Empire State Realty Trust, Inc. $ESRT Stock Position Increased by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. increased its holdings in Empire State Realty Trust by 13.0%, acquiring an additional 75,162 shares to reach a total of 654,774 shares, valued at approximately $5.12 million.
• Analysts have mixed views on Empire State Realty Trust, with ratings adjustments including a downgrade from Wells Fargo, reducing the target price from $11.00 to $8.30, while another firm upgraded it to a "hold."
• Empire State Realty Trust recently announced a quarterly dividend of $0.035, resulting in an annualized dividend yield of 1.8%, with a payout ratio of 58.33%.

1832 Asset Management L.P. raised its position in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 13.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 654,774 shares of the real estate investment trust's stock after purchasing an additional 75,162 shares during the quarter. 1832 Asset Management L.P. owned 0.39% of Empire State Realty Trust worth $5,120,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. GSA Capital Partners LLP raised its holdings in shares of Empire State Realty Trust by 173.6% in the 1st quarter. GSA Capital Partners LLP now owns 108,314 shares of the real estate investment trust's stock worth $847,000 after purchasing an additional 68,720 shares during the period. GAMMA Investing LLC raised its holdings in shares of Empire State Realty Trust by 654.8% during the 1st quarter. GAMMA Investing LLC now owns 30,443 shares of the real estate investment trust's stock valued at $238,000 after buying an additional 26,410 shares during the period. Allianz Asset Management GmbH purchased a new stake in shares of Empire State Realty Trust during the 1st quarter valued at about $610,000. SG Americas Securities LLC raised its holdings in shares of Empire State Realty Trust by 6.9% during the 1st quarter. SG Americas Securities LLC now owns 42,372 shares of the real estate investment trust's stock valued at $331,000 after buying an additional 2,736 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Empire State Realty Trust by 10.7% during the 1st quarter. Principal Financial Group Inc. now owns 118,951 shares of the real estate investment trust's stock valued at $930,000 after buying an additional 11,460 shares during the period. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ESRT has been the topic of several analyst reports. Wells Fargo & Company dropped their target price on Empire State Realty Trust from $11.00 to $8.30 and set an "underweight" rating on the stock in a report on Monday, May 19th. Wall Street Zen upgraded Empire State Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 23rd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $10.43.

Empire State Realty Trust Stock Up 0.3%

ESRT stock traded up $0.03 during midday trading on Friday, hitting $7.66. 1,461,631 shares of the company's stock were exchanged, compared to its average volume of 1,328,326. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 1.15. Empire State Realty Trust, Inc. has a 12-month low of $6.56 and a 12-month high of $11.62. The firm has a 50 day moving average price of $7.70 and a 200-day moving average price of $7.83. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 31.90 and a beta of 1.70.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.22 EPS for the quarter. The company had revenue of $153.54 million during the quarter. Empire State Realty Trust had a return on equity of 2.45% and a net margin of 5.67%. Empire State Realty Trust has set its FY 2025 guidance at 0.830-0.860 EPS. On average, analysts anticipate that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.

Empire State Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.035 per share. The ex-dividend date is Monday, September 15th. This represents a $0.14 dividend on an annualized basis and a yield of 1.8%. Empire State Realty Trust's payout ratio is currently 58.33%.

Empire State Realty Trust 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.