Prudential Financial Inc. lifted its stake in Empire State Realty Trust Inc (NYSE:ESRT) by 17.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,173,134 shares of the real estate investment trust’s stock after buying an additional 472,234 shares during the period. Prudential Financial Inc.’s holdings in Empire State Realty Trust were worth $52,706,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC bought a new stake in shares of Empire State Realty Trust in the second quarter worth about $137,000. Eqis Capital Management Inc. bought a new stake in shares of Empire State Realty Trust in the second quarter worth about $172,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Empire State Realty Trust in the second quarter worth about $184,000. Cornerstone Wealth Management LLC bought a new stake in shares of Empire State Realty Trust in the second quarter worth about $200,000. Finally, Levin Capital Strategies L.P. bought a new stake in shares of Empire State Realty Trust in the second quarter worth about $205,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Empire State Realty Trust stock opened at $15.51 on Monday. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.96. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 6.15 and a beta of 0.88. Empire State Realty Trust Inc has a fifty-two week low of $15.39 and a fifty-two week high of $20.93.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.14). The firm had revenue of $123.62 million for the quarter, compared to the consensus estimate of $123.49 million. Empire State Realty Trust had a net margin of 12.39% and a return on equity of 4.48%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 earnings per share. As a group, analysts forecast that Empire State Realty Trust Inc will post 0.89 earnings per share for the current year.

Several analysts recently issued reports on ESRT shares. Zacks Investment Research raised Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, July 30th. BTIG Research cut Empire State Realty Trust from a “buy” rating to a “hold” rating and set a $24.00 target price on the stock. in a research note on Tuesday, July 31st. Finally, Bank of America cut Empire State Realty Trust from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Empire State Realty Trust has an average rating of “Hold” and a consensus price target of $20.50.

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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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Institutional Ownership by Quarter for Empire State Realty Trust (NYSE:ESRT)

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