Equities research analysts predict that Empire State Realty Trust, Inc. (NYSE:ESRT) will report $119.96 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Empire State Realty Trust’s earnings. The lowest sales estimate is $119.16 million and the highest is $120.75 million. Empire State Realty Trust reported sales of $112.61 million in the same quarter last year, which indicates a positive year over year growth rate of 6.5%. The company is expected to issue its next quarterly earnings report on Wednesday, July 26th.

According to Zacks, analysts expect that Empire State Realty Trust will report full year sales of $119.96 million for the current fiscal year, with estimates ranging from $480.89 million to $487.53 million. For the next financial year, analysts expect that the firm will report sales of $515.93 million per share, with estimates ranging from $505.33 million to $526.52 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Empire State Realty Trust.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $164.95 million during the quarter, compared to analysts’ expectations of $118.20 million. Empire State Realty Trust had a return on equity of 3.88% and a net margin of 11.02%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS.

Several research analysts recently weighed in on the company. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $21.00 price target on shares of Empire State Realty Trust in a research report on Thursday, June 22nd. BMO Capital Markets set a $23.00 target price on Empire State Realty Trust and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Evercore ISI started coverage on Empire State Realty Trust in a research report on Wednesday, May 31st. They issued an “in-line” rating and a $23.00 target price on the stock. Finally, TheStreet lowered Empire State Realty Trust from a “b” rating to a “c+” rating in a research report on Friday, May 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Empire State Realty Trust presently has an average rating of “Hold” and an average price target of $22.20.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp raised its position in shares of Empire State Realty Trust by 9.2% in the fourth quarter. State Street Corp now owns 1,767,857 shares of the real estate investment trust’s stock valued at $35,690,000 after buying an additional 148,815 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Empire State Realty Trust by 18.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,699,374 shares of the real estate investment trust’s stock valued at $34,309,000 after buying an additional 263,336 shares during the last quarter. Credit Agricole S A raised its position in shares of Empire State Realty Trust by 32.0% in the fourth quarter. Credit Agricole S A now owns 75,785 shares of the real estate investment trust’s stock valued at $1,530,000 after buying an additional 18,353 shares during the last quarter. Envestnet Asset Management Inc. raised its position 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 during the last quarter. Finally, A.R.T. Advisors LLC purchased a new position in shares of Empire State Realty Trust during the fourth quarter valued at $456,000. 83.13% of the stock is currently owned by institutional investors.

Empire State Realty Trust (NYSE:ESRT) traded up 0.10% during trading on Friday, hitting $20.37. The stock had a trading volume of 447,401 shares. The company has a market cap of $3.22 billion, a P/E ratio of 53.89 and a beta of 1.01. The company has a 50 day moving average of $20.96 and a 200-day moving average of $20.77. Empire State Realty Trust has a 12-month low of $18.47 and a 12-month high of $22.31.

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were given a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 2.06%. The ex-dividend date was Tuesday, June 13th. Empire State Realty Trust’s payout ratio is currently 110.53%.

ILLEGAL ACTIVITY NOTICE: This report was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/07/07/119-96-million-in-sales-expected-for-empire-state-realty-trust-inc-esrt-this-quarter-2.html.

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, including the Empire State Building. The Company operates through two segments: Real Estate and Observatory.

Get a free copy of the Zacks research report on Empire State Realty Trust (ESRT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Empire State Realty Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Empire State Realty Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.