Empire State Realty Trust (NYSE:ESRT) Cut to C+ at TheStreet

TheStreet downgraded shares of Empire State Realty Trust (NYSE:ESRT) from a b rating to a c+ rating in a research report released on Thursday, November 16th.

Several other brokerages have also commented on ESRT. BidaskClub lowered shares of Empire State Realty Trust from a hold rating to a sell rating in a report on Tuesday, July 25th. Zacks Investment Research lowered shares of Empire State Realty Trust from a buy rating to a hold rating in a report on Friday, November 3rd. Finally, BMO Capital Markets reiterated a buy rating and set a $23.00 target price on shares of Empire State Realty Trust in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $22.50.

Shares of Empire State Realty Trust (NYSE:ESRT) opened at $20.28 on Thursday. Empire State Realty Trust has a one year low of $19.53 and a one year high of $21.98. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.93 and a current ratio of 4.93. The stock has a market cap of $3,240.00, a PE ratio of 20.91, a P/E/G ratio of 5.15 and a beta of 0.98.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01). Empire State Realty Trust had a net margin of 11.90% and a return on equity of 3.98%. The firm had revenue of $122.39 million during the quarter, compared to analysts’ expectations of $122.22 million. During the same period last year, the company earned $0.26 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. equities analysts expect that Empire State Realty Trust will post 0.95 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Thursday, December 14th. Empire State Realty Trust’s dividend payout ratio is presently 105.00%.

Several hedge funds and other institutional investors have recently bought and sold shares of ESRT. California Public Employees Retirement System grew 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 buying an additional 1,900 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Empire State Realty Trust by 21.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,057,348 shares of the real estate investment trust’s stock worth $42,463,000 after purchasing an additional 357,974 shares during the last quarter. BlackRock Inc. grew its position in Empire State Realty Trust by 3,596.9% during the 1st quarter. BlackRock Inc. now owns 6,901,650 shares of the real estate investment trust’s stock worth $142,448,000 after purchasing an additional 6,714,963 shares during the last quarter. State Street Corp grew its position in Empire State Realty Trust by 7.1% during the 1st quarter. State Street Corp now owns 1,892,698 shares of the real estate investment trust’s stock worth $39,070,000 after purchasing an additional 124,841 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in Empire State Realty Trust by 10.5% during the 1st quarter. Nuveen Asset Management LLC now owns 26,906 shares of the real estate investment trust’s stock worth $555,000 after purchasing an additional 2,563 shares during the last quarter. 82.51% of the stock is currently owned by hedge funds and other institutional investors.

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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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