Zacks Investment Research lowered shares of Empire State Realty Trust Inc. (NYSE:ESRT) from a hold rating to a sell rating in a research report released on Tuesday morning.

According to Zacks, “Empire State Realty Trust, Inc. is a real estate investment trust which owns, manages, operates, acquires and repositions office and retail properties primarily in Manhattan and New York metropolitan area. Empire State Realty Trust, Inc. is based in New York, United States. “

ESRT has been the subject of several other reports. BTIG Research began coverage on shares of Empire State Realty Trust in a report on Thursday, August 25th. They set a buy rating and a $24.00 price objective for the company. TheStreet raised shares of Empire State Realty Trust from a sell rating to a hold rating in a report on Monday, October 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $20.60.

Shares of Empire State Realty Trust (NYSE:ESRT) opened at 20.25 on Tuesday. Empire State Realty Trust has a 12 month low of $14.58 and a 12 month high of $22.31. The company’s 50 day moving average is $20.88 and its 200-day moving average is $19.76. The company has a market cap of $2.51 billion, a P/E ratio of 64.29 and a beta of 0.96.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by $0.02. The firm had revenue of $165.80 million for the quarter, compared to the consensus estimate of $116.59 million. Empire State Realty Trust had a return on equity of 4.73% and a net margin of 10.33%. Empire State Realty Trust’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. Analysts expect that Empire State Realty Trust will post $0.94 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Thursday, September 15th. Empire State Realty Trust’s dividend payout ratio (DPR) is currently 131.25%.

Large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake in shares of Empire State Realty Trust by 0.4% in the first quarter. Meeder Asset Management Inc. now owns 9,607 shares of the real estate investment trust’s stock worth $169,000 after buying an additional 36 shares during the period. BlackRock Japan Co. Ltd boosted its stake in shares of Empire State Realty Trust by 1.4% in the first quarter. BlackRock Japan Co. Ltd now owns 6,216 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 87 shares during the period. Barclays PLC boosted its stake in shares of Empire State Realty Trust by 1.3% in the second quarter. Barclays PLC now owns 9,701 shares of the real estate investment trust’s stock worth $184,000 after buying an additional 123 shares during the period. US Bancorp DE boosted its stake in shares of Empire State Realty Trust by 1.9% in the second quarter. US Bancorp DE now owns 16,879 shares of the real estate investment trust’s stock worth $320,000 after buying an additional 313 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Empire State Realty Trust by 1.4% in the second quarter. Principal Financial Group Inc. now owns 27,976 shares of the real estate investment trust’s stock worth $531,000 after buying an additional 383 shares during the period. Institutional investors and hedge funds own 77.28% of the company’s stock.

Empire State Realty Trust Company Profile

Empire State Realty Trust, Inc is a real estate investment trust. The Company owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area. The Company’s segments include Real Estate, Observatory and Other. The Real Estate segment includes the Company’s activities related to the ownership, management, operation, acquisition, repositioning and disposition of its real estate assets.

5 Day Chart for NYSE:ESRT

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