Empire State Realty Trust, Inc. (ESRT) Posts Earnings Results, Misses Estimates By $0.01 EPS
Empire State Realty Trust, Inc. (NYSE:ESRT) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.01), Bloomberg Earnings reports. Empire State Realty Trust had a net margin of 11.67% and a return on equity of 3.85%. The business had revenue of $122.39 million during the quarter, compared to the consensus estimate of $122.22 million. During the same period in the previous year, the business posted $0.26 EPS. The firm’s revenue was up 5.8% on a year-over-year basis.
Shares of Empire State Realty Trust (NYSE ESRT) opened at 19.88 on Wednesday. Empire State Realty Trust has a 52-week low of $18.62 and a 52-week high of $21.98. The company has a 50-day moving average of $20.50 and a 200-day moving average of $20.70. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 50.71 and a beta of 1.01.
A number of research analysts recently commented on the stock. BidaskClub raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating and set a $23.00 price objective on the stock in a research report on Monday, October 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $22.00.
ILLEGAL ACTIVITY WARNING: “Empire State Realty Trust, Inc. (ESRT) Posts Earnings Results, Misses Estimates By $0.01 EPS” was posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be accessed at https://theolympiareport.com/2017/11/01/empire-state-realty-trust-inc-esrt-posts-earnings-results-misses-estimates-by-0-01-eps.html.
A hedge fund recently raised its stake in Empire State Realty Trust stock. The Manufacturers Life Insurance Company raised its position in Empire State Realty Trust, Inc. (NYSE:ESRT) by 9.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,571 shares of the real estate investment trust’s stock after purchasing an additional 479 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Empire State Realty Trust were worth $116,000 as of its most recent SEC filing. 83.71% of the stock is owned by institutional investors.
About Empire State Realty Trust
Empire State Realty Trust, Inc is a real estate investment trust. The Company 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 Company operates through two segments: Real Estate and Observatory.
Receive News & Ratings for Empire State Realty Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Empire State Realty Trust Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.