Analyst Explains Why They Upgraded Their Rating on Empire State Realty (ESRT)

By Ryan Adsit

Empire State Realty (ESRTResearch Report) received a Buy rating and a $14.00 price target from BMO Capital analyst John Kim today. The company’s shares closed last Wednesday at $9.45.

According to, Kim is a 3-star analyst with an average return of 1.4% and a 50.8% success rate. Kim covers the Financial sector, focusing on stocks such as Apartment Investment & Management, Retail Opportunity Investments, and National Health Investors.

Currently, the analyst consensus on Empire State Realty is a Moderate Buy with an average price target of $12.00.

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The company has a one-year high of $14.31 and a one-year low of $5.19. Currently, Empire State Realty has an average volume of 2.81M.

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Empire State Realty Trust, Inc. is a real estate investment trust, which engages in owning, managing, acquiring, and repositioning office and retail properties in Manhattan and the greater New York metropolitan area. It operates through the Real Estate and Observatory segments. The real estate segment includes ownership, management, operation, acquisition, repositioning and disposition of real estate assets. The Observatory segment manages observatories at the empire state building. The company was founded on July 29, 2011 and is headquartered in New York, NY.