Empire State Realty Trust, Inc. (ESRT) Stake Reduced by Credit Suisse AG

Credit Suisse AG lowered its position in Empire State Realty Trust, Inc. (NYSE:ESRT) by 54.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 290,277 shares of the real estate investment trust’s stock after selling 353,834 shares during the period. Credit Suisse AG owned about 0.18% of Empire State Realty Trust worth $5,990,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. bought a new position in shares of Empire State Realty Trust during the first quarter valued at about $122,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Empire State Realty Trust by 8.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,318 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 569 shares during the period. First Mercantile Trust Co. boosted its position in shares of Empire State Realty Trust by 42.7% in the first quarter. First Mercantile Trust Co. now owns 10,830 shares of the real estate investment trust’s stock valued at $224,000 after buying an additional 3,240 shares during the period. TLP Group LLC boosted its position in shares of Empire State Realty Trust by 8,421.5% in the first quarter. TLP Group LLC now owns 11,504 shares of the real estate investment trust’s stock valued at $237,000 after buying an additional 11,369 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Empire State Realty Trust by 22.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,586 shares of the real estate investment trust’s stock valued at $274,000 after buying an additional 2,480 shares during the period. Institutional investors and hedge funds own 83.49% of the company’s stock.

Shares of Empire State Realty Trust, Inc. (NYSE:ESRT) opened at 20.75 on Monday. Empire State Realty Trust, Inc. has a one year low of $18.62 and a one year high of $22.31. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 52.93 and a beta of 1.01. The firm has a 50-day moving average price of $20.71 and a 200-day moving average price of $20.81.

Empire State Realty Trust (NYSE:ESRT) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. The firm had revenue of $120.80 million during the quarter, compared to analysts’ expectations of $118.81 million. Empire State Realty Trust had a net margin of 11.67% and a return on equity of 3.85%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $0.24 earnings per share. Analysts anticipate that Empire State Realty Trust, Inc. will post $0.92 earnings per share for the current fiscal year.

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Several equities analysts recently issued reports on the company. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $21.00 price target on shares of Empire State Realty Trust in a research report on Thursday, June 22nd. TheStreet upgraded Empire State Realty Trust from a “c+” rating to a “b” rating in a research report on Thursday, April 27th. BMO Capital Markets set a $23.00 price target on Empire State Realty Trust and gave the company a “buy” rating in a research report on Wednesday, May 31st. Evercore ISI assumed coverage on Empire State Realty Trust in a research report on Wednesday, May 31st. They issued an “in-line” rating and a $23.00 price target on the stock. Finally, BidaskClub cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $22.20.

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.