Empire State Realty Trust (NYSE:ESRT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “Empire State Realty Trust, Inc. is a real estate investment trust which owns, manages, operates, acquires and repositions office and retail properties primarily in Manhattan and New York metropolitan area. Empire State Realty Trust, Inc. is based in New York, United States. “

A number of other equities research analysts also recently weighed in on the stock. TheStreet downgraded shares of Empire State Realty Trust from a “b” rating to a “c+” rating in a research report on Thursday, November 16th. BMO Capital Markets reiterated a “buy” rating and issued a $23.00 price target on shares of Empire State Realty Trust in a research report on Wednesday, November 1st. BidaskClub downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, October 28th. Finally, Evercore ISI upgraded shares of Empire State Realty Trust from an “in” rating to a “line” rating and set a $23.00 price target for the company in a research report on Monday, December 4th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. Empire State Realty Trust presently has an average rating of “Hold” and a consensus price target of $22.50.

Shares of Empire State Realty Trust (NYSE ESRT) traded up $0.09 during trading hours on Tuesday, hitting $20.47. The stock had a trading volume of 442,851 shares, compared to its average volume of 861,774. 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 $3,231.01, a PE ratio of 21.00, a PEG ratio of 5.18 and a beta of 0.98. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.80.

Empire State Realty Trust (NYSE:ESRT) last issued its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). Empire State Realty Trust had a return on equity of 3.98% and a net margin of 11.90%. The firm had revenue of $122.39 million for the quarter, compared to the consensus estimate of $122.22 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The company’s revenue was up 5.8% on a year-over-year basis. analysts forecast that Empire State Realty Trust will post 0.94 earnings per share for the current year.

In other news, Chairman Anthony E. Malkin sold 1,243,163 shares of Empire State Realty Trust stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $20.45, for a total value of $25,422,683.35. Following the completion of the sale, the chairman now directly owns 156,416 shares in the company, valued at $3,198,707.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 11.80% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Japan Co. Ltd raised its position in Empire State Realty Trust by 1.4% during the first quarter. BlackRock Japan Co. Ltd now owns 6,216 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 87 shares in the last quarter. Societe Generale acquired a new position in Empire State Realty Trust during the second quarter valued at approximately $111,000. SG Americas Securities LLC acquired a new position in Empire State Realty Trust during the second quarter valued at approximately $111,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Empire State Realty Trust by 10.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,898 shares of the real estate investment trust’s stock valued at $112,000 after purchasing an additional 582 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Empire State Realty Trust by 9.4% during the second quarter. The Manufacturers Life Insurance Company now owns 5,571 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 479 shares in the last quarter. Institutional investors and hedge funds 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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