Victory Capital Management Inc. Has $2.30 Million Stock Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Victory Capital Management Inc. lifted its stake in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 41.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 244,910 shares of the real estate investment trust's stock after buying an additional 72,241 shares during the period. Victory Capital Management Inc. owned about 0.15% of Empire State Realty Trust worth $2,297,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ESRT. Russell Investments Group Ltd. increased its position in shares of Empire State Realty Trust by 87.6% during the 4th quarter. Russell Investments Group Ltd. now owns 76,440 shares of the real estate investment trust's stock worth $741,000 after purchasing an additional 35,700 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Empire State Realty Trust by 8.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,285,543 shares of the real estate investment trust's stock worth $31,837,000 after buying an additional 245,458 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of Empire State Realty Trust by 20.5% during the fourth quarter. QRG Capital Management Inc. now owns 16,297 shares of the real estate investment trust's stock worth $158,000 after buying an additional 2,776 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Empire State Realty Trust by 31.2% in the fourth quarter. Principal Financial Group Inc. now owns 126,209 shares of the real estate investment trust's stock valued at $1,223,000 after acquiring an additional 30,047 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Empire State Realty Trust in the 4th quarter worth approximately $8,571,000. 67.10% of the stock is owned by institutional investors and hedge funds.

Empire State Realty Trust Trading Up 2.2 %

ESRT stock traded up $0.24 during trading on Wednesday, hitting $11.11. The company had a trading volume of 2,470,543 shares, compared to its average volume of 1,111,552. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 36.23, a PEG ratio of 6.11 and a beta of 1.40. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.23. The firm has a 50-day moving average price of $10.45 and a 200-day moving average price of $9.79. Empire State Realty Trust, Inc. has a 12 month low of $7.25 and a 12 month high of $11.30.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.14). The firm had revenue of $189.54 million for the quarter. Empire State Realty Trust had a net margin of 5.89% and a return on equity of 2.57%. During the same quarter in the previous year, the business earned $0.26 earnings per share. As a group, analysts predict that Empire State Realty Trust, Inc. will post 0.94 earnings per share for the current year.

Empire State Realty Trust Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Monday, September 16th. Empire State Realty Trust's dividend payout ratio is 46.67%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. BMO Capital Markets raised their price target on Empire State Realty Trust from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, July 19th. StockNews.com lowered Empire State Realty Trust from a "hold" rating to a "sell" rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company upped their price target on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the stock an "underweight" rating in a research report on Wednesday, September 11th.

Empire State Realty Trust Company Profile

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.