Empire State Realty Trust (NYSE:ESRT) Upgraded at Wall Street Zen

Empire State Realty Trust (NYSE:ESRT) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Separately, Wells Fargo & Company cut their price objective on Empire State Realty Trust from $11.00 to $8.30 and set an “underweight” rating for the company in a research report on Monday, May 19th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Empire State Realty Trust has an average rating of “Hold” and a consensus price target of $10.43.

Empire State Realty Trust Price Performance

Shares of NYSE:ESRT opened at $7.6550 on Friday. Empire State Realty Trust has a fifty-two week low of $6.56 and a fifty-two week high of $11.62. The business has a 50-day moving average of $7.80 and a two-hundred day moving average of $7.91. The stock has a market capitalization of $1.30 billion, a P/E ratio of 31.90 and a beta of 1.70. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.03 and a quick ratio of 4.03.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.22 earnings per share for the quarter. Empire State Realty Trust had a return on equity of 2.45% and a net margin of 5.67%.The company had revenue of $153.54 million during the quarter. Empire State Realty Trust has set its FY 2025 guidance at 0.830-0.860 EPS. On average, equities research analysts predict that Empire State Realty Trust will post 0.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Empire State Realty Trust

Several large investors have recently added to or reduced their stakes in ESRT. GF Fund Management CO. LTD. acquired a new position in Empire State Realty Trust in the 4th quarter valued at approximately $26,000. Quantbot Technologies LP acquired a new position in Empire State Realty Trust in the 1st quarter valued at approximately $37,000. State of Wyoming acquired a new position in Empire State Realty Trust in the 4th quarter valued at approximately $54,000. CWM LLC raised its holdings in shares of Empire State Realty Trust by 1,704.7% in the 2nd quarter. CWM LLC now owns 8,121 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 7,671 shares in the last quarter. Finally, Simplex Trading LLC raised its holdings in shares of Empire State Realty Trust by 869.5% in the 2nd quarter. Simplex Trading LLC now owns 8,260 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 7,408 shares in the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Empire State Realty Trust Company Profile

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.