Empire State Realty Trust Inc (ESRT) Downgraded by TheStreet

TheStreet downgraded shares of Empire State Realty Trust Inc (NYSE:ESRT) from a b rating to a c+ rating in a research report report published on Thursday.

ESRT has been the topic of several other reports. Zacks Investment Research downgraded Empire State Realty Trust from a hold rating to a sell rating in a research report on Wednesday, January 11th. Wells Fargo & Co set a $20.00 price objective on Empire State Realty Trust and gave the company a hold rating in a research report on Wednesday, November 30th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $21.80.

Empire State Realty Trust (NYSE:ESRT) opened at 20.67 on Thursday. The firm has a 50-day moving average price of $20.93 and a 200 day moving average price of $20.33. The firm has a market capitalization of $3.24 billion, a P/E ratio of 54.54 and a beta of 0.98. Empire State Realty Trust has a 52-week low of $17.24 and a 52-week high of $22.31.

Empire State Realty Trust (NYSE:ESRT) last issued its quarterly earnings data on Wednesday, February 22nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.03. Empire State Realty Trust had a return on equity of 3.60% and a net margin of 8.70%. The business had revenue of $179.26 million for the quarter, compared to the consensus estimate of $117.30 million. During the same period in the prior year, the business earned $0.25 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. Analysts forecast that Empire State Realty Trust will post $0.92 EPS for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be given a $0.105 dividend. The ex-dividend date of this dividend is Monday, March 13th. This represents a $0.42 annualized dividend and a dividend yield of 2.03%. Empire State Realty Trust’s dividend payout ratio is currently 123.53%.

Hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its stake in shares of Empire State Realty Trust by 625.0% in the third quarter. Nisa Investment Advisors LLC now owns 5,800 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 5,000 shares in the last quarter. Advisor Group Inc. increased its stake in shares of Empire State Realty Trust by 2.2% in the third quarter. Advisor Group Inc. now owns 6,264 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 134 shares in the last quarter. First Mercantile Trust Co. bought a new stake in shares of Empire State Realty Trust during the third quarter valued at about $171,000. Envestnet Asset Management Inc. increased its stake in shares of Empire State Realty Trust by 22.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,586 shares of the real estate investment trust’s stock valued at $274,000 after buying an additional 2,480 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in shares of Empire State Realty Trust by 36.6% in the third quarter. Great West Life Assurance Co. Can now owns 16,287 shares of the real estate investment trust’s stock valued at $341,000 after buying an additional 4,367 shares in the last quarter. Institutional investors and hedge funds own 82.96% of the company’s stock.

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.

5 Day Chart for NYSE:ESRT

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