Empire State Realty Trust (ESRT) Stock Rating Upgraded by Evercore ISI

Empire State Realty Trust (NYSE:ESRT) was upgraded by equities researchers at Evercore ISI from an “in” rating to a “line” rating in a research note issued on Monday. The firm currently has a $23.00 price target on the real estate investment trust’s stock. Evercore ISI’s price target suggests a potential upside of 13.24% from the company’s previous close.

Several other analysts have also recently issued reports on ESRT. Zacks Investment Research cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. BidaskClub cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 28th. BMO Capital Markets restated a “buy” rating and issued a $23.00 target price on shares of Empire State Realty Trust in a report on Wednesday, November 1st. Finally, TheStreet upgraded Empire State Realty Trust from a “c+” rating to a “b” rating in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Empire State Realty Trust currently has a consensus rating of “Hold” and an average target price of $22.50.

Shares of Empire State Realty Trust (NYSE:ESRT) opened at $20.31 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.93 and a current ratio of 4.93. Empire State Realty Trust has a 12-month low of $19.54 and a 12-month high of $21.98. The company has a market capitalization of $3,262.73, a P/E ratio of 21.21, a P/E/G ratio of 5.22 and a beta of 0.98.

Empire State Realty Trust (NYSE:ESRT) last issued its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.01). The company had revenue of $122.39 million during the quarter, compared to analysts’ expectations of $122.22 million. Empire State Realty Trust had a net margin of 11.90% and a return on equity of 3.98%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 earnings per share. analysts predict that Empire State Realty Trust will post 0.95 EPS for the current fiscal year.

Large investors have recently modified their holdings of the business. Citadel Advisors LLC grew its holdings in shares of Empire State Realty Trust by 2,199.9% during the 3rd quarter. Citadel Advisors LLC now owns 1,170,876 shares of the real estate investment trust’s stock worth $24,050,000 after purchasing an additional 1,119,967 shares during the period. Cohen & Steers Inc. grew its holdings in shares of Empire State Realty Trust by 3.9% during the 3rd quarter. Cohen & Steers Inc. now owns 19,570,975 shares of the real estate investment trust’s stock worth $401,988,000 after purchasing an additional 727,977 shares during the period. Resolution Capital Ltd grew its holdings in shares of Empire State Realty Trust by 11.6% during the 3rd quarter. Resolution Capital Ltd now owns 6,051,122 shares of the real estate investment trust’s stock worth $124,290,000 after purchasing an additional 628,944 shares during the period. American Century Companies Inc. grew its holdings in shares of Empire State Realty Trust by 11.0% during the 2nd quarter. American Century Companies Inc. now owns 4,143,964 shares of the real estate investment trust’s stock worth $86,070,000 after purchasing an additional 411,503 shares during the period. Finally, Balyasny Asset Management LLC grew its holdings in shares of Empire State Realty Trust by 1,448.5% during the 2nd quarter. Balyasny Asset Management LLC now owns 369,028 shares of the real estate investment trust’s stock worth $7,665,000 after purchasing an additional 345,197 shares during the period. Institutional investors own 82.51% of the company’s stock.

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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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