Empire State Realty Trust (NYSE:ESRT) Issues Quarterly Earnings Results

Empire State Realty Trust (NYSE:ESRT) released its earnings results on Wednesday. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03), MarketWatch Earnings reports. Empire State Realty Trust had a net margin of 3.97% and a return on equity of 1.45%. The business had revenue of $138.00 million for the quarter, compared to the consensus estimate of $144.66 million.

ESRT stock traded down $0.03 during trading on Friday, hitting $6.60. The company had a trading volume of 1,558,569 shares, compared to its average volume of 2,043,428. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 50.77, a P/E/G ratio of 8.38 and a beta of 0.75. The business has a 50 day moving average of $6.94 and a 200 day moving average of $9.47. Empire State Realty Trust has a fifty-two week low of $6.26 and a fifty-two week high of $14.99. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 1.08.

ESRT has been the subject of several recent research reports. Zacks Investment Research lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, June 25th. Citigroup downgraded shares of Empire State Realty Trust from a “neutral” rating to a “sell” rating and reduced their price target for the company from $15.00 to $7.50 in a report on Tuesday, April 7th. Finally, ValuEngine raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $11.50.

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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Earnings History for Empire State Realty Trust (NYSE:ESRT)

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