VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Empire State Realty Trust, Inc. $ESRT

Key Points

• The Virginia Retirement Systems has acquired 68,800 shares of Empire State Realty Trust, Inc., valued at approximately $557,000, in its latest SEC filing.
• Empire State Realty Trust recently announced a quarterly dividend of $0.035 per share, resulting in an annualized yield of 1.8%.
• Analysts have maintained a consensus rating of "Hold" on Empire State Realty Trust, with an average target price of $10.43.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 68,800 shares of the real estate investment trust's stock, valued at approximately $557,000.

Other large investors have also recently bought and sold shares of the company. Nuveen LLC purchased a new position in shares of Empire State Realty Trust in the first quarter valued at $21,703,000. Centersquare Investment Management LLC increased its position in shares of 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 valued at $21,943,000 after buying an additional 2,761,385 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Empire State Realty Trust by 137.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,105,313 shares of the real estate investment trust's stock valued at $24,284,000 after buying an additional 1,798,850 shares in the last quarter. Millennium Management LLC increased its position in shares of 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 valued at $21,791,000 after buying an additional 1,309,913 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of Empire State Realty Trust by 2,127.5% in the first quarter. Cubist Systematic Strategies LLC now owns 721,993 shares of the real estate investment trust's stock valued at $5,646,000 after buying an additional 689,581 shares in the last quarter. Hedge funds and other institutional investors own 67.10% of the company's stock.

Empire State Realty Trust Stock Up 2.4%

ESRT opened at $8.00 on Friday. 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 firm has a market cap of $1.36 billion, a P/E ratio of 33.32 and a beta of 1.79. Empire State Realty Trust, Inc. has a 52 week low of $6.56 and a 52 week high of $11.43. The business's fifty day simple moving average is $7.59 and its 200 day simple moving average is $7.65.

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 (EPS) for the quarter. Empire State Realty Trust had a return on equity of 2.45% and a net margin of 5.67%.The firm had revenue of $153.54 million for the quarter. As a group, equities research analysts anticipate 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 was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Monday, September 15th. Empire State Realty Trust's dividend payout ratio (DPR) is presently 58.33%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Empire State Realty Trust in a research note on Tuesday, October 14th. Wall Street Zen raised Empire State Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 23rd. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $10.43.

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.

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