Balyasny Asset Management L.P. Grows Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Balyasny Asset Management L.P. boosted its position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 53.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,118,085 shares of the real estate investment trust's stock after purchasing an additional 741,234 shares during the period. Balyasny Asset Management L.P. owned 1.27% of Empire State Realty Trust worth $21,859,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Sterling Capital Management LLC grew its stake in shares of Empire State Realty Trust by 819.7% in the 4th quarter. Sterling Capital Management LLC now owns 4,295 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 3,828 shares during the period. Versor Investments LP acquired a new position in shares of Empire State Realty Trust in the 4th quarter worth approximately $105,000. XTX Topco Ltd acquired a new position in Empire State Realty Trust during the 4th quarter worth $110,000. NewEdge Advisors LLC bought a new stake in shares of Empire State Realty Trust during the 4th quarter valued at $117,000. Finally, Inspire Advisors LLC bought a new position in Empire State Realty Trust during the fourth quarter worth about $125,000. Institutional investors and hedge funds own 67.10% of the company's stock.

Insider Buying and Selling

In related news, EVP Thomas P. Durels sold 5,779 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $8.03, for a total value of $46,405.37. Following the sale, the executive vice president now owns 56,028 shares in the company, valued at approximately $449,904.84. This trade represents a 9.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 30,122 shares of company stock worth $242,761 in the last three months. Insiders own 14.60% of the company's stock.

Empire State Realty Trust Trading Up 1.2%

ESRT stock traded up $0.09 during trading on Tuesday, reaching $7.85. The company had a trading volume of 695,385 shares, compared to its average volume of 1,370,934. Empire State Realty Trust, Inc. has a 52 week low of $6.56 and a 52 week high of $11.62. The company has a market cap of $1.32 billion, a P/E ratio of 28.04 and a beta of 1.60. The business has a 50 day moving average of $7.53 and a 200 day moving average of $9.19. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.19 earnings per share for the quarter. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. The business had revenue of $154.54 million during the quarter. As a group, sell-side analysts forecast that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current fiscal year.

Empire State Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.035 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.14 dividend on an annualized basis and a yield of 1.78%. Empire State Realty Trust's payout ratio is currently 46.67%.

Analyst Ratings Changes

A number of equities analysts have issued reports on ESRT shares. Wolfe Research upgraded Empire State Realty Trust from a "peer perform" rating to an "outperform" rating and set a $10.00 target price for the company in a report on Tuesday, March 25th. Citigroup reissued a "neutral" rating on shares of Empire State Realty Trust in a research note on Friday, April 11th. Finally, StockNews.com raised shares of Empire State Realty Trust from a "sell" rating to a "hold" rating in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $11.00.

Empire State Realty Trust Company Profile

Empire State Realty Trust, Inc NYSE: ESRT is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. The company is the recognized leader in energy efficiency and indoor environmental quality. ESRT's flagship Empire State Building - the "World's Most Famous Building" - includes its Observatory, Tripadvisor's 2023 Travelers' Choice Awards: Best of the Best the #1 attraction in the US for two consecutive years.