Ameriprise Financial Inc. Grows Stake in Empire State Realty Trust, Inc. $ESRT

Key Points

• Ameriprise Financial Inc. increased its stake in Empire State Realty Trust by 5.2%, acquiring an additional 476,793 shares, bringing its total holdings to 9,711,834 shares, valued at approximately $75.9 million.
• Empire State Realty Trust's shares received a rating upgrade from "sell" to "hold" by analysts at Wall Street Zen, while Wells Fargo downgraded their target price from $11.00 to $8.30, indicating mixed market sentiment.
• The company declared a quarterly dividend of $0.035 per share, resulting in a 1.9% yield and a payout ratio of 58.33%, with payments scheduled for September 30th.

Ameriprise Financial Inc. raised its position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 5.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,711,834 shares of the real estate investment trust's stock after buying an additional 476,793 shares during the quarter. Ameriprise Financial Inc. owned about 5.79% of Empire State Realty Trust worth $75,915,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ESRT. Envestnet Asset Management Inc. grew its holdings in Empire State Realty Trust by 550.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 77,657 shares of the real estate investment trust's stock valued at $801,000 after buying an additional 65,717 shares in the last quarter. Barclays PLC lifted its stake in shares of Empire State Realty Trust by 1.6% in the 4th quarter. Barclays PLC now owns 309,479 shares of the real estate investment trust's stock valued at $3,194,000 after purchasing an additional 4,940 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Empire State Realty Trust in the 4th quarter valued at approximately $110,000. NewEdge Advisors LLC bought a new stake in shares of Empire State Realty Trust in the 4th quarter valued at approximately $117,000. Finally, First Trust Advisors LP lifted its stake in shares of Empire State Realty Trust by 8.4% in the 4th quarter. First Trust Advisors LP now owns 295,535 shares of the real estate investment trust's stock valued at $3,050,000 after purchasing an additional 22,990 shares during the last quarter. Hedge funds and other institutional investors own 67.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ESRT. Wells Fargo & Company lowered their price objective 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 raised Empire State Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 23rd. Two 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's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $10.43.

Empire State Realty Trust Trading Up 0.3%

Shares of ESRT stock traded up $0.03 on Monday, reaching $7.66. 1,461,631 shares of the company's stock were exchanged, compared to its average volume of 1,316,949. 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 stock has a market capitalization of $1.30 billion, a PE ratio of 31.90 and a beta of 1.78. The company's fifty day simple moving average is $7.68 and its 200 day simple moving average is $7.81.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last issued its quarterly 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 firm 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, analysts forecast that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.

Empire State Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, September 15th. Empire State Realty Trust's dividend payout ratio (DPR) is presently 58.33%.

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.