BidaskClub cut shares of Empire State Realty Trust, Inc. (NYSE:ESRT) from a hold rating to a sell rating in a research report report published on Tuesday morning.

Other equities analysts also recently issued reports about the stock. TheStreet raised shares of Empire State Realty Trust from a c+ rating to a b rating in a research note on Thursday, April 27th. BMO Capital Markets set a $23.00 price target on shares of Empire State Realty Trust and gave the stock a buy rating in a research note on Saturday, May 13th. Evercore ISI started coverage on shares of Empire State Realty Trust in a research note on Wednesday, May 31st. They issued an in-line rating and a $23.00 price target on the stock. Finally, Goldman Sachs Group, Inc. (The) reissued a neutral rating and issued a $21.00 price target on shares of Empire State Realty Trust in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $22.20.

Empire State Realty Trust (ESRT) traded down 0.34% during mid-day trading on Tuesday, hitting $20.68. 1,354,520 shares of the stock were exchanged. The stock’s 50 day moving average is $20.71 and its 200 day moving average is $20.81. Empire State Realty Trust has a 52-week low of $18.62 and a 52-week high of $22.31. The stock has a market cap of $3.28 billion, a PE ratio of 52.76 and a beta of 1.01.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The firm had revenue of $120.80 million for the quarter, compared to the consensus estimate of $118.81 million. Empire State Realty Trust had a net margin of 11.67% and a return on equity of 3.85%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.24 earnings per share. Analysts forecast that Empire State Realty Trust will post $0.92 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Tuesday, June 13th. Empire State Realty Trust’s payout ratio is currently 107.70%.

A number of large investors have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. boosted its stake in Empire State Realty Trust by 19.5% in the second quarter. Daiwa Securities Group Inc. now owns 7,302,285 shares of the real estate investment trust’s stock valued at $151,669,000 after buying an additional 1,192,471 shares during the last quarter. NGAM Advisors L.P. boosted its stake in Empire State Realty Trust by 7.9% in the second quarter. NGAM Advisors L.P. now owns 240,649 shares of the real estate investment trust’s stock valued at $4,998,000 after buying an additional 17,692 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Empire State Realty Trust by 34.4% in the second quarter. Russell Investments Group Ltd. now owns 1,507,659 shares of the real estate investment trust’s stock valued at $31,293,000 after buying an additional 385,615 shares during the last quarter. Breton Hill Capital Ltd. purchased a new stake in Empire State Realty Trust during the second quarter valued at about $998,000. Finally, Aperio Group LLC boosted its stake in Empire State Realty Trust by 22.7% in the second quarter. Aperio Group LLC now owns 21,229 shares of the real estate investment trust’s stock valued at $441,000 after buying an additional 3,927 shares during the last quarter. Hedge funds and other institutional investors own 83.24% of the company’s stock.

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.

Analyst Recommendations for Empire State Realty Trust (NYSE:ESRT)

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