Brokerages Expect Empire State Realty Trust Inc (ESRT) Will Announce Earnings of $0.24 Per Share

Analysts forecast that Empire State Realty Trust Inc (NYSE:ESRT) will announce earnings per share of $0.24 for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Empire State Realty Trust’s earnings, with the highest EPS estimate coming in at $0.25 and the lowest estimate coming in at $0.24. Empire State Realty Trust reported earnings per share of $0.26 during the same quarter last year, which would suggest a negative year over year growth rate of 7.7%. The company is scheduled to issue its next quarterly earnings report on Tuesday, October 30th.

On average, analysts expect that Empire State Realty Trust will report full year earnings of $0.89 per share for the current year, with EPS estimates ranging from $0.87 to $0.90. For the next financial year, analysts expect that the business will report earnings of $0.89 per share, with EPS estimates ranging from $0.87 to $0.91. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Empire State Realty Trust.

Empire State Realty Trust (NYSE:ESRT) last issued its quarterly earnings data on Wednesday, July 25th. The real estate investment trust reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. Empire State Realty Trust had a net margin of 12.72% and a return on equity of 4.62%. The business had revenue of $124.04 million during the quarter, compared to analyst estimates of $122.58 million. During the same period in the prior year, the business earned $0.25 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis.

A number of analysts have recently weighed in on the stock. Bank of America downgraded shares of Empire State Realty Trust from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research report on Tuesday, August 7th. Zacks Investment Research raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, July 30th. ValuEngine downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Evercore ISI downgraded shares of Empire State Realty Trust from an “outperform” rating to an “inline” rating in a research report on Monday, June 11th. Finally, BTIG Research downgraded shares of Empire State Realty Trust from a “buy” rating to a “hold” rating and set a $24.00 target price on the stock. in a research report on Tuesday, July 31st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $20.86.

NYSE ESRT traded down $0.12 during trading on Friday, hitting $16.98. The company had a trading volume of 904,075 shares, compared to its average volume of 1,176,292. The company has a current ratio of 7.10, a quick ratio of 9.00 and a debt-to-equity ratio of 0.97. Empire State Realty Trust has a one year low of $15.94 and a one year high of $21.09. The firm has a market capitalization of $2.87 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 4.82 and a beta of 0.90.

In other news, major shareholder Quark Holding Llc acquired 284,015 shares of the business’s stock in a transaction that occurred on Thursday, May 31st. The shares were bought at an average cost of $16.72 per share, with a total value of $4,748,730.80. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David A. Karp acquired 4,500 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The shares were purchased at an average cost of $16.19 per share, for a total transaction of $72,855.00. Following the completion of the transaction, the chief financial officer now directly owns 5,500 shares in the company, valued at approximately $89,045. The disclosure for this purchase can be found here. 11.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in ESRT. Citadel Advisors LLC grew its position in Empire State Realty Trust by 109.7% during the 2nd quarter. Citadel Advisors LLC now owns 3,444,342 shares of the real estate investment trust’s stock valued at $58,899,000 after purchasing an additional 1,801,601 shares during the last quarter. Heitman Real Estate Securities LLC boosted its holdings in shares of Empire State Realty Trust by 300.4% during the 1st quarter. Heitman Real Estate Securities LLC now owns 2,222,530 shares of the real estate investment trust’s stock valued at $40,834,000 after acquiring an additional 1,667,399 shares during the last quarter. Resolution Capital Ltd boosted its holdings in shares of Empire State Realty Trust by 18.7% during the 2nd quarter. Resolution Capital Ltd now owns 8,685,500 shares of the real estate investment trust’s stock valued at $148,522,000 after acquiring an additional 1,369,762 shares during the last quarter. FMR LLC boosted its holdings in shares of Empire State Realty Trust by 56.9% during the 2nd quarter. FMR LLC now owns 2,512,906 shares of the real estate investment trust’s stock valued at $42,971,000 after acquiring an additional 911,543 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Empire State Realty Trust by 2,819.9% during the 1st quarter. Nuveen Asset Management LLC now owns 691,190 shares of the real estate investment trust’s stock valued at $11,605,000 after acquiring an additional 667,518 shares during the last quarter. 74.09% of the stock is currently owned by institutional investors.

About Empire State Realty Trust

Empire State Realty Trust, Inc (NYSE:ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world's most famous building.

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