Employees Retirement System of Texas Grows Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Employees Retirement System of Texas raised its stake in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 81.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 512,000 shares of the real estate investment trust's stock after buying an additional 230,000 shares during the period. Employees Retirement System of Texas owned about 0.31% of Empire State Realty Trust worth $5,284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GF Fund Management CO. LTD. bought a new stake in Empire State Realty Trust in the 4th quarter worth approximately $26,000. Sterling Capital Management LLC raised its stake in shares of Empire State Realty Trust by 819.7% during the fourth quarter. Sterling Capital Management LLC now owns 4,295 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 3,828 shares in the last quarter. State of Wyoming bought a new stake in shares of Empire State Realty Trust in the 4th quarter worth approximately $54,000. Pinney & Scofield Inc. bought a new stake in shares of Empire State Realty Trust in the 4th quarter worth approximately $103,000. Finally, Versor Investments LP purchased a new stake in shares of Empire State Realty Trust in the 4th quarter valued at $105,000. Hedge funds and other institutional investors own 67.10% of the company's stock.

Insider Transactions at Empire State Realty Trust

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 5,779 shares of the company's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $8.03, for a total value of $46,405.37. Following the completion of the transaction, the executive vice president now directly owns 56,028 shares in the company, valued at approximately $449,904.84. This represents a 9.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 30,122 shares of company stock worth $242,761. 14.60% of the stock is currently owned by insiders.

Empire State Realty Trust Trading Down 2.0%

ESRT traded down $0.16 during trading on Friday, hitting $7.68. 1,500,063 shares of the stock traded hands, compared to its average volume of 1,251,617. The firm has a market capitalization of $1.29 billion, a P/E ratio of 27.43 and a beta of 1.60. 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 1.23, a current ratio of 3.72 and a quick ratio of 3.72. The firm has a 50-day moving average of $7.38 and a 200 day moving average of $8.91.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.19 earnings per share for the quarter. The company had revenue of $154.54 million during the quarter. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. Equities research analysts anticipate that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.

Empire State Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.82%. The ex-dividend date is Friday, June 13th. Empire State Realty Trust's dividend payout ratio (DPR) is currently 46.67%.

Analysts Set New Price Targets

A number of equities analysts recently commented on ESRT shares. Wall Street Zen cut shares of Empire State Realty Trust from a "hold" rating to a "sell" rating in a research report on Monday, May 19th. Wolfe Research upgraded Empire State Realty Trust from a "peer perform" rating to an "outperform" rating and set a $10.00 price objective on the stock in a report on Tuesday, March 25th. Citigroup reissued a "neutral" rating on shares of Empire State Realty Trust in a research note on Friday, April 11th. Finally, Wells Fargo & Company reduced their price target on 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. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Empire State Realty Trust currently has an average rating of "Hold" and a consensus price target of $10.43.

About Empire State Realty Trust

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.