Caxton Associates LLP Buys Shares of 60,673 Empire State Realty Trust, Inc. $ESRT

Key Points

• Caxton Associates LLP has acquired 60,673 shares of Empire State Realty Trust, Inc. valued at approximately $474,000, marking a significant new investment in the company.
• Analysts have mixed opinions on ESRT, with Wells Fargo cutting their price target from $11.00 to $8.30 while others upgraded it to a "hold" rating, resulting in an average price target of $10.43.
• Empire State Realty Trust announced a quarterly dividend of $0.035 per share, with a dividend yield of 1.8%, scheduled to be paid to shareholders on September 30th.

Caxton Associates LLP purchased a new stake in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 60,673 shares of the real estate investment trust's stock, valued at approximately $474,000.

A number of other hedge funds have also added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its holdings in Empire State Realty Trust by 11.4% during the fourth quarter. BNP Paribas Financial Markets now owns 31,627 shares of the real estate investment trust's stock worth $326,000 after acquiring an additional 3,236 shares in the last quarter. Ethic Inc. bought a new stake in shares of Empire State Realty Trust during the 4th quarter worth approximately $136,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Empire State Realty Trust by 5.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,017 shares of the real estate investment trust's stock valued at $795,000 after buying an additional 3,656 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Empire State Realty Trust by 26.3% in the fourth quarter. Nuveen Asset Management LLC now owns 2,886,750 shares of the real estate investment trust's stock valued at $29,791,000 after buying an additional 601,077 shares in the last quarter. Finally, Man Group plc raised its position in Empire State Realty Trust by 105.9% during the fourth quarter. Man Group plc now owns 803,671 shares of the real estate investment trust's stock worth $8,294,000 after acquiring an additional 413,266 shares in the last quarter. Institutional investors own 67.10% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised 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 issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $10.43.

Empire State Realty Trust Stock Performance

Shares of Empire State Realty Trust stock traded down $0.05 during trading on Wednesday, reaching $7.66. The company's stock had a trading volume of 234,668 shares, compared to its average volume of 1,541,243. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 1.15. The business's 50-day moving average price is $7.60 and its 200-day moving average price is $7.73. 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 PE ratio of 31.94 and a beta of 1.78.

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 (EPS) for the quarter. The company had revenue of $153.54 million for the quarter. Empire State Realty Trust had a return on equity of 2.45% and a net margin of 5.67%. Empire State Realty Trust has set its FY 2025 guidance at 0.830-0.860 EPS. Equities analysts forecast 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 will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend 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%.

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.