Wells Fargo & Company MN raised its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 59.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,024 shares of the real estate investment trust's stock after acquiring an additional 84,871 shares during the quarter. Wells Fargo & Company MN owned approximately 0.14% of Empire State Realty Trust worth $2,343,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Versor Investments LP purchased a new stake in Empire State Realty Trust during the 4th quarter worth about $105,000. Inspire Advisors LLC purchased a new stake in shares of Empire State Realty Trust during the fourth quarter worth about $125,000. Cibc World Markets Corp acquired a new position in shares of Empire State Realty Trust in the fourth quarter valued at approximately $132,000. Longboard Asset Management LP purchased a new position in shares of Empire State Realty Trust during the fourth quarter valued at approximately $137,000. Finally, Ballentine Partners LLC boosted its position in Empire State Realty Trust by 22.8% during the fourth quarter. Ballentine Partners LLC now owns 14,349 shares of the real estate investment trust's stock worth $148,000 after acquiring an additional 2,668 shares during the last quarter. Institutional investors and hedge funds own 67.10% of the company's stock.
Wall Street Analysts Forecast Growth
ESRT has been the topic of a number of recent analyst reports. 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. Citigroup reiterated a "neutral" rating on shares of Empire State Realty Trust in a research report on Friday, April 11th. 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Empire State Realty Trust presently has an average rating of "Hold" and an average target price of $11.00.
Get Our Latest Research Report on Empire State Realty Trust
Insider Buying and Selling
In related news, EVP Thomas P. Durels sold 5,779 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $8.03, for a total transaction of $46,405.37. Following the transaction, the executive vice president now directly 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 the SEC website. In the last three months, insiders sold 30,122 shares of company stock valued at $242,761. Company insiders own 14.60% of the company's stock.
Empire State Realty Trust Trading Up 0.2 %
Empire State Realty Trust stock traded up $0.02 during midday trading on Thursday, reaching $7.14. The stock had a trading volume of 106,813 shares, compared to its average volume of 1,210,626. The stock has a market capitalization of $1.20 billion, a PE ratio of 25.48 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. The stock's 50-day simple moving average is $7.76 and its 200 day simple moving average is $9.43. Empire State Realty Trust, Inc. has a twelve month low of $6.56 and a twelve month high of $11.62.
Empire State Realty Trust (NYSE:ESRT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. The business had revenue of $154.54 million during the quarter. Analysts expect that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.
Empire State Realty Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, March 14th. Empire State Realty Trust's dividend payout ratio is presently 50.00%.
About Empire State Realty Trust
(
Free Report)
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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