Empire State Realty Trust (NYSE:ESRT) Rating Increased to Hold at StockNews.com

Empire State Realty Trust (NYSE:ESRTGet Free Report) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Separately, Evercore ISI cut shares of Empire State Realty Trust from an “outperform” rating to an “in-line” rating and set a $9.00 target price for the company. in a research note on Monday, November 27th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.33.

View Our Latest Report on ESRT

Empire State Realty Trust Stock Performance

NYSE ESRT opened at $10.14 on Wednesday. The company has a quick ratio of 7.04, a current ratio of 7.04 and a debt-to-equity ratio of 1.29. The stock has a market cap of $1.66 billion, a P/E ratio of 32.71, a PEG ratio of 3.54 and a beta of 1.30. Empire State Realty Trust has a twelve month low of $5.39 and a twelve month high of $10.32. The company’s 50-day simple moving average is $9.87 and its 200 day simple moving average is $9.13.

Institutional Investors Weigh In On Empire State Realty Trust

A number of institutional investors and hedge funds have recently made changes to their positions in ESRT. Nuveen Asset Management LLC raised its position in shares of Empire State Realty Trust by 252.7% during the second quarter. Nuveen Asset Management LLC now owns 1,961,519 shares of the real estate investment trust’s stock worth $14,692,000 after acquiring an additional 1,405,307 shares during the last quarter. Norges Bank bought a new stake in Empire State Realty Trust in the fourth quarter valued at about $9,268,000. Balyasny Asset Management LLC increased its holdings in Empire State Realty Trust by 711.3% in the third quarter. Balyasny Asset Management LLC now owns 1,416,134 shares of the real estate investment trust’s stock valued at $9,290,000 after purchasing an additional 1,241,584 shares during the last quarter. State Street Corp increased its holdings in Empire State Realty Trust by 15.5% in the first quarter. State Street Corp now owns 7,256,222 shares of the real estate investment trust’s stock valued at $71,256,000 after purchasing an additional 974,740 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in Empire State Realty Trust by 247.0% in the second quarter. Point72 Asset Management L.P. now owns 1,336,800 shares of the real estate investment trust’s stock valued at $10,013,000 after purchasing an additional 951,500 shares during the last quarter. Institutional investors own 80.44% of the company’s stock.

Empire State Realty Trust Company Profile

(Get Free Report)

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.

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