Shares of Empire State Realty Trust Inc (NYSE:ESRT) have received a consensus rating of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $20.00.

Several research firms have recently issued reports on ESRT. ValuEngine upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, December 1st. Zacks Investment Research upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th.

Empire State Realty Trust stock opened at $15.87 on Thursday. The stock has a market capitalization of $2.76 billion, a PE ratio of 16.53, a PEG ratio of 6.30 and a beta of 0.89. The company has a debt-to-equity ratio of 0.96, a current ratio of 7.10 and a quick ratio of 7.10. Empire State Realty Trust has a 12-month low of $15.19 and a 12-month high of $20.93.

Empire State Realty Trust (NYSE:ESRT) last released its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.14). The firm had revenue of $123.62 million during the quarter, compared to the consensus estimate of $123.49 million. Empire State Realty Trust had a return on equity of 4.48% and a net margin of 12.39%. Empire State Realty Trust’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 EPS. Research analysts forecast that Empire State Realty Trust will post 0.89 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp lifted its holdings in shares of Empire State Realty Trust by 1.7% in the 2nd quarter. Northern Trust Corp now owns 1,474,316 shares of the real estate investment trust’s stock worth $25,212,000 after acquiring an additional 24,275 shares during the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of Empire State Realty Trust in the 2nd quarter worth about $137,000. Teachers Insurance & Annuity Association of America increased its stake in Empire State Realty Trust by 3.5% in the 2nd quarter. Teachers Insurance & Annuity Association of America now owns 173,806 shares of the real estate investment trust’s stock worth $2,972,000 after buying an additional 5,871 shares during the period. Prudential Financial Inc. increased its stake in Empire State Realty Trust by 17.5% in the 3rd quarter. Prudential Financial Inc. now owns 3,173,134 shares of the real estate investment trust’s stock worth $52,706,000 after buying an additional 472,234 shares during the period. Finally, RVB Capital Management LLC increased its stake in Empire State Realty Trust by 12.0% in the 2nd quarter. RVB Capital Management LLC now owns 700,000 shares of the real estate investment trust’s stock worth $11,970,000 after buying an additional 75,000 shares during the period. Hedge funds and other institutional investors own 71.35% of the company’s stock.

About Empire State Realty Trust

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

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