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

Empire State Realty Trust (NYSE:ESRT) had its price objective increased by BMO Capital Markets from $12.00 to $13.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

ESRT has been the subject of several other research reports. StockNews.com lowered Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. Wells Fargo & Company increased their price target on Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Wednesday, September 11th.

Empire State Realty Trust Stock Up 0.5 %

Shares of ESRT traded up $0.05 during midday trading on Friday, reaching $10.59. 1,215,676 shares of the stock were exchanged, compared to its average volume of 1,131,191. The company has a current ratio of 3.72, a quick ratio of 4.05 and a debt-to-equity ratio of 1.23. The company’s 50 day moving average is $10.87 and its two-hundred day moving average is $10.20. The company has a market capitalization of $1.76 billion, a P/E ratio of 39.26 and a beta of 1.40. Empire State Realty Trust has a 52 week low of $8.39 and a 52 week high of $11.62.

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

Hedge Funds Weigh In On Empire State Realty Trust

A number of institutional investors have recently bought and sold shares of the business. Vision Capital Corp raised its stake in shares of Empire State Realty Trust by 79.9% during the 3rd quarter. Vision Capital Corp now owns 2,802,948 shares of the real estate investment trust’s stock valued at $31,057,000 after buying an additional 1,245,211 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Empire State Realty Trust by 392.0% during the third 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 worth $12,180,000 after acquiring an additional 875,836 shares during the period. Lighthouse Investment Partners LLC purchased a new position in Empire State Realty Trust during the second quarter valued at approximately $7,926,000. 1832 Asset Management L.P. acquired a new position in Empire State Realty Trust in the second quarter valued at approximately $4,573,000. Finally, Jupiter Asset Management Ltd. purchased a new stake in Empire State Realty Trust in the 1st quarter worth approximately $2,896,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Empire State Realty Trust Company Profile

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.