Empire State Realty Trust (ESRT) PT Set at $22.00 by BMO Capital Markets

Empire State Realty Trust (NYSE:ESRT) received a $22.00 price target from equities research analysts at BMO Capital Markets in a research note issued on Wednesday. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. BMO Capital Markets’ price target indicates a potential upside of 25.00% from the stock’s current price.

A number of other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. TheStreet lowered shares of Empire State Realty Trust from a “b” rating to a “c+” rating in a research report on Thursday, November 16th. Evercore ISI upgraded shares of Empire State Realty Trust from an “in” rating to a “line” rating and set a $23.00 target price on the stock in a research report on Monday, December 4th. BidaskClub lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, October 28th. Finally, Stifel Nicolaus decreased their target price on shares of Empire State Realty Trust from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.80.

Shares of Empire State Realty Trust (ESRT) opened at $17.60 on Wednesday. Empire State Realty Trust has a 1 year low of $17.48 and a 1 year high of $21.98. The company has a market cap of $2,810.00, a P/E ratio of 44.00, a PEG ratio of 4.46 and a beta of 0.86. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.93 and a quick ratio of 4.93.

Empire State Realty Trust (NYSE:ESRT) last announced its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.25. Empire State Realty Trust had a net margin of 11.90% and a return on equity of 3.98%. The firm had revenue of $183.10 million for the quarter, compared to analyst estimates of $123.85 million. During the same quarter last year, the business earned $0.25 earnings per share. Empire State Realty Trust’s revenue was up 2.1% compared to the same quarter last year. sell-side analysts predict that Empire State Realty Trust will post 0.93 EPS for the current fiscal year.

In other Empire State Realty Trust news, Chairman Anthony E. Malkin sold 1,243,163 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $20.45, for a total transaction of $25,422,683.35. Following the transaction, the chairman now owns 156,416 shares of the company’s stock, valued at $3,198,707.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 11.80% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB purchased a new position in Empire State Realty Trust during the fourth quarter worth approximately $208,000. Macquarie Group Ltd. raised its stake in Empire State Realty Trust by 15.7% during the fourth quarter. Macquarie Group Ltd. now owns 621,588 shares of the real estate investment trust’s stock worth $12,591,000 after purchasing an additional 84,460 shares during the period. Cornerstone Capital Management Holdings LLC. raised its stake in Empire State Realty Trust by 105.0% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 289,817 shares of the real estate investment trust’s stock worth $5,949,000 after purchasing an additional 148,472 shares during the period. California State Teachers Retirement System raised its stake in Empire State Realty Trust by 1.7% during the fourth quarter. California State Teachers Retirement System now owns 216,445 shares of the real estate investment trust’s stock worth $4,444,000 after purchasing an additional 3,585 shares during the period. Finally, Two Sigma Investments LP raised its stake in Empire State Realty Trust by 81.0% during the fourth quarter. Two Sigma Investments LP now owns 442,604 shares of the real estate investment trust’s stock worth $9,087,000 after purchasing an additional 198,038 shares during the period. 83.50% of the stock is currently owned by institutional investors.

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About Empire State Realty Trust

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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