Empire State Realty Trust Inc (ESRT) Expected to Post Quarterly Sales of $123.51 Million

Equities research analysts predict that Empire State Realty Trust Inc (NYSE:ESRT) will announce $123.51 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Empire State Realty Trust’s earnings, with estimates ranging from $122.84 million to $124.17 million. Empire State Realty Trust posted sales of $123.60 million during the same quarter last year, which suggests a negative year over year growth rate of 0.1%. The company is scheduled to announce its next earnings report on Wednesday, February 20th.

According to Zacks, analysts expect that Empire State Realty Trust will report full-year sales of $493.51 million for the current fiscal year, with estimates ranging from $492.81 million to $494.22 million. For the next fiscal year, analysts forecast that the business will report sales of $506.51 million, with estimates ranging from $499.67 million to $513.35 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Empire State Realty Trust.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.14). The company had revenue of $123.62 million for the quarter, compared to the consensus estimate of $123.49 million. Empire State Realty Trust had a return on equity of 4.48% and a net margin of 12.39%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 EPS.

Several research firms have recently issued reports on ESRT. Zacks Investment Research downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. BTIG Research downgraded Empire State Realty Trust from a “buy” rating to a “hold” rating and set a $24.00 price target for the company. in a research note on Tuesday, July 31st. Finally, Bank of America downgraded Empire State Realty Trust from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research note on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $20.50.

Shares of ESRT traded down $0.04 during trading hours on Thursday, hitting $15.89. 975,940 shares of the company were exchanged, compared to its average volume of 1,222,270. The company has a market cap of $2.69 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 6.34 and a beta of 0.88. Empire State Realty Trust has a 52 week low of $15.45 and a 52 week high of $20.93. The company has a debt-to-equity ratio of 0.96, a quick ratio of 7.10 and a current ratio of 7.10.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in shares of Empire State Realty Trust by 17.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,723,864 shares of the real estate investment trust’s stock worth $45,243,000 after purchasing an additional 411,775 shares during the last quarter. Eaton Vance Management lifted its position in shares of Empire State Realty Trust by 299.4% during the 3rd quarter. Eaton Vance Management now owns 340,667 shares of the real estate investment trust’s stock worth $5,658,000 after purchasing an additional 255,379 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Empire State Realty Trust in the 3rd quarter valued at approximately $455,000. Hsbc Holdings PLC raised its holdings in Empire State Realty Trust by 26.1% in the 3rd quarter. Hsbc Holdings PLC now owns 21,187 shares of the real estate investment trust’s stock valued at $352,000 after acquiring an additional 4,387 shares in the last quarter. Finally, AMP Capital Investors Ltd raised its holdings in Empire State Realty Trust by 13.1% in the 3rd quarter. AMP Capital Investors Ltd now owns 3,057,559 shares of the real estate investment trust’s stock valued at $50,054,000 after acquiring an additional 354,777 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Empire State Realty Trust Company Profile

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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