ESRT Intrinsic Stock Value – Janney Montgomery Scott LLC Decreases Stake in Empire State Realty Trust, on May 4, 2023.
May 11, 2023
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Empire State Realty ($NYSE:ESRT) Trust, Inc. (ESRT) is a leading owner and operator of commercial real estate in New York City. On May 4, 2023, Janney Montgomery Scott LLC disclosed that it had reduced its stake in ESRT shares. Janney Montgomery Scott LLC is an American financial services firm that provides investment banking, asset management, and securities trading services.
ESRT’s stock price has been performing well over the last few months. It is unclear whether this move was made due to concerns about the future performance of the company or for other reasons.
Share Price
ESRT opened at $5.8 and closed at $5.8, a decrease of 0.3% from the prior closing price of $5.8. The decline in stock price indicates that investors may have been hesitant to purchase the security due to Janney Montgomery Scott LLC’s reduced stake in the company. This is not the first time that Janney Montgomery Scott LLC has reduced its stake in ESRT as the firm has done so several times in the past. It remains to be seen if this latest reduction will have any negative implications for the company or its shareholders. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for ESRT. More…
| Total Revenues | Net Income | Net Margin |
| 727.63 | 54.26 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for ESRT. More…
| Operations | Investing | Financing |
| 211.17 | -230.89 | -140.24 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for ESRT. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.16k | 2.48k | 10.37 |
Key Ratios Snapshot
Some of the financial key ratios for ESRT are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 19.0% |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis – ESRT Intrinsic Stock Value
At GoodWhale, we have performed an analysis of EMPIRE STATE REALTY TRUST’s wellbeing. Our proprietary Valuation Line has calculated the intrinsic value of EMPIRE STATE REALTY TRUST’s stock around $7.2. However, currently EMPIRE STATE REALTY TRUST’s stock is being traded at $5.8, which is a fair price but still undervalued by 19.4%. Therefore, we believe that now could be a good time for investors to enter EMPIRE STATE REALTY TRUST stock to gain potential upside in the future. More…
Peers
ESRT’s portfolio includes the Empire State Building, the world’s most famous office building. The company also owns and manages a retail portfolio that comprises some of New York’s most iconic and historic shopping destinations. ESRT’s competitors include SL Green Realty Corp, Vornado Realty Trust, Hudson Pacific Properties Inc.
– SL Green Realty Corp ($NYSE:SLG)
SL Green Realty Corp is a real estate investment trust that focuses on acquiring, managing, and developing office properties in the United States. As of December 31, 2020, the company owned interests in 108 Manhattan buildings totaling 54.4 million square feet.
– Vornado Realty Trust ($NYSE:VNO)
Vornado Realty Trust is a publicly traded real estate investment trust (REIT) that owns, manages and develops commercial real estate, primarily in the United States. The company’s portfolio includes office buildings, retail space, hotels and other properties. Vornado’s market capitalization is $4.44 billion as of 2022. The company’s properties are located in major markets across the United States, including New York City, Washington, D.C., Chicago and San Francisco.
– Hudson Pacific Properties Inc ($NYSE:HPP)
Hudson Pacific Properties Inc is a real estate investment trust that focuses on acquiring, developing, and operating office properties in the United States. As of December 31, 2020, the company owned and operated approximately 39 million square feet of office space. Hudson Pacific Properties Inc is headquartered in Los Angeles, California.
Summary
Empire State Realty Trust, Inc. is a real estate investment trust (REIT) that owns and operates office and retail properties in New York City. On May 4, 2023, Janney Montgomery Scott LLC, a financial services firm, sold a portion of its shares in the company. This has raised questions regarding the outlook of Empire State Realty Trust’s stock. A deeper analysis of the company’s fundamentals and financials is needed to determine if the stock is worth investing in.
Factors to consider include the company’s dividend yield, earnings, debt levels, and occupancy rate. Investors should also consider the competitive landscape to assess Empire State Realty Trust’s competitive advantage. Lastly, macroeconomic factors such as the state of the economy, inflation, and interest rates should be taken into account when making an investment decision.
