AlphaQuest LLC increased its position in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 58.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 122,482 shares of the real estate investment trust's stock after purchasing an additional 44,974 shares during the period. AlphaQuest LLC owned about 0.07% of Empire State Realty Trust worth $1,264,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versor Investments LP acquired a new stake in shares of Empire State Realty Trust in the fourth quarter worth $105,000. Bank of New York Mellon Corp lifted its stake in Empire State Realty Trust by 0.8% in the 4th quarter. Bank of New York Mellon Corp now owns 702,961 shares of the real estate investment trust's stock worth $7,255,000 after acquiring an additional 5,395 shares in the last quarter. Delta Financial Group Inc. acquired a new stake in Empire State Realty Trust during the 4th quarter worth about $150,000. Wolverine Asset Management LLC grew its stake in Empire State Realty Trust by 143.8% during the 4th quarter. Wolverine Asset Management LLC now owns 262,689 shares of the real estate investment trust's stock valued at $2,711,000 after acquiring an additional 154,920 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Empire State Realty Trust by 16.7% in the 4th quarter. Handelsbanken Fonder AB now owns 72,518 shares of the real estate investment trust's stock valued at $748,000 after purchasing an additional 10,400 shares during the period. 67.10% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Empire State Realty Trust
In other Empire State Realty Trust news, EVP Thomas P. Durels sold 3,193 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $10.90, for a total transaction of $34,803.70. Following the transaction, the executive vice president now owns 96,807 shares in the company, valued at $1,055,196.30. This trade represents a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 13.95% of the company's stock.
Analyst Ratings Changes
Several analysts recently commented on the stock. BMO Capital Markets raised their price target on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the stock an "outperform" rating in a report on Friday, November 15th. StockNews.com raised shares of Empire State Realty Trust from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd.
View Our Latest Research Report on ESRT
Empire State Realty Trust Stock Down 3.3 %
Shares of ESRT traded down $0.28 during midday trading on Thursday, reaching $7.99. 934,062 shares of the stock were exchanged, compared to its average volume of 1,319,031. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 28.52 and a beta of 1.39. The firm has a 50 day simple moving average of $9.29 and a 200-day simple moving average of $10.27. Empire State Realty Trust, Inc. has a 12-month low of $7.88 and a 12-month high of $11.62. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23.
Empire State Realty Trust (NYSE:ESRT - Get Free Report) last posted its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 EPS for the quarter, topping the consensus estimate of $0.05 by $0.19. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. The company had revenue of $155.13 million during the quarter, compared to the consensus estimate of $192.62 million. Research analysts forecast that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.
Empire State Realty Trust Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Friday, March 14th. Empire State Realty Trust's payout ratio is 50.00%.
Empire State Realty Trust Company Profile
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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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