UPDATE: Bank of America Initiates Coverage on Empire State Realty Trust on Value-Add Office Portfolio Concentrated in Midtown NYC

In a report published Monday, Bank of America analyst James Feldman initiated coverage on Empire State Realty Trust (NYSE: ESRT ) with a Buy rating and $15.75 price target. In the report, Bank of America noted, “We are initiating coverage of Empire State Realty Trust (ESRT) with a $15.75 price