1832 Asset Management L.P. Boosts Position in Empire State Realty Trust, Inc. $ESRT

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. increased its position in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 13.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 654,774 shares of the real estate investment trust's stock after buying an additional 75,162 shares during the quarter. 1832 Asset Management L.P. owned about 0.39% of Empire State Realty Trust worth $5,120,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. GF Fund Management CO. LTD. bought a new stake in Empire State Realty Trust in the fourth quarter valued at about $26,000. Quantbot Technologies LP acquired a new stake in Empire State Realty Trust during the first quarter valued at approximately $37,000. State of Wyoming acquired a new position in shares of Empire State Realty Trust in the 4th quarter valued at $54,000. US Bancorp DE boosted its stake in Empire State Realty Trust by 22.4% in the 1st quarter. US Bancorp DE now owns 9,973 shares of the real estate investment trust's stock worth $78,000 after purchasing an additional 1,824 shares during the period. Finally, Versor Investments LP grew its stake in Empire State Realty Trust by 23.5% during the 1st quarter. Versor Investments LP now owns 12,600 shares of the real estate investment trust's stock valued at $99,000 after acquiring an additional 2,400 shares in the last quarter. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Empire State Realty Trust Price Performance

ESRT traded up $0.00 during trading hours on Friday, hitting $7.63. The company's stock had a trading volume of 893,360 shares, compared to its average volume of 1,560,339. The business's 50-day moving average price is $7.71 and its 200-day moving average price is $7.85. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 1.15. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 31.81 and a beta of 1.70. Empire State Realty Trust, Inc. has a 12 month low of $6.56 and a 12 month high of $11.62.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter. The business had revenue of $153.54 million for 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. Sell-side analysts expect 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, September 15th. Empire State Realty Trust's payout ratio is 58.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ESRT shares. Wells Fargo & Company reduced their price objective on shares of Empire State Realty Trust from $11.00 to $8.30 and set an "underweight" rating for the company in a research note on Monday, May 19th. Wall Street Zen upgraded Empire State Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 23rd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $10.43.

About Empire State Realty Trust

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.