Empire State Realty Trust (ESRT) PT Lowered to $20.00

Empire State Realty Trust (NYSE:ESRT) had its target price reduced by Stifel Nicolaus from $23.00 to $20.00 in a research note issued on Wednesday. The firm presently has a “buy” rating on the real estate investment trust’s stock. Stifel Nicolaus’ price target points to a potential upside of 10.19% from the company’s previous close.

ESRT has been the subject of several other reports. Zacks Investment Research cut shares of Empire State Realty Trust from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. TheStreet raised shares of Empire State Realty Trust from a “c+” rating to a “b” rating in a research note on Tuesday, October 31st. BMO Capital Markets reaffirmed a “buy” rating and issued a $23.00 target price on shares of Empire State Realty Trust in a research note on Wednesday, November 1st. Evercore ISI raised shares of Empire State Realty Trust from an “in” rating to a “line” rating and set a $23.00 target price for the company in a research note on Monday, December 4th. Finally, BidaskClub cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, October 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $22.00.

Empire State Realty Trust (NYSE ESRT) traded down $0.29 during mid-day trading on Wednesday, reaching $18.15. 1,578,665 shares of the company’s stock traded hands, compared to its average volume of 1,190,000. The stock has a market cap of $2,900.00, a PE ratio of 45.38, a P/E/G ratio of 4.32 and a beta of 0.86. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.93 and a quick ratio of 4.93. Empire State Realty Trust has a 12-month low of $17.52 and a 12-month high of $21.98.

In other news, Chairman Anthony E. Malkin sold 1,243,163 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $20.45, for a total transaction of $25,422,683.35. Following the completion of the sale, the chairman now directly owns 156,416 shares of the company’s stock, valued at approximately $3,198,707.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 11.80% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in ESRT. Public Employees Retirement System of Ohio lifted its holdings in shares of Empire State Realty Trust by 0.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 52,989 shares of the real estate investment trust’s stock valued at $1,101,000 after acquiring an additional 223 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Empire State Realty Trust by 9.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,571 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 479 shares in the last quarter. Advisor Group Inc. lifted its holdings in shares of Empire State Realty Trust by 22.1% during the 2nd quarter. Advisor Group Inc. now owns 8,344 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 1,510 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Empire State Realty Trust by 32.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,399 shares of the real estate investment trust’s stock valued at $234,000 after acquiring an additional 2,821 shares in the last quarter. Finally, IndexIQ Advisors LLC lifted its holdings in shares of Empire State Realty Trust by 1.7% during the 3rd quarter. IndexIQ Advisors LLC now owns 193,352 shares of the real estate investment trust’s stock valued at $3,971,000 after acquiring an additional 3,279 shares in the last quarter. 82.62% of the stock is owned by institutional investors.

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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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