Allianz Asset Management GmbH Takes Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Allianz Asset Management GmbH bought a new position in shares of 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 (SEC). The firm bought 78,019 shares of the real estate investment trust's stock, valued at approximately $610,000.

Other institutional investors have also recently made changes to their positions in the company. GF Fund Management CO. LTD. bought a new position in shares of Empire State Realty Trust during the 4th quarter valued at about $26,000. Sterling Capital Management LLC increased its holdings 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 worth $44,000 after purchasing an additional 3,828 shares during the last quarter. State of Wyoming purchased a new stake in shares of Empire State Realty Trust in the fourth quarter worth about $54,000. Pinney & Scofield Inc. bought a new position in Empire State Realty Trust during the fourth quarter valued at approximately $103,000. Finally, XTX Topco Ltd bought a new position in Empire State Realty Trust during the fourth quarter valued at approximately $110,000. Hedge funds and other institutional investors own 67.10% of the company's stock.

Empire State Realty Trust Trading Down 1.2%

Shares of ESRT stock opened at $7.15 on Friday. The company has a market cap of $1.20 billion, a PE ratio of 29.79 and a beta of 1.70. Empire State Realty Trust, Inc. has a 1 year low of $6.56 and a 1 year high of $11.62. The stock's 50 day simple moving average is $8.00 and its two-hundred day simple moving average is $8.13. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.83 and a quick ratio of 3.83.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.22 earnings per share for the quarter. The firm had revenue of $153.54 million for the quarter. Empire State Realty Trust had a return on equity of 2.46% and a net margin of 5.67%. Research analysts predict that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current year.

Empire State Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.0%. Empire State Realty Trust's payout ratio is currently 58.33%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ESRT. Wall Street Zen downgraded Empire State Realty Trust from a "hold" rating to a "sell" rating in a research note on Monday, May 19th. Citigroup restated a "neutral" rating on shares of Empire State Realty Trust in a research report on Friday, April 11th. Finally, Wells Fargo & Company decreased their price target on shares of Empire State Realty Trust from $11.00 to $8.30 and set an "underweight" rating on the stock in a research note on Monday, May 19th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.