Empire State Realty Trust, Inc. (NYSE:ESRT) Stock Position Lifted by Rhumbline Advisers

Rhumbline Advisers raised its position in Empire State Realty Trust, Inc. (NYSE:ESRT) by 3.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,059 shares of the real estate investment trust’s stock after purchasing an additional 8,406 shares during the quarter. Rhumbline Advisers’ holdings in Empire State Realty Trust were worth $2,355,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ESRT. Scotia Capital Inc. bought a new position in shares of Empire State Realty Trust in the fourth quarter valued at approximately $123,000. Allspring Global Investments Holdings LLC acquired a new position in Empire State Realty Trust during the 1st quarter worth about $143,000. Quest Partners LLC acquired a new stake in Empire State Realty Trust in the 4th quarter valued at about $157,000. MQS Management LLC acquired a new position in shares of Empire State Realty Trust during the first quarter worth approximately $172,000. Finally, Capital Investment Counsel Inc bought a new stake in shares of Empire State Realty Trust during the second quarter valued at approximately $186,000. 67.10% of the stock is currently owned by institutional investors.

Empire State Realty Trust Price Performance

Shares of NYSE:ESRT opened at $11.27 on Friday. The firm has a 50 day moving average of $10.50 and a 200-day moving average of $9.81. The stock has a market capitalization of $1.86 billion, a PE ratio of 37.57, a PEG ratio of 6.11 and a beta of 1.40. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.23. Empire State Realty Trust, Inc. has a 12 month low of $7.25 and a 12 month high of $11.36.

Empire State Realty Trust (NYSE:ESRT) last posted its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.14). The business had revenue of $189.54 million for the quarter. Empire State Realty Trust had a return on equity of 2.57% and a net margin of 5.89%. During the same quarter last year, the firm earned $0.26 earnings per share. On average, equities research analysts predict that Empire State Realty Trust, Inc. will post 0.94 EPS for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.035 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.14 annualized dividend and a dividend yield of 1.24%. Empire State Realty Trust’s dividend payout ratio is currently 46.67%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wells Fargo & Company upped their price objective on Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a report on Wednesday, September 11th. StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. Finally, BMO Capital Markets raised their price target on Empire State Realty Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, July 19th.

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.