Empire State Realty Trust, Inc. $ESRT Position Increased by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Empire State Realty Trust by 26.7%, owning approximately 2.17 million shares valued at about $16.97 million.
• The company declared a quarterly dividend of $0.035 per share, set to be paid on September 30th, resulting in an annualized dividend of $0.14 and a yield of 1.8%.
• Empire State Realty Trust's stock is currently rated "Hold" by analysts, with a consensus price target of $10.43 following recent upgrades and downgrades from various financial institutions.

T. Rowe Price Investment Management Inc. increased its holdings in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 26.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,169,504 shares of the real estate investment trust's stock after purchasing an additional 457,785 shares during the period. T. Rowe Price Investment Management Inc. owned 1.29% of Empire State Realty Trust worth $16,966,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. purchased a new position in Empire State Realty Trust during the fourth quarter worth approximately $26,000. Quantbot Technologies LP purchased a new position in shares of Empire State Realty Trust in the 1st quarter worth about $37,000. State of Wyoming acquired a new position in shares of Empire State Realty Trust in the 4th quarter valued at about $54,000. US Bancorp DE grew its holdings 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 worth $78,000 after purchasing an additional 1,824 shares during the period. Finally, Versor Investments LP increased its position in Empire State Realty Trust by 23.5% during the 1st quarter. Versor Investments LP now owns 12,600 shares of the real estate investment trust's stock worth $99,000 after purchasing an additional 2,400 shares in the last quarter. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Empire State Realty Trust Stock Up 0.3%

NYSE ESRT traded up $0.03 during mid-day trading on Friday, reaching $7.66. 1,461,631 shares of the company's stock traded hands, compared to its average volume of 1,328,326. Empire State Realty Trust, Inc. has a 1-year low of $6.56 and a 1-year high of $11.62. The company has a fifty day simple moving average of $7.70 and a 200-day simple moving average of $7.83. 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 31.90 and a beta of 1.70.

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 EPS for the quarter. Empire State Realty Trust had a return on equity of 2.45% and a net margin of 5.67%.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. As a group, equities research analysts expect that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.

Empire State Realty Trust Announces Dividend

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 issued a $0.035 dividend. 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 (DPR) is 58.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company cut 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 note on Monday, May 19th. Wall Street Zen upgraded Empire State Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 23rd. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price 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.