Empire State Realty Trust (NYSE:ESRT) Downgraded to “Underweight” at KeyCorp

Empire State Realty Trust (NYSE:ESRT) was downgraded by equities research analysts at KeyCorp from an “overweight” rating to an “underweight” rating in a research report issued to clients and investors on Thursday, PriceTargets.com reports. They presently have a $8.00 price target on the real estate investment trust’s stock, down from their prior price target of $13.00. KeyCorp’s price target suggests a potential downside of 18.20% from the stock’s current price.

ESRT has been the topic of several other reports. Zacks Investment Research downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Tuesday. Evercore ISI lowered shares of Empire State Realty Trust from an “outperform” rating to an “in-line” rating and decreased their target price for the stock from $11.50 to $10.50 in a research note on Monday, December 6th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $12.00.

Shares of Empire State Realty Trust stock opened at $9.78 on Thursday. Empire State Realty Trust has a 52 week low of $8.36 and a 52 week high of $13.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 9.24 and a current ratio of 9.24. The stock’s 50-day simple moving average is $9.53 and its 200-day simple moving average is $10.37.

Empire State Realty Trust (NYSE:ESRT) last released its earnings results on Wednesday, October 27th. The real estate investment trust reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.20). Empire State Realty Trust had a negative net margin of 0.57% and a negative return on equity of 0.20%. During the same period in the prior year, the firm posted $0.12 EPS. Research analysts predict that Empire State Realty Trust will post 0.63 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Segall Bryant & Hamill LLC grew its holdings in Empire State Realty Trust by 2.0% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,187,776 shares of the real estate investment trust’s stock worth $11,917,000 after acquiring an additional 23,728 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Empire State Realty Trust by 6.5% in the third quarter. UBS Asset Management Americas Inc. now owns 778,123 shares of the real estate investment trust’s stock worth $7,805,000 after acquiring an additional 47,539 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Empire State Realty Trust by 2.9% in the third quarter. Bank of New York Mellon Corp now owns 811,268 shares of the real estate investment trust’s stock worth $8,138,000 after acquiring an additional 22,548 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Empire State Realty Trust during the third quarter worth approximately $147,000. Finally, UBS Group AG lifted its stake in Empire State Realty Trust by 216.0% in the third quarter. UBS Group AG now owns 335,406 shares of the real estate investment trust’s stock valued at $3,364,000 after acquiring an additional 229,267 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.

About Empire State Realty Trust

Empire State Realty Trust, Inc is a real estate investment trust, which engages in owning, managing, acquiring, and repositioning office and retail properties. It operates through the Real Estate and Observatory segments. The Real Estate segment includes ownership, management, operation, acquisition, repositioning, and disposition of real estate assets.

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Analyst Recommendations for Empire State Realty Trust (NYSE:ESRT)

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