Empire State Realty Trust Inc (ESRT) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Empire State Realty Trust Inc (NYSE:ESRT) have been assigned an average recommendation of “Hold” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $22.33.

Several equities analysts have weighed in on ESRT shares. Zacks Investment Research cut Empire State Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Evercore ISI raised Empire State Realty Trust from an “in” rating to a “line” rating and set a $23.00 price objective for the company in a report on Monday, December 4th. BidaskClub cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 28th. BMO Capital Markets reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Empire State Realty Trust in a report on Wednesday, November 1st. Finally, TheStreet cut Empire State Realty Trust from a “b” rating to a “c+” rating in a report on Thursday, November 16th.

In related news, Chairman Anthony E. Malkin sold 1,243,163 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $20.45, for a total transaction of $25,422,683.35. Following the sale, the chairman now owns 156,416 shares in the company, valued at approximately $3,198,707.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 11.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cohen & Steers Inc. grew its position in shares of Empire State Realty Trust by 3.9% in the 3rd quarter. Cohen & Steers Inc. now owns 19,570,975 shares of the real estate investment trust’s stock valued at $401,988,000 after buying an additional 727,977 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Empire State Realty Trust by 0.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,322,597 shares of the real estate investment trust’s stock valued at $150,407,000 after buying an additional 20,312 shares during the last quarter. BlackRock Inc. grew its position in shares of Empire State Realty Trust by 3.3% in the 2nd quarter. BlackRock Inc. now owns 7,131,040 shares of the real estate investment trust’s stock valued at $148,111,000 after buying an additional 229,390 shares during the last quarter. Resolution Capital Ltd grew its position in shares of Empire State Realty Trust by 11.6% in the 3rd quarter. Resolution Capital Ltd now owns 6,051,122 shares of the real estate investment trust’s stock valued at $124,290,000 after buying an additional 628,944 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Empire State Realty Trust by 5.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,325,176 shares of the real estate investment trust’s stock valued at $47,759,000 after buying an additional 111,411 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Shares of Empire State Realty Trust (ESRT) opened at $19.00 on Monday. The firm has a market capitalization of $3,030.00, a P/E ratio of 47.50, a P/E/G ratio of 4.50 and a beta of 0.98. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.93 and a current ratio of 4.93. Empire State Realty Trust has a fifty-two week low of $18.92 and a fifty-two week high of $21.98.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a dividend of $0.105 per share. The ex-dividend date was Thursday, December 14th. This represents a $0.42 dividend on an annualized basis and a yield of 2.21%. Empire State Realty Trust’s dividend payout ratio is currently 105.00%.

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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.

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