire State Realty Trust (NYSE:ESRT) traded up 0.45% on Wednesday, reaching $20.14. 1,147,668 shares of the company’s stock were exchanged. Empire State Realty Trust has a 12-month low of $18.62 and a 12-month high of $21.98. The firm has a 50 day moving average of $20.50 and a 200-day moving average of $20.70. The company has a market cap of $3.20 billion, a P/E ratio of 51.38 and a beta of 1.01.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). The firm had revenue of $122.39 million for the quarter, compared to analysts’ expectations of $122.22 million. Empire State Realty Trust had a net margin of 11.67% and a return on equity of 3.85%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 EPS. Equities analysts expect that Empire State Realty Trust will post $0.92 EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently made changes to their positions in ESRT. The Manufacturers Life Insurance Company raised its stake in Empire State Realty Trust by 9.4% during the second quarter. The Manufacturers Life Insurance Company now owns 5,571 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 479 shares during the period. SG Americas Securities LLC raised its stake in Empire State Realty Trust by 13.8% during the second quarter. SG Americas Securities LLC now owns 7,137 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 865 shares during the period. Advisor Group Inc. raised its stake in Empire State Realty Trust by 22.1% during the second quarter. Advisor Group Inc. now owns 8,344 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 1,510 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Empire State Realty Trust by 15.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,440 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 1,122 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in Empire State Realty Trust by 44.8% during the second quarter. Advisors Asset Management Inc. now owns 8,578 shares of the real estate investment trust’s stock worth $178,000 after purchasing an additional 2,653 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Empire State Realty Trust Company Profile

Empire State Realty Trust, Inc is a real estate investment trust. The Company owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building. The Company operates through two segments: Real Estate and Observatory.

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