Arrowstreet Capital Limited Partnership increased its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 16.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,596,894 shares of the real estate investment trust's stock after acquiring an additional 227,953 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.96% of Empire State Realty Trust worth $16,480,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Empire State Realty Trust in the 3rd quarter worth $25,000. Versor Investments LP bought a new stake in shares of Empire State Realty Trust in the fourth quarter valued at about $105,000. Quadrature Capital Ltd bought a new stake in shares of Empire State Realty Trust in the third quarter valued at about $115,000. Inspire Advisors LLC acquired a new stake in Empire State Realty Trust during the fourth quarter worth about $125,000. Finally, Cibc World Markets Corp bought a new position in Empire State Realty Trust during the fourth quarter valued at about $132,000. Institutional investors own 67.10% of the company's stock.
Insider Transactions at Empire State Realty Trust
In other news, EVP Thomas P. Durels sold 11,843 shares of Empire State Realty Trust stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $8.02, for a total value of $94,980.86. Following the completion of the transaction, the executive vice president now owns 44,185 shares in the company, valued at approximately $354,363.70. The trade was a 21.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders have sold 30,122 shares of company stock valued at $242,761. 13.95% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of brokerages have commented on ESRT. StockNews.com upgraded Empire State Realty Trust from a "sell" rating to a "hold" rating in a research report on Thursday, April 3rd. Wolfe Research raised Empire State Realty Trust from a "peer perform" rating to an "outperform" rating and set a $10.00 target price for the company in a research report on Tuesday, March 25th.
Get Our Latest Research Report on Empire State Realty Trust
Empire State Realty Trust Price Performance
ESRT traded up $0.44 during midday trading on Wednesday, reaching $7.23. 1,630,580 shares of the company's stock were exchanged, compared to its average volume of 1,190,448. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. The business has a 50-day simple moving average of $8.42 and a two-hundred day simple moving average of $9.82. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 25.82 and a beta of 1.39. Empire State Realty Trust, Inc. has a one year low of $6.56 and a one year high of $11.62.
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 return on equity of 2.84% and a net margin of 6.45%. The business had revenue of $155.13 million during the quarter, compared to the consensus estimate of $192.62 million. As a group, research analysts predict that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.
Empire State Realty Trust Dividend Announcement
The company 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 1.94%. 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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