Empire State Realty Trust, Inc. (NYSE:ESRT) was downgraded by stock analysts at TheStreet from a “b” rating to a “c+” rating in a research note issued on Thursday.

Several other analysts have also recently weighed in on ESRT. BidaskClub raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Zacks Investment Research cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued 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, four have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.00.

Shares of Empire State Realty Trust (NYSE:ESRT) traded down $0.09 during trading hours on Thursday, reaching $20.47. 442,056 shares of the company traded hands, compared to its average volume of 793,252. The firm has a market capitalization of $3,250.00, a PE ratio of 21.09, a price-to-earnings-growth ratio of 5.14 and a beta of 0.99. Empire State Realty Trust has a 52-week low of $19.43 and a 52-week high of $21.98. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.80.

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

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Institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its position in shares of Empire State Realty Trust by 9.4% during the second quarter. The Manufacturers Life Insurance Company now owns 5,571 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 479 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Empire State Realty Trust by 13.8% during the second quarter. SG Americas Securities LLC now owns 7,137 shares of the real estate investment trust’s stock worth $148,000 after acquiring an additional 865 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Empire State Realty Trust during the third quarter worth approximately $153,000. Advisor Group Inc. grew its position in shares of Empire State Realty Trust by 22.1% during the second quarter. Advisor Group Inc. now owns 8,344 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 1,510 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Empire State Realty Trust by 15.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,440 shares of the real estate investment trust’s stock worth $175,000 after acquiring an additional 1,122 shares during the last quarter. Institutional investors own 82.90% of the company’s stock.

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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