Nuveen Asset Management LLC Acquires 601,077 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

Nuveen Asset Management LLC boosted its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 26.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,886,750 shares of the real estate investment trust's stock after acquiring an additional 601,077 shares during the period. Nuveen Asset Management LLC owned about 1.73% of Empire State Realty Trust worth $29,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ESRT. Ameriprise Financial Inc. grew its holdings in Empire State Realty Trust by 42.4% during the 4th quarter. Ameriprise Financial Inc. now owns 9,235,041 shares of the real estate investment trust's stock worth $95,306,000 after acquiring an additional 2,750,045 shares in the last quarter. Waterfront Capital Partners LLC bought a new stake in Empire State Realty Trust during the 4th quarter valued at $11,048,000. Northern Trust Corp increased its holdings in shares of Empire State Realty Trust by 42.1% in the 4th quarter. Northern Trust Corp now owns 2,600,328 shares of the real estate investment trust's stock valued at $26,835,000 after acquiring an additional 771,017 shares during the period. Balyasny Asset Management L.P. increased its holdings in shares of Empire State Realty Trust by 53.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,118,085 shares of the real estate investment trust's stock valued at $21,859,000 after acquiring an additional 741,234 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Empire State Realty Trust by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 19,844,999 shares of the real estate investment trust's stock worth $204,800,000 after acquiring an additional 461,421 shares in the last quarter. 67.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ESRT has been the topic of a number of recent research reports. Citigroup reaffirmed a "neutral" rating on shares of Empire State Realty Trust in a research report on Friday, April 11th. Wells Fargo & Company dropped their price objective 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. Wolfe Research raised 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 research report on Tuesday, March 25th. Finally, StockNews.com downgraded Empire State Realty Trust from a "hold" rating to a "sell" rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $10.43.

Empire State Realty Trust Price Performance

NYSE ESRT opened at $7.40 on Thursday. The firm's fifty day simple moving average is $7.46 and its two-hundred day simple moving average is $9.07. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. Empire State Realty Trust, Inc. has a 12-month low of $6.56 and a 12-month high of $11.62. The firm has a market capitalization of $1.25 billion, a P/E ratio of 26.41 and a beta of 1.60.

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

Empire State Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.035 per share. The ex-dividend date is Friday, June 13th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.89%. Empire State Realty Trust's payout ratio is 46.67%.

Insider Transactions at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 5,779 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $8.03, for a total transaction of $46,405.37. Following the sale, the executive vice president now directly owns 56,028 shares of the company's stock, valued at $449,904.84. The trade was a 9.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 30,122 shares of company stock worth $242,761. Insiders own 14.60% of the company's stock.

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.

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