Empire State Realty Trust, Inc. (NYSE:ESRT) Shares Purchased by Northern Trust Corp

Northern Trust Corp lifted its stake in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 42.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,600,328 shares of the real estate investment trust's stock after purchasing an additional 771,017 shares during the quarter. Northern Trust Corp owned about 1.56% of Empire State Realty Trust worth $26,835,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Waterfront Capital Partners LLC bought a new stake in shares of Empire State Realty Trust during the fourth quarter valued at approximately $11,048,000. Vanguard Group Inc. boosted its stake in Empire State Realty Trust by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 19,844,999 shares of the real estate investment trust's stock valued at $204,800,000 after purchasing an additional 461,421 shares during the last quarter. Norges Bank bought a new stake in shares of Empire State Realty Trust in the 4th quarter worth $4,725,000. Employees Retirement System of Texas raised its stake in shares of Empire State Realty Trust by 81.6% in the fourth quarter. Employees Retirement System of Texas now owns 512,000 shares of the real estate investment trust's stock worth $5,284,000 after purchasing an additional 230,000 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Empire State Realty Trust by 16.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,596,894 shares of the real estate investment trust's stock valued at $16,480,000 after purchasing an additional 227,953 shares in the last quarter. 67.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ESRT. StockNews.com upgraded shares of Empire State Realty Trust from a "sell" rating to a "hold" rating in a report on Thursday, April 3rd. Citigroup reissued a "neutral" rating on shares of Empire State Realty Trust in a report on Friday, April 11th. Finally, Wolfe Research raised Empire State Realty Trust from a "peer perform" rating to an "outperform" rating and set a $10.00 price target for the company in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $11.00.

Insider Buying and Selling at Empire State Realty Trust

In related news, EVP Thomas P. Durels sold 12,500 shares of Empire State Realty Trust stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $8.11, for a total value of $101,375.00. Following the completion of the transaction, the executive vice president now owns 74,307 shares in the company, valued at $602,629.77. The trade was a 14.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 30,122 shares of company stock worth $242,761. 14.60% of the stock is owned by corporate insiders.

Empire State Realty Trust Stock Up 0.9%

Shares of ESRT stock traded up $0.07 on Wednesday, hitting $7.89. The stock had a trading volume of 1,898,627 shares, compared to its average volume of 1,236,250. Empire State Realty Trust, Inc. has a one year low of $6.56 and a one year high of $11.62. The business has a 50 day moving average price of $7.52 and a 200 day moving average price of $9.19. The company has a market cap of $1.32 billion, a PE ratio of 28.18 and a beta of 1.60. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23.

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

Empire State Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.77%. The ex-dividend date was Friday, March 14th. Empire State Realty Trust's dividend payout ratio is presently 46.67%.

About Empire State Realty Trust

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.