BMO Capital Markets Increases Empire State Realty Trust (NYSE:ESRT) Price Target to $13.00

Empire State Realty Trust (NYSE:ESRT) had its price target boosted by stock analysts at BMO Capital Markets from $12.00 to $13.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 22.76% from the stock’s previous close.

Other analysts have also recently issued reports about the company. StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd. Wells Fargo & Company raised their price objective on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a report on Wednesday, September 11th.

Empire State Realty Trust Stock Up 0.5 %

Shares of NYSE:ESRT opened at $10.59 on Friday. The company has a 50 day moving average price of $10.87 and a two-hundred day moving average price of $10.20. The company has a debt-to-equity ratio of 1.23, a quick ratio of 4.05 and a current ratio of 3.72. The company has a market capitalization of $1.76 billion, a PE ratio of 39.22 and a beta of 1.40. Empire State Realty Trust has a 52 week low of $8.39 and a 52 week high of $11.62.

Empire State Realty Trust (NYSE:ESRT) last issued its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate 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 business had revenue of $199.60 million for the quarter. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Analysts forecast that Empire State Realty Trust will post 0.93 earnings per share for the current year.

Institutional Investors Weigh In On Empire State Realty Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Empire State Realty Trust in the 3rd quarter valued at $25,000. Signaturefd LLC increased its position in shares of Empire State Realty Trust by 81.6% in the third quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 1,524 shares during the last quarter. Loomis Sayles & Co. L P increased its position in shares of Empire State Realty Trust by 3,139.1% in 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 acquiring an additional 4,332 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Empire State Realty Trust by 35.5% during 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 in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in Empire State Realty Trust during the third quarter valued at approximately $115,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

About Empire State Realty Trust

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.