Empire State Realty Trust (NYSE:ESRT) Rating Lowered to Sell at Wall Street Zen

Empire State Realty Trust (NYSE:ESRT) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other research firms have also recently issued reports on ESRT. Citigroup decreased their price objective on shares of Empire State Realty Trust from $5.75 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Empire State Realty Trust in a report on Friday, August 7th. Wells Fargo & Company cut their price target on Empire State Realty Trust from $6.30 to $6.00 and set an “underweight” rating on the stock in a research note on Monday, June 1st. Finally, Evercore set a $5.50 price target on Empire State Realty Trust in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Empire State Realty Trust currently has an average rating of “Sell” and an average price target of $5.50.

Empire State Realty Trust Price Performance

Shares of NYSE:ESRT opened at $4.82 on Friday. The firm’s 50 day moving average price is $5.25 and its 200 day moving average price is $5.48. The stock has a market cap of $834.49 million, a price-to-earnings ratio of 68.87 and a beta of 1.36. Empire State Realty Trust has a fifty-two week low of $4.61 and a fifty-two week high of $8.07. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.15.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported ($0.15) EPS for the quarter. Empire State Realty Trust had a return on equity of 0.40% and a net margin of 0.93%.The firm had revenue of $196.90 million for the quarter. Empire State Realty Trust has set its FY 2026 guidance at 0.750-0.790 EPS. As a group, equities research analysts predict that Empire State Realty Trust will post 0.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Empire State Realty Trust

Several large investors have recently bought and sold shares of ESRT. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Empire State Realty Trust by 55.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,905,653 shares of the real estate investment trust’s stock worth $25,509,000 after purchasing an additional 1,750,544 shares during the last quarter. Lasalle Investment Management Securities LLC lifted its holdings in shares of Empire State Realty Trust by 64.0% during the first quarter. Lasalle Investment Management Securities LLC now owns 9,058,860 shares of the real estate investment trust’s stock worth $47,106,000 after purchasing an additional 3,534,376 shares during the period. BROOKFIELD Corp ON purchased a new position in Empire State Realty Trust in the 1st quarter valued at $2,662,000. Renaissance Technologies LLC grew its position in Empire State Realty Trust by 55.7% in the 1st quarter. Renaissance Technologies LLC now owns 363,700 shares of the real estate investment trust’s stock valued at $1,891,000 after buying an additional 130,100 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in Empire State Realty Trust by 56.1% in the 1st quarter. Bessemer Group Inc. now owns 712,061 shares of the real estate investment trust’s stock valued at $3,703,000 after buying an additional 255,804 shares during the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Empire State Realty Trust Company Profile

Empire State Realty Trust, Inc is a publicly traded real estate investment trust (REIT) focused on the ownership, management and operation of office and retail properties. The company’s portfolio features the iconic Empire State Building in Midtown Manhattan, alongside a diversified collection of commercial assets situated throughout Manhattan, Brooklyn and select markets in Upstate New York. By offering premium office space and street-level retail, Empire State Realty Trust positions itself as a landlord of choice for corporate tenants, retailers and experiential brands seeking high-profile addresses.

Established through a spin-off of assets in early 2013, Empire State Realty Trust consolidated a mix of landmark and Class A properties, creating scale in one of the world’s most competitive real estate markets.