Norges Bank Makes New $4.73 Million Investment in Empire State Realty Trust, Inc. (NYSE:ESRT)

Norges Bank purchased a new position in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 457,829 shares of the real estate investment trust's stock, valued at approximately $4,725,000. Norges Bank owned 0.27% of Empire State Realty Trust as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ESRT. Vanguard Group Inc. boosted its position in Empire State Realty Trust by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 19,844,999 shares of the real estate investment trust's stock worth $204,800,000 after purchasing an additional 461,421 shares during the last quarter. William Blair Investment Management LLC grew its position in Empire State Realty Trust by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 3,720,315 shares of the real estate investment trust's stock valued at $38,394,000 after buying an additional 90,758 shares during the period. Geode Capital Management LLC increased its holdings in Empire State Realty Trust by 1.1% during the third quarter. Geode Capital Management LLC now owns 3,406,925 shares of the real estate investment trust's stock valued at $37,756,000 after buying an additional 38,529 shares during the last quarter. JPMorgan Chase & Co. raised its position in Empire State Realty Trust by 5.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,709,524 shares of the real estate investment trust's stock worth $17,642,000 after acquiring an additional 93,539 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of Empire State Realty Trust by 5.8% during the 4th quarter. Nordea Investment Management AB now owns 727,158 shares of the real estate investment trust's stock worth $7,482,000 after acquiring an additional 40,042 shares during the last quarter. 67.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Thomas P. Durels sold 11,843 shares of the company's 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 sale, the executive vice president now owns 44,185 shares of the company's stock, valued at approximately $354,363.70. This represents a 21.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 30,122 shares of company stock worth $242,761 in the last three months. Corporate insiders own 13.95% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on ESRT shares. Wolfe Research upgraded Empire State Realty Trust from a "peer perform" rating to an "outperform" rating and set a $10.00 price target for the company in a research report on Tuesday, March 25th. StockNews.com upgraded shares of Empire State Realty Trust from a "sell" rating to a "hold" rating in a research note on Thursday, April 3rd.

Empire State Realty Trust Trading Down 0.5 %

Shares of NYSE:ESRT traded down $0.04 during trading on Tuesday, reaching $7.11. The company's stock had a trading volume of 136,265 shares, compared to its average volume of 1,349,968. The stock has a market capitalization of $1.19 billion, a PE ratio of 25.38 and a beta of 1.39. Empire State Realty Trust, Inc. has a 12 month low of $6.56 and a 12 month high of $11.62. The firm's 50 day simple moving average is $8.27 and its two-hundred day simple moving average is $9.73. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.19. The firm had revenue of $155.13 million during the quarter, compared to analysts' expectations of $192.62 million. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. On average, research analysts predict that Empire State Realty Trust, Inc. will post 0.88 EPS for the current fiscal year.

Empire State Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, March 14th. Empire State Realty Trust's payout ratio is presently 50.00%.

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.