Waterfront Capital Partners LLC Buys New Stake in Empire State Realty Trust, Inc. (NYSE:ESRT)

Waterfront Capital Partners LLC purchased a new position in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,070,517 shares of the real estate investment trust's stock, valued at approximately $11,048,000. Empire State Realty Trust comprises about 2.0% of Waterfront Capital Partners LLC's holdings, making the stock its 25th biggest position. Waterfront Capital Partners LLC owned approximately 0.64% of Empire State Realty Trust as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Nebula Research & Development LLC grew its stake in Empire State Realty Trust by 31.6% during the 4th quarter. Nebula Research & Development LLC now owns 38,956 shares of the real estate investment trust's stock worth $402,000 after buying an additional 9,350 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Empire State Realty Trust by 2.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,711,719 shares of the real estate investment trust's stock valued at $17,665,000 after purchasing an additional 44,065 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Empire State Realty Trust by 8.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 118,854 shares of the real estate investment trust's stock worth $1,227,000 after acquiring an additional 9,169 shares in the last quarter. Susquehanna International Group LLP raised its position in Empire State Realty Trust by 25.4% in the fourth quarter. Susquehanna International Group LLP now owns 404,680 shares of the real estate investment trust's stock worth $4,176,000 after acquiring an additional 82,051 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in Empire State Realty Trust by 9.3% in the fourth quarter. Hsbc Holdings PLC now owns 138,984 shares of the real estate investment trust's stock worth $1,434,000 after acquiring an additional 11,881 shares in the last quarter. Institutional investors own 67.10% of the company's stock.

Insider Activity at Empire State Realty Trust

In related news, EVP Thomas P. Durels sold 5,779 shares of the company's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $8.03, for a total transaction of $46,405.37. Following the completion of the sale, the executive vice president now directly owns 56,028 shares of the company's stock, valued at approximately $449,904.84. This represents a 9.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 30,122 shares of company stock valued at $242,761. 14.60% of the stock is owned by corporate insiders.

Empire State Realty Trust Stock Up 1.7 %

NYSE:ESRT traded up $0.12 on Wednesday, hitting $7.08. 848,524 shares of the company's stock traded hands, compared to its average volume of 1,209,028. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. Empire State Realty Trust, Inc. has a 1 year low of $6.56 and a 1 year high of $11.62. The firm has a 50-day moving average price of $7.80 and a 200-day moving average price of $9.44. The company has a market cap of $1.19 billion, a PE ratio of 25.29 and a beta of 1.39.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.19 EPS for the quarter. The business had revenue of $154.54 million during the quarter. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. Equities 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 company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.035 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 1.98%. Empire State Realty Trust's payout ratio is 50.00%.

Analyst Upgrades and Downgrades

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

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.