Empire State Realty Trust (ESRT) Receives Price Target

Empire State Realty Trust (ESRT) : The highest level Empire State Realty Trust (ESRT) is projected to reach is $24 for the short term and the lowest estimate is at $22. The consolidated price target from 4 rating analysts who initiate coverage on the stock is $22.75 and the possibility the share price can swing is $0.96.

Empire State Realty Trust (ESRT) : 5 analysts are covering Empire State Realty Trust (ESRT) and their average rating on the stock is 1.4, which is read as a Strong Buy. 4 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 1 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.


Also, BTIG Research initiates coverage on Empire State Realty Trust (NYSE:ESRT).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, BTIG Research announces the price target of $24 per share. The rating by the firm was issued on August 25, 2016.

Empire State Realty Trust (NYSE:ESRT): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $21.37 and $21.10 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $21.68. The buying momentum continued till the end and the stock did not give up its gains. It closed at $21.64, notching a gain of 0.79% for the day. The total traded volume was 1,411,268 . The stock had closed at $21.47 on the previous day.

Empire State Realty Trust, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area. The Company operates in two segments: Real Estate and Observatory. The Companys real estate segment includes all activities related to the ownership, management, operation, acquisition, repositioning and disposition of its real estate assets. Its observatory segment operates the 86th and 102nd floor observatories at the Empire State Building. These two lines of businesses are managed separately and provide different services.

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