Zacks Investment Research upgraded shares of Empire State Realty Trust (NYSE:ESRT) from a sell rating to a hold rating in a report released on Monday, Zacks.com reports.

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. “

Separately, ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Empire State Realty Trust currently has a consensus rating of Hold and an average price target of $19.25.

Shares of NYSE:ESRT opened at $15.05 on Monday. The company has a 50-day simple moving average of $15.33. Empire State Realty Trust has a 1 year low of $13.66 and a 1 year high of $17.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 6.90 and a quick ratio of 6.90. The firm has a market cap of $2.69 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 6.14 and a beta of 0.76.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. Empire State Realty Trust had a return on equity of 3.81% and a net margin of 10.32%. The business had revenue of $143.40 million for the quarter, compared to the consensus estimate of $123.77 million. During the same period in the prior year, the business earned $0.20 EPS. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. Research analysts predict that Empire State Realty Trust will post 0.88 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Thursday, June 13th. Empire State Realty Trust’s dividend payout ratio (DPR) is currently 42.86%.

A number of hedge funds have recently bought and sold shares of ESRT. Marshall Wace North America L.P. bought a new stake in Empire State Realty Trust during the 1st quarter worth approximately $67,000. Quadrant Capital Group LLC bought a new stake in Empire State Realty Trust during the 1st quarter worth approximately $80,000. Nisa Investment Advisors LLC bought a new stake in Empire State Realty Trust during the 1st quarter worth approximately $128,000. BBT Capital Management LLC bought a new stake in Empire State Realty Trust during the 1st quarter worth approximately $178,000. Finally, Yorktown Management & Research Co Inc bought a new stake in Empire State Realty Trust during the 1st quarter worth approximately $180,000. 75.07% of the stock is currently owned by institutional investors and hedge funds.

Empire State Realty Trust Company Profile

Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), 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 world's most famous building.

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