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

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

Empire State Realty Trust Price Performance

Shares of ESRT stock traded down $0.08 during trading on Wednesday, hitting $8.10. The company had a trading volume of 1,382,942 shares, compared to its average volume of 1,107,322. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. The stock’s 50-day moving average is $9.09 and its two-hundred day moving average is $10.18. The stock has a market capitalization of $1.36 billion, a price-to-earnings 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 posted its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.19. The company had revenue of $155.13 million for the quarter, compared to analysts’ expectations 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, analysts predict 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 stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $10.10, for a total transaction of $101,000.00. Following the transaction, the executive vice president now directly owns 86,807 shares in the company, valued at $876,750.70. This trade represents a 10.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 13.95% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ESRT. Principal Financial Group Inc. grew its position in Empire State Realty Trust by 3.3% during the third quarter. Principal Financial Group Inc. now owns 98,013 shares of the real estate investment trust’s stock valued at $1,086,000 after acquiring an additional 3,141 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Empire State Realty Trust in the third quarter worth approximately $256,000. Victory Capital Management Inc. grew its holdings in shares of Empire State Realty Trust by 7.3% in the third quarter. Victory Capital Management Inc. now owns 262,687 shares of the real estate investment trust’s stock worth $2,911,000 after purchasing an additional 17,777 shares during the last quarter. Metis Global Partners LLC grew its holdings in shares of Empire State Realty Trust by 38.8% in the third quarter. Metis Global Partners LLC now owns 14,265 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 3,987 shares during the last quarter. Finally, Natixis Advisors LLC bought a new position in shares of Empire State Realty Trust in the third quarter worth approximately $844,000. 67.10% of the stock is currently owned by 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.