StockNews.com Downgrades Empire State Realty Trust (NYSE:ESRT) to Sell

Empire State Realty Trust (NYSE:ESRT) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Empire State Realty Trust Stock Performance

Shares of NYSE:ESRT traded down $0.08 during midday trading on Wednesday, reaching $8.10. The company had a trading volume of 1,382,942 shares, compared to its average volume of 1,107,322. The company’s 50 day moving average price is $9.09 and its 200 day moving average price is $10.18. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. The stock has a market cap of $1.36 billion, a P/E ratio of 28.91 and a beta of 1.39. Empire State Realty Trust has a 52-week low of $7.88 and a 52-week high of $11.62.

Empire State Realty Trust (NYSE:ESRT) last issued its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.19. The company had revenue of $155.13 million for the quarter, compared to the consensus estimate of $192.62 million. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. As a group, sell-side analysts anticipate that Empire State Realty Trust will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling at Empire State Realty Trust

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $10.10, for a total transaction of $101,000.00. Following the sale, the executive vice president now directly owns 86,807 shares of the company’s stock, valued at $876,750.70. This represents a 10.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 13.95% of the company’s stock.

Institutional Investors Weigh In On Empire State Realty Trust

Several institutional investors have recently added to or reduced their stakes in ESRT. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Empire State Realty Trust in the third quarter worth about $25,000. GF Fund Management CO. LTD. purchased a new stake in shares of Empire State Realty Trust in the fourth quarter worth about $26,000. Sterling Capital Management LLC lifted its holdings in shares of Empire State Realty Trust by 819.7% in the fourth quarter. Sterling Capital Management LLC now owns 4,295 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 3,828 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings 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 worth $50,000 after buying an additional 4,332 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Empire State Realty Trust in the fourth quarter worth about $54,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

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.