Jennison Associates LLC Acquires New Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Jennison Associates LLC acquired a new stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 76,670 shares of the real estate investment trust’s stock, valued at approximately $791,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ESRT. Vision Capital Corp lifted its holdings in Empire State Realty Trust by 79.9% during the 3rd quarter. Vision Capital Corp now owns 2,802,948 shares of the real estate investment trust’s stock valued at $31,057,000 after buying an additional 1,245,211 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Empire State Realty Trust by 392.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,099,288 shares of the real estate investment trust’s stock valued at $12,180,000 after buying an additional 875,836 shares in the last quarter. Barclays PLC lifted its holdings in Empire State Realty Trust by 133.2% during the 3rd quarter. Barclays PLC now owns 304,539 shares of the real estate investment trust’s stock valued at $3,374,000 after buying an additional 173,965 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Empire State Realty Trust by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,758,869 shares of the real estate investment trust’s stock valued at $41,648,000 after buying an additional 171,056 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Empire State Realty Trust by 95.4% in the 3rd quarter. Jane Street Group LLC now owns 228,587 shares of the real estate investment trust’s stock valued at $2,533,000 after purchasing an additional 111,589 shares in the last quarter. Institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Trading Down 0.1 %

NYSE:ESRT opened at $9.66 on Friday. Empire State Realty Trust, Inc. has a one year low of $8.78 and a one year high of $11.62. 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 firm has a market cap of $1.61 billion, a P/E ratio of 35.76 and a beta of 1.40. The firm has a 50-day simple moving average of $10.14 and a 200-day simple moving average of $10.53.

Empire State Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Monday, December 16th. Empire State Realty Trust’s payout ratio is currently 51.85%.

Insider Transactions at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 10,000 shares of Empire State Realty Trust stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $10.10, for a total value of $101,000.00. Following the transaction, the executive vice president now owns 86,807 shares of the company’s stock, valued at $876,750.70. The trade was a 10.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.95% of the company’s stock.

Wall Street Analysts Forecast Growth

ESRT has been the subject of several recent research reports. StockNews.com lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd. BMO Capital Markets boosted their price target on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 15th.

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.