Empire State Realty Trust (NYSE:ESRT) Stock Rating Upgraded by StockNews.com

Empire State Realty Trust (NYSE:ESRT) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Empire State Realty Trust Stock Up 1.0 %

Shares of Empire State Realty Trust stock opened at $9.21 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 7.04 and a current ratio of 7.04. Empire State Realty Trust has a 52-week low of $5.43 and a 52-week high of $10.32. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 30.70, a P/E/G ratio of 3.44 and a beta of 1.30. The company’s 50 day moving average price is $9.68 and its 200-day moving average price is $9.35.

Hedge Funds Weigh In On Empire State Realty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Investment Counsel Inc grew its stake in shares of Empire State Realty Trust by 7.4% in the third quarter. Capital Investment Counsel Inc now owns 17,400 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 1,200 shares during the period. Verdence Capital Advisors LLC grew its position in Empire State Realty Trust by 5.2% during the third quarter. Verdence Capital Advisors LLC now owns 32,950 shares of the real estate investment trust’s stock valued at $265,000 after buying an additional 1,626 shares during the period. Vert Asset Management LLC grew its position in Empire State Realty Trust by 3.9% during the first quarter. Vert Asset Management LLC now owns 54,897 shares of the real estate investment trust’s stock valued at $556,000 after buying an additional 2,050 shares during the period. Nisa Investment Advisors LLC grew its position in Empire State Realty Trust by 3.9% during the third quarter. Nisa Investment Advisors LLC now owns 60,559 shares of the real estate investment trust’s stock valued at $487,000 after buying an additional 2,254 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in Empire State Realty Trust by 17.9% during the third quarter. Van ECK Associates Corp now owns 17,475 shares of the real estate investment trust’s stock valued at $140,000 after purchasing an additional 2,647 shares in the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.

About Empire State Realty Trust

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.