Analysts expect Empire State Realty Trust Inc (NYSE:ESRT) to post sales of $123.37 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Empire State Realty Trust’s earnings. The lowest sales estimate is $123.26 million and the highest is $123.48 million. Empire State Realty Trust reported sales of $122.39 million during the same quarter last year, which would suggest a positive year over year growth rate of 0.8%. The business is scheduled to issue its next earnings report on Tuesday, October 30th.

According to Zacks, analysts expect that Empire State Realty Trust will report full year sales of $493.22 million for the current year, with estimates ranging from $492.09 million to $494.35 million. For the next year, analysts anticipate that the business will report sales of $507.53 million per share, with estimates ranging from $503.21 million to $511.85 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Empire State Realty Trust.

Empire State Realty Trust (NYSE:ESRT) last posted its earnings results on Wednesday, July 25th. The real estate investment trust reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The firm had revenue of $124.04 million for the quarter, compared to the consensus estimate of $122.58 million. Empire State Realty Trust had a net margin of 12.72% and a return on equity of 4.62%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share.

ESRT has been the topic of several analyst reports. ValuEngine downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Zacks Investment Research downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, April 25th. BTIG Research downgraded Empire State Realty Trust from a “buy” rating to a “hold” rating and set a $24.00 price target on the stock. in a research report on Tuesday, July 31st. Bank of America downgraded Empire State Realty Trust from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research report on Tuesday, August 7th. Finally, Evercore ISI downgraded Empire State Realty Trust from an “outperform” rating to an “inline” rating in a research report on Monday, June 11th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $20.86.

In other Empire State Realty Trust news, CFO David A. Karp purchased 4,500 shares of the stock in a transaction dated Monday, July 30th. The shares were bought at an average cost of $16.19 per share, with a total value of $72,855.00. Following the completion of the transaction, the chief financial officer now owns 5,500 shares in the company, valued at approximately $89,045. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Quark Holding Llc purchased 284,015 shares of the stock in a transaction dated Thursday, May 31st. The stock was acquired at an average cost of $16.72 per share, for a total transaction of $4,748,730.80. The disclosure for this purchase can be found here. Company insiders own 11.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Heitman Real Estate Securities LLC lifted its stake in shares of Empire State Realty Trust by 19.1% in the second quarter. Heitman Real Estate Securities LLC now owns 2,647,068 shares of the real estate investment trust’s stock valued at $49,524,000 after buying an additional 424,538 shares during the period. Citadel Advisors LLC lifted its stake in shares of Empire State Realty Trust by 109.7% in the second quarter. Citadel Advisors LLC now owns 3,444,342 shares of the real estate investment trust’s stock valued at $58,899,000 after buying an additional 1,801,601 shares during the period. FMR LLC lifted its stake in shares of Empire State Realty Trust by 56.9% in the second quarter. FMR LLC now owns 2,512,906 shares of the real estate investment trust’s stock valued at $42,971,000 after buying an additional 911,543 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Empire State Realty Trust by 2.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,330,526 shares of the real estate investment trust’s stock valued at $39,852,000 after buying an additional 53,189 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Empire State Realty Trust by 1.1% in the second quarter. Legal & General Group Plc now owns 1,253,647 shares of the real estate investment trust’s stock valued at $21,438,000 after buying an additional 13,972 shares during the period. Institutional investors and hedge funds own 74.09% of the company’s stock.

Empire State Realty Trust stock traded down $0.12 during mid-day trading on Tuesday, hitting $16.98. 904,075 shares of the company’s stock were exchanged, compared to its average volume of 1,176,292. The company has a debt-to-equity ratio of 0.97, a current ratio of 7.10 and a quick ratio of 9.00. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 4.82 and a beta of 0.90. Empire State Realty Trust has a 1-year low of $15.94 and a 1-year high of $21.09.

About Empire State Realty Trust

Empire State Realty Trust, Inc (NYSE:ESRT), a leading real estate investment trust (REIT), 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 world's most famous building.

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