Analysts forecast that Empire State Realty Trust Inc (NYSE:ESRT) will announce earnings per share of $0.24 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Empire State Realty Trust’s earnings, with the lowest EPS estimate coming in at $0.24 and the highest estimate coming in at $0.25. Empire State Realty Trust posted earnings per share of $0.26 in the same quarter last year, which would indicate a negative year over year growth rate of 7.7%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, October 30th.

According to Zacks, analysts expect that Empire State Realty Trust will report full-year earnings of $0.89 per share for the current financial year, with EPS estimates ranging from $0.87 to $0.90. For the next financial year, analysts expect that the company will report earnings of $0.89 per share, with EPS estimates ranging from $0.87 to $0.91. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Empire State Realty Trust.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings results on Wednesday, July 25th. The real estate investment trust reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. Empire State Realty Trust had a net margin of 12.72% and a return on equity of 4.62%. The business had revenue of $124.04 million for the quarter, compared to analysts’ expectations of $122.58 million. During the same period in the previous year, the company earned $0.25 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year.

ESRT has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, April 17th. ValuEngine lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Evercore ISI lowered shares of Empire State Realty Trust from an “outperform” rating to an “inline” rating in a research report on Monday, June 11th. BTIG Research lowered shares of Empire State Realty Trust from a “buy” rating to a “hold” rating and set a $24.00 price objective on the stock. in a research report on Tuesday, July 31st. Finally, Bank of America lowered shares of Empire State Realty Trust from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research report on Tuesday, August 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Empire State Realty Trust currently has an average rating of “Hold” and an average price target of $20.86.

In other Empire State Realty Trust news, major shareholder Quark Holding Llc purchased 284,015 shares of the stock in a transaction dated Thursday, May 31st. The shares were bought at an average price of $16.72 per share, with a total value of $4,748,730.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David A. Karp purchased 4,500 shares of the stock in a transaction dated Monday, July 30th. The stock was acquired at an average cost of $16.19 per share, for a total transaction of $72,855.00. Following the transaction, the chief financial officer now owns 5,500 shares of the company’s stock, valued at $89,045. The disclosure for this purchase can be found here. Insiders own 11.50% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ESRT. Nisa Investment Advisors LLC bought a new stake in shares of Empire State Realty Trust in the second quarter valued at approximately $137,000. Eqis Capital Management Inc. bought a new stake in shares of Empire State Realty Trust in the second quarter valued at approximately $172,000. Brown Advisory Inc. bought a new stake in shares of Empire State Realty Trust in the first quarter valued at approximately $177,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Empire State Realty Trust in the second quarter valued at approximately $184,000. Finally, Cornerstone Wealth Management LLC bought a new stake in shares of Empire State Realty Trust in the second quarter valued at approximately $200,000. 74.09% of the stock is currently owned by institutional investors.

Empire State Realty Trust stock traded down $0.12 during midday trading on Friday, hitting $16.98. 904,075 shares of the stock were exchanged, compared to its average volume of 1,176,292. Empire State Realty Trust has a 52-week low of $15.94 and a 52-week high of $21.09. The stock has a market cap of $2.87 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 4.82 and a beta of 0.90. The company has a debt-to-equity ratio of 0.97, a quick ratio of 9.00 and a current ratio of 7.10.

Empire State Realty Trust Company 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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