Empire State Realty Trust Inc (NYSE:ESRT) was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating in a research note issued on Friday.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets set a $23.00 target price on Empire State Realty Trust and gave the company a “buy” rating in a report on Saturday, May 13th. Zacks Investment Research upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, January 31st. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Empire State Realty Trust presently has an average rating of “Buy” and an average price target of $22.00.

Empire State Realty Trust (NYSE:ESRT) traded up 0.05% during mid-day trading on Friday, hitting $20.76. The company had a trading volume of 916,298 shares. The company has a 50-day moving average price of $21.04 and a 200 day moving average price of $20.52. The company has a market capitalization of $3.28 billion, a P/E ratio of 54.92 and a beta of 0.98. Empire State Realty Trust has a 52-week low of $18.31 and a 52-week high of $22.31.

Empire State Realty Trust (NYSE:ESRT) last announced its earnings results on Wednesday, April 26th. The real estate investment trust reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. Empire State Realty Trust had a return on equity of 3.60% and a net margin of 8.70%. The company had revenue of $164.95 million during the quarter, compared to analysts’ expectations of $118.20 million. During the same period last year, the business posted $0.22 EPS. Empire State Realty Trust’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts forecast that Empire State Realty Trust will post $0.92 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be given a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Tuesday, June 13th. Empire State Realty Trust’s dividend payout ratio is currently 123.53%.

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A number of large investors have recently bought and sold shares of the stock. State Street Corp raised its stake in Empire State Realty Trust by 7.1% in the first quarter. State Street Corp now owns 1,892,698 shares of the real estate investment trust’s stock worth $39,070,000 after buying an additional 124,841 shares in the last quarter. Bank of America Corp DE raised its stake in Empire State Realty Trust by 18.5% in the first quarter. Bank of America Corp DE now owns 1,509,606 shares of the real estate investment trust’s stock worth $31,158,000 after buying an additional 236,156 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Empire State Realty Trust during the first quarter worth about $414,000. BlackRock Inc. raised its stake in Empire State Realty Trust by 3,596.9% in the first quarter. BlackRock Inc. now owns 6,901,650 shares of the real estate investment trust’s stock worth $142,448,000 after buying an additional 6,714,963 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in Empire State Realty Trust by 115.3% in the first quarter. Lazard Asset Management LLC now owns 268,582 shares of the real estate investment trust’s stock worth $5,543,000 after buying an additional 143,824 shares in the last quarter. 82.96% of the stock is currently owned by institutional investors.

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.

12 Month Chart for NYSE:ESRT

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