JPMorgan Chase & Co. raised its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,709,524 shares of the real estate investment trust's stock after buying an additional 93,539 shares during the quarter. JPMorgan Chase & Co. owned about 1.03% of Empire State Realty Trust worth $17,642,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the business. Versor Investments LP bought a new position in Empire State Realty Trust during the fourth quarter worth $105,000. Inspire Advisors LLC bought a new position in shares of Empire State Realty Trust during the 4th quarter worth about $125,000. Cibc World Markets Corp bought a new position in shares of Empire State Realty Trust during the 4th quarter worth about $132,000. Longboard Asset Management LP acquired a new position in shares of Empire State Realty Trust during the fourth quarter valued at about $137,000. Finally, Ballentine Partners LLC lifted its stake in shares of Empire State Realty Trust by 22.8% in the fourth quarter. Ballentine Partners LLC now owns 14,349 shares of the real estate investment trust's stock valued at $148,000 after buying an additional 2,668 shares during the period. 67.10% of the stock is owned by institutional investors.
Insider Buying and Selling at Empire State Realty Trust
In other news, EVP Thomas P. Durels sold 5,779 shares of the firm's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $8.03, for a total value of $46,405.37. Following the completion of the sale, the executive vice president now directly owns 56,028 shares in the company, valued at approximately $449,904.84. This trade represents a 9.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders sold 30,122 shares of company stock worth $242,761. 14.60% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several equities analysts have commented on ESRT shares. StockNews.com raised Empire State Realty Trust from a "sell" rating to a "hold" rating in a report on Thursday, April 3rd. Citigroup restated a "neutral" rating on shares of Empire State Realty Trust in a research note on Friday, April 11th. Finally, Wolfe Research upgraded shares of Empire State Realty Trust from a "peer perform" rating to an "outperform" rating and set a $10.00 price target on the stock in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $11.00.
Read Our Latest Analysis on Empire State Realty Trust
Empire State Realty Trust Price Performance
NYSE:ESRT traded up $0.06 during trading hours on Thursday, reaching $7.11. The company had a trading volume of 153,063 shares, compared to its average volume of 1,190,888. The firm has a market capitalization of $1.19 billion, a PE ratio of 25.41 and a beta of 1.39. The stock has a 50-day moving average of $8.16 and a two-hundred day moving average of $9.69. Empire State Realty Trust, Inc. has a one year low of $6.56 and a one year 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 announced its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.19. The firm had revenue of $155.13 million during the quarter, compared to the consensus estimate of $192.62 million. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. Analysts forecast that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current year.
Empire State Realty Trust Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.035 per share. The ex-dividend date was Friday, March 14th. This represents a $0.14 dividend on an annualized basis and a yield of 1.97%. Empire State Realty Trust's dividend payout ratio is 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.
Read More
Before you consider Empire State Realty Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Empire State Realty Trust wasn't on the list.
While Empire State Realty Trust currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
