Eaton Vance Management boosted its position in Empire State Realty Trust Inc (NYSE:ESRT) by 299.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 340,667 shares of the real estate investment trust’s stock after acquiring an additional 255,379 shares during the period. Eaton Vance Management owned 0.20% of Empire State Realty Trust worth $5,658,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Redpoint Investment Management Pty Ltd bought a new stake in shares of Empire State Realty Trust during the 3rd quarter valued at about $169,000. Eqis Capital Management Inc. bought a new stake in shares of Empire State Realty Trust during the 2nd quarter valued at about $172,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Empire State Realty Trust during the 2nd quarter valued at about $184,000. Cornerstone Wealth Management LLC bought a new stake in shares of Empire State Realty Trust during the 2nd quarter valued at about $200,000. Finally, Levin Capital Strategies L.P. bought a new stake in shares of Empire State Realty Trust during the 2nd quarter valued at about $205,000. 71.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of ESRT opened at $16.19 on Friday. The stock has a market cap of $2.86 billion, a PE ratio of 17.48, a P/E/G ratio of 6.52 and a beta of 0.89. The company has a debt-to-equity ratio of 0.96, a quick ratio of 7.10 and a current ratio of 7.10. Empire State Realty Trust Inc has a 1-year low of $15.19 and a 1-year high of $20.93.
Empire State Realty Trust (NYSE:ESRT) last announced its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.14). Empire State Realty Trust had a net margin of 12.39% and a return on equity of 4.48%. The company had revenue of $123.62 million for the quarter, compared to the consensus estimate of $123.49 million. During the same period in the previous year, the firm posted $0.26 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Research analysts expect that Empire State Realty Trust Inc will post 0.89 EPS for the current year.
A number of brokerages have recently weighed in on ESRT. ValuEngine raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, December 1st. Zacks Investment Research raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $20.00.
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Empire State Realty Trust Profile
Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), 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 world's most famous building.
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