T. Rowe Price Investment Management Inc. Increases Stock Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

T. Rowe Price Investment Management Inc. boosted its holdings in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,711,719 shares of the real estate investment trust's stock after buying an additional 44,065 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 1.03% of Empire State Realty Trust worth $17,665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Empire State Realty Trust by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 19,844,999 shares of the real estate investment trust's stock worth $204,800,000 after acquiring an additional 461,421 shares during the period. Norges Bank bought a new position in Empire State Realty Trust in the 4th quarter worth about $4,725,000. Employees Retirement System of Texas grew its holdings in Empire State Realty Trust by 81.6% during the 4th quarter. Employees Retirement System of Texas now owns 512,000 shares of the real estate investment trust's stock valued at $5,284,000 after buying an additional 230,000 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position 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 buying an additional 227,953 shares during the period. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Empire State Realty Trust during the fourth quarter valued at about $2,157,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Empire State Realty Trust Stock Performance

Empire State Realty Trust stock opened at $7.12 on Monday. Empire State Realty Trust, Inc. has a fifty-two week low of $6.56 and a fifty-two week high of $11.62. The firm's fifty day moving average price is $7.87 and its 200-day moving average price is $9.49. The stock has a market cap of $1.19 billion, a P/E ratio of 25.43 and a beta of 1.39. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 3.72.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.19. The firm had revenue of $155.13 million during the quarter, compared to analyst estimates of $192.62 million. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. 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 firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Friday, March 14th. Empire State Realty Trust's dividend payout ratio (DPR) is presently 50.00%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 5,779 shares of the business's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $8.03, for a total value of $46,405.37. Following the completion of the sale, the executive vice president now owns 56,028 shares of the company's stock, valued at approximately $449,904.84. The trade was a 9.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 30,122 shares of company stock worth $242,761. 14.60% of the stock is currently owned by insiders.

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.

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