Empire State Realty Trust (NYSE:ESRT) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Empire State Realty Trust (NYSE:ESRT) had its price objective upped by stock analysts at BMO Capital Markets from $12.00 to $13.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 23.34% from the company’s current price.

A number of other analysts have also weighed in on ESRT. Wells Fargo & Company raised their target price on Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Wednesday, September 11th. StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd.

Empire State Realty Trust Stock Performance

Shares of ESRT opened at $10.54 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 4.05. Empire State Realty Trust has a 12-month low of $8.39 and a 12-month high of $11.62. The stock has a market capitalization of $1.76 billion, a P/E ratio of 39.04 and a beta of 1.40. The firm’s 50 day moving average is $10.86 and its 200-day moving average is $10.19.

Empire State Realty Trust (NYSE:ESRT) last announced its earnings results on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). Empire State Realty Trust had a return on equity of 2.73% and a net margin of 6.22%. The company had revenue of $199.60 million for the quarter. During the same period in the prior year, the firm earned $0.25 earnings per share. Equities research analysts anticipate that Empire State Realty Trust will post 0.93 EPS for the current fiscal year.

Institutional Trading of Empire State Realty Trust

Hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Empire State Realty Trust during the 3rd quarter worth approximately $25,000. Signaturefd LLC increased its position in shares of Empire State Realty Trust by 81.6% during the 3rd quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,524 shares during the last quarter. Loomis Sayles & Co. L P grew its position in Empire State Realty Trust by 3,139.1% during the third quarter. Loomis Sayles & Co. L P now owns 4,470 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 4,332 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Empire State Realty Trust by 35.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 1,419 shares during the period. Finally, Ballentine Partners LLC bought a new stake in shares of Empire State Realty Trust in the 3rd quarter worth approximately $129,000. Institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Company Profile

Empire State Realty Trust, Inc (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. The company is the recognized leader in energy efficiency and indoor environmental quality. ESRT’s flagship Empire State Building – the “World’s Most Famous Building” – includes its Observatory, Tripadvisor’s 2023 Travelers’ Choice Awards: Best of the Best the #1 attraction in the US for two consecutive years.