T. Rowe Price Investment Management Inc. Acquires 457,785 Shares of Empire State Realty Trust, Inc. $ESRT

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. boosted its holdings in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 26.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,169,504 shares of the real estate investment trust's stock after acquiring 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 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. GSA Capital Partners LLP increased its position in shares of Empire State Realty Trust by 173.6% during the first quarter. GSA Capital Partners LLP now owns 108,314 shares of the real estate investment trust's stock worth $847,000 after acquiring an additional 68,720 shares during the period. GAMMA Investing LLC grew its holdings in shares of Empire State Realty Trust by 654.8% during the first quarter. GAMMA Investing LLC now owns 30,443 shares of the real estate investment trust's stock worth $238,000 after purchasing an additional 26,410 shares during the last quarter. Allianz Asset Management GmbH purchased a new position in shares of Empire State Realty Trust during the first quarter worth about $610,000. SG Americas Securities LLC boosted its stake in shares of Empire State Realty Trust by 6.9% during the first quarter. SG Americas Securities LLC now owns 42,372 shares of the real estate investment trust's stock worth $331,000 after buying an additional 2,736 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Empire State Realty Trust by 10.7% during the first quarter. Principal Financial Group Inc. now owns 118,951 shares of the real estate investment trust's stock worth $930,000 after buying an additional 11,460 shares during the period. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ESRT shares. 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. Wells Fargo & Company dropped their price objective on shares of 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. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Empire State Realty Trust has a consensus rating of "Hold" and an average target price of $10.43.

Empire State Realty Trust Stock Performance

Shares of NYSE:ESRT traded up $0.01 during trading on Friday, reaching $7.64. 893,360 shares of the company's stock traded hands, compared to its average volume of 1,560,339. Empire State Realty Trust, Inc. has a 12 month low of $6.56 and a 12 month high of $11.62. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.03 and a quick ratio of 4.03. The stock has a market capitalization of $1.29 billion, a P/E ratio of 31.81 and a beta of 1.70. The company has a 50 day moving average of $7.71 and a 200-day moving average of $7.85.

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 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 during the quarter. Empire State Realty Trust has set its FY 2025 guidance at 0.830-0.860 EPS. On average, equities analysts expect that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.

Empire State Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.14 dividend on an annualized basis and a yield of 1.8%. 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.