It seems that the Empire State Realty Trust stocks are downgraded. According to a recent report by octafinance.com, "Stock research analysts at The Street's equity research division lowered Empire State Realty Trust's (NASDAQ:ESRT) stock rating from 'sell' to 'hold' on 18 August." The trade closed with a lower rating today and according to a previous report by octafinance.com, "The stock rating downgrade is noticed by equity trade."
Empire State Realty Trust, Inc. is a real estate investment trust (REIT). The Company operates, acquires and repositions office and retail properties in the areas of Manhattan and the greater New York metropolitan area. The Company controls two segments and these are the Real Estate and Observatory.
Despite the downgrade, it's noteworthy that the Empire State Realty Trust's stock has augmented by 12.59 percent for the past 200 days. It has even beaten the S&P 500, whose stocks have surged by 3.05 percent over the same time. It is further reported by dakotafinancialnews.com that, "Shares of Empire State Realty Trust (NASDAQ:ESRT) traded up 0.68 percent on Friday, hitting $17.77. 429,681 shares of the stock were exchanged."
The stocks of Empire State Realty Trust will continue to soar if it meets the criteria that it is searching for. Among the stockholders that have the biggest share of Empire State Realty Trust is Keypoint Capital Management LLC.
According to a past report by octafinance.com, "It had the largest stake with ownership of 202,520 shares as of Q1 2015 for 5.76 percent of the stocks portfolio."
The second one that has the largest stock is Resolution Capital Ltd. According to a previous report by octafinance.com, "Resolution Capital Ltd. is another notably bullish institutional investor who is owning 3.32 million shares of Empire State Realty Trust or 5.37 percent of their stocks portfolio."
More challenges await the company, but as long as it keeps the momentum, it will stabilize in the coming days, months, or years.