1832 Asset Management L.P. Buys New Shares in Empire State Realty Trust, Inc. (NYSE:ESRT)

1832 Asset Management L.P. purchased a new stake in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 487,500 shares of the real estate investment trust's stock, valued at approximately $4,573,000. 1832 Asset Management L.P. owned 0.30% of Empire State Realty Trust at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Scotia Capital Inc. acquired a new stake in shares of Empire State Realty Trust in the fourth quarter valued at about $123,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Empire State Realty Trust during the second quarter valued at approximately $137,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Empire State Realty Trust in the first quarter valued at approximately $143,000. Quest Partners LLC purchased a new position in shares of Empire State Realty Trust in the fourth quarter valued at approximately $157,000. Finally, Inspire Advisors LLC acquired a new stake in shares of Empire State Realty Trust in the second quarter worth approximately $171,000. Hedge funds and other institutional investors own 67.10% of the company's stock.

Empire State Realty Trust Trading Down 1.6 %

Shares of NYSE ESRT traded down $0.18 during trading on Wednesday, hitting $11.14. 1,370,949 shares of the company were exchanged, compared to its average volume of 1,132,163. The company has a fifty day moving average price of $10.54 and a 200-day moving average price of $9.85. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.24 and a current ratio of 3.24. The firm has a market capitalization of $1.84 billion, a PE ratio of 37.13, a P/E/G ratio of 6.70 and a beta of 1.40. Empire State Realty Trust, Inc. has a 12-month low of $7.25 and a 12-month high of $11.43.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.14). Empire State Realty Trust had a net margin of 5.89% and a return on equity of 2.57%. The firm had revenue of $189.54 million during the quarter. During the same period last year, the business posted $0.26 earnings per share. As a group, equities research analysts expect that Empire State Realty Trust, Inc. will post 0.94 EPS 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 issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, September 16th. Empire State Realty Trust's dividend payout ratio is presently 46.67%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ESRT. Wells Fargo & Company lifted their target price on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the stock an "underweight" rating in a research note on Wednesday, September 11th. StockNews.com cut shares of Empire State Realty Trust from a "hold" rating to a "sell" rating in a research note on Friday, July 26th. Finally, BMO Capital Markets increased their price objective on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, July 19th.

Empire State Realty Trust 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.