Empire State Realty Trust Inc (ESRT) Stake Lowered by Bank of Montreal Can

Bank of Montreal Can lessened its holdings in Empire State Realty Trust Inc (NYSE:ESRT) by 49.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,810 shares of the real estate investment trust’s stock after selling 101,119 shares during the period. Bank of Montreal Can owned about 0.06% of Empire State Realty Trust worth $1,708,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. UBS Group AG increased its position in Empire State Realty Trust by 55.4% during the first quarter. UBS Group AG now owns 34,867 shares of the real estate investment trust’s stock valued at $585,000 after acquiring an additional 12,429 shares during the last quarter. Brown Advisory Inc. bought a new position in Empire State Realty Trust during the first quarter valued at $177,000. Nisa Investment Advisors LLC bought a new position in Empire State Realty Trust during the second quarter valued at $137,000. Cornerstone Wealth Management LLC bought a new position in Empire State Realty Trust during the second quarter valued at $200,000. Finally, Eqis Capital Management Inc. bought a new position in Empire State Realty Trust during the second quarter valued at $172,000. 73.23% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have weighed in on ESRT shares. Zacks Investment Research upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, July 30th. BTIG Research lowered shares of Empire State Realty Trust from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a research note on Tuesday, July 31st. Finally, Bank of America lowered shares of Empire State Realty Trust from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research note on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Empire State Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $20.50.

Shares of ESRT opened at $15.99 on Friday. The firm has a market cap of $2.75 billion, a PE ratio of 16.66, a P/E/G ratio of 6.48 and a beta of 0.88. Empire State Realty Trust Inc has a 12-month low of $15.45 and a 12-month high of $20.93. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.96.

Empire State Realty Trust (NYSE:ESRT) last issued its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.14). The company had revenue of $123.62 million for the quarter, compared to analysts’ expectations of $123.49 million. Empire State Realty Trust had a net margin of 12.39% and a return on equity of 4.48%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 earnings per share. Analysts predict that Empire State Realty Trust Inc will post 0.89 EPS for the current year.

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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.

Further Reading: Why do company’s buyback their stock?

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Institutional Ownership by Quarter for Empire State Realty Trust (NYSE:ESRT)

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