Nuveen LLC Acquires New Stake in Empire State Realty Trust, Inc. $ESRT

Key Points

• Nuveen LLC acquired 2,775,292 shares of Empire State Realty Trust, Inc. ($ESRT), valued at approximately $21.7 million, which accounts for about 1.65% of the company's total shares.
• Recent changes in institutional investments include Ameriprise Financial increasing its stake by 42.4% and Centersquare Investment Management escalating its stake by 6,189.6% in the last quarter.
• The company has announced a quarterly dividend of $0.035 per share, with a yield of 1.9%, to be paid on September 30th to investors of record on September 15th.

Nuveen LLC acquired a new stake in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,775,292 shares of the real estate investment trust's stock, valued at approximately $21,703,000. Nuveen LLC owned 1.65% of Empire State Realty Trust as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ESRT. GF Fund Management CO. LTD. purchased a new position in shares of Empire State Realty Trust in the 4th quarter valued at about $26,000. Sterling Capital Management LLC lifted its stake in Empire State Realty Trust by 819.7% during the fourth quarter. Sterling Capital Management LLC now owns 4,295 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 3,828 shares during the last quarter. State of Wyoming purchased a new stake in Empire State Realty Trust during the fourth quarter worth approximately $54,000. US Bancorp DE lifted its stake in Empire State Realty Trust by 22.4% during the first 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 last quarter. Finally, Pinney & Scofield Inc. purchased a new stake in Empire State Realty Trust during the fourth quarter worth approximately $103,000. Hedge funds and other institutional investors own 67.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on 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. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Empire State Realty Trust currently has a consensus rating of "Hold" and a consensus price target of $10.43.

Empire State Realty Trust Stock Performance

NYSE ESRT traded up $0.3550 on Friday, reaching $7.6550. The stock had a trading volume of 1,502,633 shares, compared to its average volume of 1,456,781. The company has a debt-to-equity ratio of 1.15, a quick ratio of 4.03 and a current ratio of 4.03. Empire State Realty Trust, Inc. has a 12-month low of $6.56 and a 12-month high of $11.62. The business's 50-day moving average price is $7.80 and its 200 day moving average price is $7.90. The stock has a market cap of $1.30 billion, a P/E ratio of 31.90 and a beta of 1.70.

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

Empire State Realty Trust Dividend Announcement

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