Empire State Realty Trust, Inc. (NYSE:ESRT)‘s stock had its “buy” rating reiterated by equities researchers at BMO Capital Markets in a research note issued to investors on Wednesday. They presently have a $23.00 target price on the real estate investment trust’s stock. BMO Capital Markets’ target price would suggest a potential upside of 15.23% from the stock’s current price.

Several other research firms also recently issued reports on ESRT. BidaskClub upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Zacks Investment Research raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating and set a $23.00 price target for the company in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Empire State Realty Trust presently has a consensus rating of “Hold” and an average price target of $22.00.

Empire State Realty Trust (NYSE:ESRT) last issued its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.26 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the firm posted $0.26 EPS.

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A number of hedge funds have recently made changes to their positions in the business. Daiwa Securities Group Inc. grew its holdings in Empire State Realty Trust by 0.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 7,322,597 shares of the real estate investment trust’s stock worth $150,407,000 after acquiring an additional 20,312 shares in the last quarter. BlackRock Inc. grew its holdings in Empire State Realty Trust by 3.3% during the 2nd quarter. BlackRock Inc. now owns 7,131,040 shares of the real estate investment trust’s stock worth $148,111,000 after acquiring an additional 229,390 shares in the last quarter. Resolution Capital Ltd grew its holdings in Empire State Realty Trust by 11.6% during the 3rd quarter. Resolution Capital Ltd now owns 6,051,122 shares of the real estate investment trust’s stock worth $124,290,000 after acquiring an additional 628,944 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Empire State Realty Trust by 4.7% during the 2nd quarter. Alliancebernstein L.P. now owns 4,444,929 shares of the real estate investment trust’s stock worth $92,321,000 after acquiring an additional 198,972 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Empire State Realty Trust by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 4,143,964 shares of the real estate investment trust’s stock valued at $86,070,000 after buying an additional 411,503 shares during the period. 83.71% of the stock is owned by institutional investors.

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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