Empire State Realty Trust (NYSE:ESRT) Upgraded to Hold at StockNews.com

Empire State Realty Trust (NYSE:ESRT) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Separately, Wolfe Research raised shares of Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a report on Tuesday, March 25th.

Empire State Realty Trust Price Performance

NYSE ESRT traded down $0.40 during trading hours on Thursday, reaching $7.46. The company’s stock had a trading volume of 2,555,090 shares, compared to its average volume of 1,170,106. Empire State Realty Trust has a 1 year low of $7.21 and a 1 year high of $11.62. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 26.63 and a beta of 1.39. The firm’s 50-day moving average price is $8.71 and its 200-day moving average price is $9.99.

Empire State Realty Trust (NYSE:ESRT) last released its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 EPS for the quarter, topping the consensus estimate of $0.05 by $0.19. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. The firm had revenue of $155.13 million for the quarter, compared to the consensus estimate of $192.62 million. On average, equities research analysts predict that Empire State Realty Trust will post 0.88 EPS for the current fiscal year.

Insider Activity at Empire State Realty Trust

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 5,779 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $8.03, for a total transaction of $46,405.37. Following the sale, the executive vice president now directly owns 56,028 shares of the company’s stock, valued at $449,904.84. The trade was a 9.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 30,122 shares of company stock valued at $242,761 over the last 90 days. 14.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Empire State Realty Trust

Several large investors have recently modified their holdings of ESRT. Employees Retirement System of Texas lifted its position in Empire State Realty Trust by 81.6% in the fourth quarter. Employees Retirement System of Texas now owns 512,000 shares of the real estate investment trust’s stock worth $5,284,000 after buying an additional 230,000 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Empire State Realty Trust during the 4th quarter worth approximately $26,000. Pinney & Scofield Inc. bought a new stake in shares of Empire State Realty Trust during the 4th quarter worth approximately $103,000. Two Sigma Advisers LP boosted its holdings in Empire State Realty Trust by 604.8% during the 4th quarter. Two Sigma Advisers LP now owns 132,500 shares of the real estate investment trust’s stock valued at $1,367,000 after acquiring an additional 113,700 shares during the period. Finally, Two Sigma Investments LP grew its position in Empire State Realty Trust by 650.7% in the 4th quarter. Two Sigma Investments LP now owns 185,596 shares of the real estate investment trust’s stock valued at $1,915,000 after acquiring an additional 160,872 shares during the last quarter. Institutional investors own 67.10% of the company’s stock.

About Empire State Realty Trust

Empire State Realty Trust, Inc (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. The company is the recognized leader in energy efficiency and indoor environmental quality. ESRT’s flagship Empire State Building – the “World’s Most Famous Building” – includes its Observatory, Tripadvisor’s 2023 Travelers’ Choice Awards: Best of the Best the #1 attraction in the US for two consecutive years.