Nuveen LLC Purchases New Shares 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 bought a new stake in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,775,292 shares of the real estate investment trust's stock, valued at approximately $21,703,000. Nuveen LLC owned approximately 1.65% of Empire State Realty Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new stake in shares of Empire State Realty Trust in the fourth quarter valued at $26,000. Sterling Capital Management LLC increased its stake in shares of Empire State Realty Trust by 819.7% in the fourth quarter. Sterling Capital Management LLC now owns 4,295 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 3,828 shares in the last quarter. State of Wyoming acquired a new stake in shares of Empire State Realty Trust in the fourth quarter valued at $54,000. US Bancorp DE increased its stake in shares of Empire State Realty Trust by 22.4% in the first quarter. US Bancorp DE now owns 9,973 shares of the real estate investment trust's stock valued at $78,000 after buying an additional 1,824 shares in the last quarter. Finally, Pinney & Scofield Inc. acquired a new stake in shares of Empire State Realty Trust in the fourth quarter valued at $103,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Empire State Realty Trust Stock Up 5.0%

Shares of NYSE:ESRT traded up $0.3650 during trading on Friday, hitting $7.6650. 711,431 shares of the company's stock traded hands, compared to its average volume of 1,572,042. 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 current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 1.15. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 31.94 and a beta of 1.70. The company has a 50-day moving average price of $7.82 and a 200-day moving average price of $7.92.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.22 earnings per share (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 for the quarter. Empire State Realty Trust has set its FY 2025 guidance at 0.830-0.860 EPS. As a group, research analysts forecast that Empire State Realty Trust, Inc. will post 0.88 EPS 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. Investors of record on Monday, September 15th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.8%. Empire State Realty Trust's payout ratio is presently 58.33%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ESRT. Wall Street Zen lowered Empire State Realty Trust from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Wells Fargo & Company decreased their price target 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. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Empire State Realty Trust presently has a consensus rating of "Hold" and a consensus price target of $10.43.

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.