Empire State Realty Trust (NYSE:ESRT) Price Target Raised to $13.00 at BMO Capital Markets

Empire State Realty Trust (NYSE:ESRT) had its target price boosted by stock analysts at BMO Capital Markets from $12.00 to $13.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. BMO Capital Markets’ target price indicates a potential upside of 22.76% from the company’s previous close.

Several other brokerages have also weighed in on ESRT. Wells Fargo & Company increased their price objective on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Wednesday, September 11th. StockNews.com downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd.

Empire State Realty Trust Trading Up 0.5 %

Shares of NYSE:ESRT opened at $10.59 on Friday. Empire State Realty Trust has a 52-week low of $8.39 and a 52-week high of $11.62. The company has a debt-to-equity ratio of 1.23, a quick ratio of 4.05 and a current ratio of 3.72. The company has a market capitalization of $1.76 billion, a P/E ratio of 39.22 and a beta of 1.40. The company has a 50-day simple moving average of $10.87 and a 200 day simple moving average of $10.20.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). The business had revenue of $199.60 million during the quarter. Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.73%. During the same period last year, the firm posted $0.25 earnings per share. Sell-side analysts forecast that Empire State Realty Trust will post 0.93 earnings per share for the current year.

Institutional Trading of Empire State Realty Trust

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Empire State Realty Trust by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 19,287,935 shares of the real estate investment trust’s stock worth $195,387,000 after acquiring an additional 175,718 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Empire State Realty Trust by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,758,869 shares of the real estate investment trust’s stock worth $41,648,000 after buying an additional 171,056 shares in the last quarter. Geode Capital Management LLC boosted its stake in Empire State Realty Trust by 1.1% in the third quarter. Geode Capital Management LLC now owns 3,406,925 shares of the real estate investment trust’s stock valued at $37,756,000 after buying an additional 38,529 shares in the last quarter. Vision Capital Corp raised its stake in Empire State Realty Trust by 79.9% during the third quarter. Vision Capital Corp now owns 2,802,948 shares of the real estate investment trust’s stock worth $31,057,000 after acquiring an additional 1,245,211 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Empire State Realty Trust by 392.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,099,288 shares of the real estate investment trust’s stock valued at $12,180,000 after purchasing an additional 875,836 shares during the last quarter. 67.10% of the stock is owned by institutional investors and hedge funds.

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.