PharVision Advisers LLC Invests $434,000 in Empire State Realty Trust, Inc. $ESRT

Key Points

• PharVision Advisers LLC acquired 55,526 shares of Empire State Realty Trust, valued at approximately $434,000, which constitutes 0.6% of their investment portfolio.
• Empire State Realty Trust recently announced a quarterly dividend of $0.035 per share, representing an annual yield of 1.8% and a payout ratio of 58.33%.
• Equities analysts have mixed opinions on the stock, with a consensus rating of "Hold" and an average price target of $10.43.

PharVision Advisers LLC bought a new stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 55,526 shares of the real estate investment trust's stock, valued at approximately $434,000. Empire State Realty Trust makes up approximately 0.6% of PharVision Advisers LLC's holdings, making the stock its 24th biggest holding.

Several other hedge funds have also recently made changes to their positions in ESRT. Price T Rowe Associates Inc. MD raised its position in shares of Empire State Realty Trust by 8.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 118,854 shares of the real estate investment trust's stock valued at $1,227,000 after buying an additional 9,169 shares in the last quarter. Northern Trust Corp raised its position in 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 worth $26,835,000 after purchasing an additional 771,017 shares during the period. Mercer Global Advisors Inc. ADV raised its position in Empire State Realty Trust by 755.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 123,760 shares of the real estate investment trust's stock worth $1,277,000 after purchasing an additional 109,290 shares during the period. Ameriprise Financial Inc. raised its position in Empire State Realty Trust by 42.4% in 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 purchasing an additional 2,750,045 shares during the period. Finally, Algert Global LLC raised its position in Empire State Realty Trust by 21.8% in the 4th quarter. Algert Global LLC now owns 70,701 shares of the real estate investment trust's stock worth $730,000 after purchasing an additional 12,654 shares during the period. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ESRT has been the topic of a number of research reports. Wall Street Zen raised 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 reduced 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 report on Monday, May 19th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Empire State Realty Trust currently has an average rating of "Hold" and a consensus target price of $10.43.

Empire State Realty Trust Stock Up 2.0%

Shares of NYSE ESRT traded up $0.16 during midday trading on Thursday, reaching $7.84. 1,000,387 shares of the company's stock traded hands, compared to its average volume of 1,544,471. 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 stock's 50 day simple moving average is $7.64 and its 200-day simple moving average is $7.77. Empire State Realty Trust, Inc. has a one year low of $6.56 and a one year high of $11.62. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 32.69 and a beta of 1.78.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter. Empire State Realty Trust had a net margin of 5.67% and a return on equity of 2.45%. The firm 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. On average, analysts predict that Empire State Realty Trust, Inc. will post 0.88 EPS for the current fiscal year.

Empire State Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, September 15th. Empire State Realty Trust's dividend payout ratio (DPR) is 58.33%.

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.