Empire State Realty Trust (NYSE:ESRT) Lowered to “Sell” Rating by StockNews.com

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

Empire State Realty Trust Stock Performance

Shares of Empire State Realty Trust stock opened at $8.20 on Wednesday. The firm has a market capitalization of $1.37 billion, a P/E ratio of 29.27 and a beta of 1.39. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. The company has a 50 day moving average price of $9.06 and a 200 day moving average price of $10.17. Empire State Realty Trust has a 52 week low of $7.88 and a 52 week high of $11.62.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.19. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. The company had revenue of $155.13 million during the quarter, compared to analyst estimates of $192.62 million. Sell-side analysts expect that Empire State Realty Trust will post 0.88 EPS for the current year.

Insiders Place Their Bets

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $10.10, for a total transaction of $101,000.00. Following the completion of the transaction, the executive vice president now directly owns 86,807 shares of the company’s stock, valued at approximately $876,750.70. This trade represents a 10.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 13.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Empire State Realty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in ESRT. Principal Financial Group Inc. grew its stake in shares of Empire State Realty Trust by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 98,013 shares of the real estate investment trust’s stock worth $1,086,000 after purchasing an additional 3,141 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Empire State Realty Trust during the 3rd quarter worth approximately $256,000. Victory Capital Management Inc. grew its stake in shares of Empire State Realty Trust by 7.3% during the 3rd quarter. Victory Capital Management Inc. now owns 262,687 shares of the real estate investment trust’s stock worth $2,911,000 after purchasing an additional 17,777 shares during the period. Metis Global Partners LLC grew its stake in shares of Empire State Realty Trust by 38.8% during the 3rd quarter. Metis Global Partners LLC now owns 14,265 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 3,987 shares during the period. Finally, Natixis Advisors LLC acquired a new stake in shares of Empire State Realty Trust during the 3rd quarter worth approximately $844,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

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.