Latest Stocks: Empire State Realty Trust Inc (ESRT) Receives New Coverage from Analysts at Evercore ISI

Latest Stocks: Empire State Realty Trust Inc (ESRT) Receives New Coverage from Analysts at Evercore ISI

Evercore ISI began coverage on shares of Empire State Realty Trust Inc (NYSE:ESRT) in a research report report published on Wednesday morning. The brokerage issued an in-line rating and a $23.00 price target on the real estate investment trust’s stock.

Several other equities analysts have also weighed in on ESRT. BMO Capital Markets set a $23.00 target price on Empire State Realty Trust and gave the company a buy rating in a report on Saturday, May 13th. TheStreet lowered Empire State Realty Trust from a b rating to a c+ rating in a report on Friday, May 19th. Finally, Zacks Investment Research upgraded Empire State Realty Trust from a sell rating to a hold rating in a report on Monday, February 27th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Empire State Realty Trust presently has a consensus rating of Hold and an average price target of $22.50.

Empire State Realty Trust (NYSE:ESRT) last posted its earnings results on Wednesday, April 26th. The real estate investment trust reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Empire State Realty Trust had a return on equity of 3.60% and a net margin of 8.70%. The company had revenue of $164.95 million for the quarter, compared to analyst estimates of $118.20 million. During the same period last year, the company earned $0.22 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. Equities analysts anticipate that Empire State Realty Trust will post $0.92 EPS for the current fiscal year. The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.105 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.42 annualized dividend and a yield of 1.99%. Empire State Realty Trust’s dividend payout ratio (DPR) is currently 123.53%.

Institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. bought a new position in Empire State Realty Trust during the first quarter valued at $122,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Empire State Realty Trust by 8.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,318 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 569 shares in the last quarter. First Mercantile Trust Co. increased its stake in shares of Empire State Realty Trust by 42.7% in the first quarter. First Mercantile Trust Co. now owns 10,830 shares of the real estate investment trust’s stock valued at $224,000 after buying an additional 3,240 shares in the last quarter. TLP Group LLC increased its stake in shares of Empire State Realty Trust by 8,421.5% in the first quarter. TLP Group LLC now owns 11,504 shares of the real estate investment trust’s stock valued at $237,000 after buying an additional 11,369 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Empire State Realty Trust by 22.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,586 shares of the real estate investment trust’s stock valued at $274,000 after buying an additional 2,480 shares in the last quarter. Institutional investors own 82.96% of the company’s stock. Empire State Realty Trust Company Profile

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