Inspire Investing LLC Has $433,000 Stock Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Inspire Investing LLC increased its stake in Empire State Realty Trust, Inc. (NYSE:ESRT) by 30.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,180 shares of the real estate investment trust’s stock after acquiring an additional 10,759 shares during the quarter. Inspire Investing LLC’s holdings in Empire State Realty Trust were worth $433,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in shares of Empire State Realty Trust by 19.3% in the fourth quarter. Wellington Management Group LLP now owns 5,821,372 shares of the real estate investment trust’s stock worth $56,409,000 after acquiring an additional 943,593 shares during the period. Cbre Investment Management Listed Real Assets LLC lifted its stake in shares of Empire State Realty Trust by 36.8% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,467,453 shares of the real estate investment trust’s stock worth $23,910,000 after acquiring an additional 663,159 shares during the period. Vanguard Group Inc. lifted its stake in shares of Empire State Realty Trust by 0.9% in the first quarter. Vanguard Group Inc. now owns 19,287,935 shares of the real estate investment trust’s stock worth $195,387,000 after acquiring an additional 175,718 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of Empire State Realty Trust in the first quarter worth approximately $2,896,000. Finally, Pinebridge Investments L.P. lifted its stake in shares of Empire State Realty Trust by 82.8% in the fourth quarter. Pinebridge Investments L.P. now owns 106,085 shares of the real estate investment trust’s stock worth $1,028,000 after acquiring an additional 48,050 shares during the period. 67.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Wednesday, September 11th. StockNews.com lowered Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. Finally, BMO Capital Markets boosted 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 Price Performance

Shares of NYSE:ESRT opened at $11.01 on Friday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.23. Empire State Realty Trust, Inc. has a twelve month low of $7.25 and a twelve month high of $11.36. The stock’s 50 day moving average is $10.51 and its 200-day moving average is $9.82. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 6.11 and a beta of 1.40.

Empire State Realty Trust (NYSE:ESRT) last issued 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). Empire State Realty Trust had a return on equity of 2.57% and a net margin of 5.89%. The firm had revenue of $189.54 million for the quarter. During the same quarter last year, the firm earned $0.26 earnings per share. Sell-side analysts forecast 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 given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Monday, September 16th. Empire State Realty Trust’s payout ratio is 46.67%.

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.