Empire State Realty Trust, Inc. (NYSE:ESRT) Shares Bought by Wolverine Asset Management LLC

Key Points

• Wolverine Asset Management LLC increased its stake in Empire State Realty Trust by 25.9%, acquiring an additional 68,016 shares, bringing its total ownership to 330,705 shares valued at approximately $2.59 million.
• Empire State Realty Trust recently announced a quarterly dividend of $0.035 per share, with a 1.9% annualized dividend yield, set to be paid on September 30th.
• Analysts have downgraded the company’s stock, with Wall Street Zen changing its rating from "hold" to "sell" and Wells Fargo reducing their price target from $11.00 to $8.30 while maintaining an "underweight" rating.

Wolverine Asset Management LLC boosted its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 25.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,705 shares of the real estate investment trust's stock after purchasing an additional 68,016 shares during the quarter. Wolverine Asset Management LLC owned about 0.20% of Empire State Realty Trust worth $2,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Centersquare Investment Management LLC boosted 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 acquiring an additional 2,761,385 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Empire State Realty Trust in the first quarter worth about $207,000. US Bancorp DE boosted its holdings in Empire State Realty Trust by 22.4% in the first quarter. US Bancorp DE now owns 9,973 shares of the real estate investment trust's stock worth $78,000 after acquiring an additional 1,824 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in Empire State Realty Trust by 173.6% in the first quarter. GSA Capital Partners LLP now owns 108,314 shares of the real estate investment trust's stock worth $847,000 after acquiring an additional 68,720 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Empire State Realty Trust by 13.9% in the first quarter. Cetera Investment Advisers now owns 20,868 shares of the real estate investment trust's stock worth $163,000 after acquiring an additional 2,552 shares in the last quarter. Institutional investors own 67.10% of the company's stock.

Empire State Realty Trust Stock Performance

Shares of NYSE:ESRT traded up $0.03 during trading on Monday, hitting $7.21. The stock had a trading volume of 1,066,065 shares, compared to its average volume of 2,039,568. Empire State Realty Trust, Inc. has a 12-month low of $6.56 and a 12-month high of $11.62. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 7.89 and a beta of 1.70. 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 has a 50-day simple moving average of $7.96 and a two-hundred day simple moving average of $8.01.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter. The firm had revenue of $153.54 million during the quarter. Empire State Realty Trust had a return on equity of 2.45% and a net margin of 5.67%. On average, equities research analysts expect that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current fiscal year.

Empire State Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, September 15th. Empire State Realty Trust's dividend payout ratio (DPR) is currently 58.33%.

Analyst Ratings Changes

Several equities research analysts have weighed in on ESRT shares. Wall Street Zen downgraded Empire State Realty Trust from a "hold" rating to a "sell" rating in a report on Saturday. Wells Fargo & Company lowered their price target on 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. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Empire State Realty Trust has a consensus rating of "Hold" and an average target price of $10.43.

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.