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

Several other large investors also recently modified their holdings of the company. Nuveen LLC acquired a new stake in Empire State Realty Trust in the first quarter worth $21,703,000. Centersquare Investment Management LLC grew its holdings in Empire State Realty Trust by 6,189.6% in the first quarter. Centersquare Investment Management LLC now owns 2,805,998 shares of the real estate investment trust's stock worth $21,943,000 after purchasing an additional 2,761,385 shares during the period. Ameriprise Financial Inc. grew its holdings in Empire State Realty Trust by 42.4% in the fourth 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. Millennium Management LLC grew its holdings in Empire State Realty Trust by 88.7% in the first quarter. Millennium Management LLC now owns 2,786,559 shares of the real estate investment trust's stock worth $21,791,000 after purchasing an additional 1,309,913 shares during the period. Finally, Northern Trust Corp grew its holdings in Empire State Realty Trust by 42.1% in the fourth 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. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on ESRT. Wells Fargo & Company reduced their price target on shares of Empire State Realty Trust from $11.00 to $8.30 and set an "underweight" rating for the company in a report on Monday, May 19th. Wall Street Zen upgraded shares of Empire State Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 23rd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $10.43.

Empire State Realty Trust Stock Down 2.4%

Shares of NYSE ESRT traded down $0.20 during mid-day trading on Monday, reaching $7.78. 1,100,359 shares of the company's stock traded hands, compared to its average volume of 1,104,054. The stock has a market cap of $1.32 billion, a P/E ratio of 32.40 and a beta of 1.78. The business has a 50-day simple moving average of $7.66 and a 200 day simple moving average of $7.77. 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 debt-to-equity ratio of 1.15, a current ratio of 4.03 and a quick ratio of 4.03.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last released 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 business 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 expect that Empire State Realty Trust, Inc. will post 0.88 EPS for the current fiscal year.

Empire State Realty Trust Dividend Announcement

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