Ameriprise Financial Inc. Buys 476,793 Shares of 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. boosted its stake in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,711,834 shares of the real estate investment trust's stock after purchasing 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.

Other hedge funds have also bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new stake in Empire State Realty Trust in the 4th quarter worth $26,000. Quantbot Technologies LP purchased a new stake in Empire State Realty Trust in the 1st quarter worth $37,000. State of Wyoming purchased a new stake in Empire State Realty Trust in the 4th quarter worth $54,000. US Bancorp DE raised its position in shares of Empire State Realty Trust by 22.4% during the 1st 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. purchased a new stake in shares of Empire State Realty Trust during the 4th quarter valued at about $103,000. Hedge funds and other institutional investors own 67.10% of the company's stock.

Empire State Realty Trust Trading Up 0.3%

Empire State Realty Trust stock traded up $0.03 during midday trading on Friday, reaching $7.66. The stock had a trading volume of 1,461,631 shares, compared to its average volume of 1,328,326. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 1.15. Empire State Realty Trust, Inc. has a 52-week low of $6.56 and a 52-week high of $11.62. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 31.90 and a beta of 1.70. The company has a fifty day moving average of $7.70 and a 200 day moving average of $7.83.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $0.22 earnings per share for the quarter. Empire State Realty Trust had a net margin of 5.67% and a return on equity of 2.45%. The company 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. On average, analysts anticipate that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, September 15th. Empire State Realty Trust's dividend payout ratio is 58.33%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ESRT. Wells Fargo & Company decreased their target price on shares of Empire State Realty Trust from $11.00 to $8.30 and set an "underweight" rating on the stock in a research report on Monday, May 19th. Wall Street Zen upgraded shares of Empire State Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, August 23rd. Two 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $10.43.

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.