Empire State Realty Trust Inc. (ESRT) Lifted to Hold at TheStreet
Empire State Realty Trust Inc. (NYSE:ESRT) was upgraded by investment analysts at TheStreet from a “sell” rating to a “hold” rating in a report released on Monday.
Several other equities analysts have also recently commented on the stock. BTIG Research assumed coverage on shares of Empire State Realty Trust in a research report on Thursday, August 25th. They issued a “buy” rating and a $24.00 target price for the company. Zacks Investment Research upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $20.60.
Empire State Realty Trust (NYSE:ESRT) traded up 0.35% during mid-day trading on Monday, hitting $19.80. 1,561,610 shares of the stock traded hands. Empire State Realty Trust has a one year low of $14.58 and a one year high of $22.31. The stock has a market capitalization of $2.46 billion, a PE ratio of 62.86 and a beta of 0.96. The company has a 50 day moving average price of $21.02 and a 200-day moving average price of $19.61.
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Empire State Realty Trust (NYSE:ESRT) last issued its earnings results on Wednesday, July 27th. The real estate investment trust reported $0.24 EPS for the quarter, missing the consensus estimate of $0.26 by $0.02. The firm earned $165.80 million during the quarter, compared to analyst estimates of $116.59 million. Empire State Realty Trust had a net margin of 10.33% and a return on equity of 4.73%. Empire State Realty Trust’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Equities analysts anticipate that Empire State Realty Trust will post $0.94 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Thursday, September 15th. Empire State Realty Trust’s dividend payout ratio is 131.25%.
A number of institutional investors have recently added to or reduced their stakes in the company. Shinko Asset Management Co. Ltd. raised its stake in Empire State Realty Trust by 9.0% in the second quarter. Shinko Asset Management Co. Ltd. now owns 3,514,394 shares of the real estate investment trust’s stock worth $66,738,000 after buying an additional 288,720 shares during the last quarter. Resolution Capital Ltd raised its stake in Empire State Realty Trust by 1.9% in the second quarter. Resolution Capital Ltd now owns 4,145,321 shares of the real estate investment trust’s stock worth $78,720,000 after buying an additional 78,072 shares during the last quarter. Renaissance Technologies LLC raised its stake in Empire State Realty Trust by 36.8% in the first quarter. Renaissance Technologies LLC now owns 1,754,083 shares of the real estate investment trust’s stock worth $30,749,000 after buying an additional 472,283 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Empire State Realty Trust by 16.2% in the first quarter. Goldman Sachs Group Inc. now owns 6,242,522 shares of the real estate investment trust’s stock worth $109,431,000 after buying an additional 868,143 shares during the last quarter. Finally, Menta Capital LLC raised its stake in Empire State Realty Trust by 57.5% in the first quarter. Menta Capital LLC now owns 89,971 shares of the real estate investment trust’s stock worth $1,577,000 after buying an additional 32,855 shares during the last quarter. Institutional investors and hedge funds own 95.85% of the company’s stock.
About Empire State Realty Trust
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. The Company’s segments include Real Estate, Observatory and Other. The Real Estate segment includes the Company’s activities related to the ownership, management, operation, acquisition, repositioning and disposition of its real estate assets.
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