Empire State Realty Trust Inc (ESRT) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $0.22 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.20. The company posted revenue of $157.10 million in the period, compared to analysts expectations of $144.05 million. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.
Empire State Realty Trust Inc opened for trading at $17.95 and hit $18.35 on the upside on Friday, eventually ending the session at $18.31, with a gain of 2.12% or 0.38 points. The heightened volatility saw the trading volume jump to 11,88,353 shares. Company has a market cap of $5,025 M.
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.