Empire State Realty Trust, Inc. (NYSE:ESRT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.

According to Zacks, “Empire State Realty Trust, Inc. is a real estate investment trust which owns, manages, operates, acquires and repositions office and retail properties primarily in Manhattan and New York metropolitan area. Empire State Realty Trust, Inc. is based in New York, United States. “

Several other analysts have also commented on the stock. BidaskClub lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. TheStreet raised shares of Empire State Realty Trust from a “c+” rating to a “b” rating in a research report on Tuesday, October 31st. Finally, BMO Capital Markets reissued a “buy” rating and set a $23.00 price target on shares of Empire State Realty Trust in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Empire State Realty Trust presently has an average rating of “Hold” and an average price target of $22.00.

Empire State Realty Trust (NYSE:ESRT) traded down $0.17 during mid-day trading on Friday, hitting $20.02. 441,809 shares of the company’s stock traded hands, compared to its average volume of 914,873. The stock has a market capitalization of $3,155.81, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 5.47 and a beta of 0.99. Empire State Realty Trust has a 1-year low of $18.66 and a 1-year high of $21.98. The company has a current ratio of 5.11, a quick ratio of 5.11 and a debt-to-equity ratio of 0.80.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.01). The firm had revenue of $122.39 million for the quarter, compared to analysts’ expectations of $122.22 million. Empire State Realty Trust had a net margin of 11.90% and a return on equity of 3.98%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 earnings per share. sell-side analysts expect that Empire State Realty Trust will post 0.96 EPS for the current year.

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Several institutional investors have recently made changes to their positions in ESRT. California Public Employees Retirement System raised its position in shares of Empire State Realty Trust by 1.3% in the 1st quarter. California Public Employees Retirement System now owns 152,400 shares of the real estate investment trust’s stock valued at $3,146,000 after purchasing an additional 1,900 shares during the last quarter. Thrivent Financial For Lutherans raised its position in shares of Empire State Realty Trust by 3.8% in the 1st quarter. Thrivent Financial For Lutherans now owns 45,009 shares of the real estate investment trust’s stock valued at $929,000 after purchasing an additional 1,666 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Empire State Realty Trust by 4.5% in the 1st quarter. Geode Capital Management LLC now owns 903,200 shares of the real estate investment trust’s stock valued at $18,642,000 after purchasing an additional 38,978 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Empire State Realty Trust by 21.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,057,348 shares of the real estate investment trust’s stock valued at $42,463,000 after purchasing an additional 357,974 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Empire State Realty Trust by 3,596.9% in the 1st quarter. BlackRock Inc. now owns 6,901,650 shares of the real estate investment trust’s stock valued at $142,448,000 after purchasing an additional 6,714,963 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

About Empire State Realty Trust

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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