Evercore ISI upgraded shares of Empire State Realty Trust (NYSE:ESRT) from an in rating to a line rating in a research report report published on Monday, MarketBeat reports. They currently have $23.00 price target on the real estate investment trust’s stock.

Several other brokerages have also recently issued reports on ESRT. TheStreet cut shares of Empire State Realty Trust from a b rating to a c+ rating in a research note on Thursday, November 16th. Zacks Investment Research cut shares of Empire State Realty Trust from a buy rating to a hold rating in a research note on Friday, November 3rd. BMO Capital Markets reaffirmed a buy rating and set a $23.00 price objective on shares of Empire State Realty Trust in a research note on Wednesday, November 1st. Finally, BidaskClub cut shares of Empire State Realty Trust from a hold rating to a sell rating in a research note on Saturday, October 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Empire State Realty Trust presently has an average rating of Hold and a consensus price target of $22.50.

Empire State Realty Trust (ESRT) traded up $0.10 during midday trading on Monday, reaching $20.35. 740,300 shares of the company were exchanged, compared to its average volume of 866,106. The firm has a market capitalization of $3,211.97, a P/E ratio of 20.88, a PEG ratio of 5.15 and a beta of 0.98. Empire State Realty Trust has a 52 week low of $19.54 and a 52 week high of $21.98. The company has a quick ratio of 4.93, a current ratio of 4.93 and a debt-to-equity ratio of 0.80.

Empire State Realty Trust (NYSE:ESRT) last posted its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The business had revenue of $122.39 million for the quarter, compared to analyst estimates of $122.22 million. Empire State Realty Trust had a net margin of 11.90% and a return on equity of 3.98%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. equities analysts predict that Empire State Realty Trust will post 0.94 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.105 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.42 dividend on an annualized basis and a yield of 2.06%. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 107.70%.

In related news, Chairman Anthony E. Malkin sold 1,243,163 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $20.45, for a total value of $25,422,683.35. Following the transaction, the chairman now directly owns 156,416 shares of the company’s stock, valued at approximately $3,198,707.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 11.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of ESRT. Bank of Montreal Can lifted its stake in shares of Empire State Realty Trust by 1,471.8% in the second quarter. Bank of Montreal Can now owns 143,158 shares of the real estate investment trust’s stock valued at $2,974,000 after purchasing an additional 134,050 shares during the period. Aperio Group LLC grew its holdings in shares of Empire State Realty Trust by 22.7% during the second quarter. Aperio Group LLC now owns 21,229 shares of the real estate investment trust’s stock worth $441,000 after buying an additional 3,927 shares in the last quarter. NGAM Advisors L.P. grew its holdings in shares of Empire State Realty Trust by 7.9% during the second quarter. NGAM Advisors L.P. now owns 240,649 shares of the real estate investment trust’s stock worth $4,998,000 after buying an additional 17,692 shares in the last quarter. First Mercantile Trust Co. grew its holdings in Empire State Realty Trust by 4.6% in the second quarter. First Mercantile Trust Co. now owns 11,324 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 494 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in Empire State Realty Trust by 44.8% in the second quarter. Advisors Asset Management Inc. now owns 8,578 shares of the real estate investment trust’s stock valued at $178,000 after purchasing an additional 2,653 shares during the period. 82.51% of the stock is currently owned by institutional investors.

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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, including the Empire State Building. The Company operates through two segments: Real Estate and Observatory.

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